The Raleigh City Council has approved a zoning request for developer Atlas Stark to construct a 20-story mixed-use residential project along Computer Drive, just inside the Beltline. While the exact number of housing units has not been disclosed, it is expected to be over 1,000 with 10% designated as affordable units.
According to reports from the Triangle Business Journal, there are several conditions attached to this approval. These include restrictions on certain uses and limitations on office and retail space – no more than 500,000 square feet for offices and 150,000 square feet for retail.
The property in question spans across an area of approximately17.89 acres starting at3808 Six Forks Road and Computer Drive. It was previously zoned for up to three stories but will now allow construction of up to twenty stories. The site currently houses a State Employees’ Credit Union branch and office building; however it is uncertain if they will be involved in this development.
Atlas Stark describes itself as a full-service commercial development company with expertise in various aspects such as asset acquisition/repositioning,redevelopment projects,and leasing/management services.This venture marks another milestone in their relationship-driven approach towards developing high-quality properties that meet market demands.
In summary,the Raleigh City Council’s decision paves way for Atlas Stark’s ambitious plans of constructing over1 ,000 apartment unitsin one of North Carolina’s most sought-after locations.
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