Dukes Properties is preparing to transform a former Pepsi-Cola bottling facility into a mixed-use development in Raleigh. The historic Orange Crush Bottling Co. building, built in 1920, will be renovated to include studio apartments on the top two floors and retail space on the ground floor.
According to an article by the Raleigh Business Journal, Dukes plans to invest $2.5 million to $3 million into this project after purchasing the building for $185,000 last year. Rental rates will be competitive with market prices and renovations are expected to take 18 months.
This is not Dukes’ first venture into repurposing downtown buildings for residential use; they have previously converted Studio 13 at 118 S. Pearl St., and Grace Street Flats at 201-215 S.Grace St.into apartment complexes.
The century-old building in Raleigh has found new purpose under Dukes Properties as it undergoes transformation from an old Pepsi-Cola bottling operation into a modern mixed-use development. Located at 216 S.Washington St., this former Orange Crush Bottling Co.building dating backto1920will feature studio apartments ranging from500-550 square feeton its upper floorsandtwo retail spaces of just under1,400 square feeton its lower level.
As reported bytheRaleigh Business Journal,Dukesis investing approximately$2.5-$3millioninthisprojectafteracquiringthebuildingfor$185klastyear.Rentalratesareexpectedtobe inline withmarketprices,andrenovationsareanticipatedtobecompletedwithin18months.Duke’shaspreviouslyconvertedtwodowntownbuildingsintoapartmentcomplexes:Studio13at118S.PearlSt.andGraceStreetFlatsat201-215S.GraceSt.Thislatestdevelopmentshowcasesthecompany’scommitmentto revitalizingdowntownareaswithinnovativeprojectsandprovidingqualityresidentialoptionsforthecommunity.
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