Raleigh looking for a new plan for downtown redevelopment
October 31, 2013 by Mark
The Stone’s Warehouse property, which lies near Raleigh’s downtown area, was to be renovated and turned into affordable housing that was planned to cater mostly to artists.
The renovation was the idea of Vann Joines, a local developer with the Landmark Group, who wanted to create a 49-unit housing complex on the site, geared to artists and other entrepreneurs in the lower income bracket. This proposal won approval from the City Council back in January, which gave Joines a 99-year lease, contingent upon him getting low-income housing tax credits in the amount of $4.1m. Joines was unsuccessful in this endeavor, however.
As a result, Raleigh has now asked for other ideas for Stone’s Warehouse. By unanimous vote on Tuesday, October 4, 2013, the City Council requested proposals for the development and sale of the property, which is located at the intersection of South East and East Davie streets.
Interest has come from officials of Exploris Middle School, who want to find a larger building so they can add elementary classes to their operation. Exploris is a charter school which currently handles students in sixth, seventh, and eighth grades.
City officials could work with brochure printers to develop a mailer, targeted at developers as well as companies, explaining the benefits of locating their operations in Raleigh and providing details about the site.