Kane Breaks Ground on Raleigh Mixed-Use Tower
The project is the latest addition to a $1 billion mixed-use campus.
Kane Realty Corp. has begun construction of The Strand, a 20-story, 362-unit mixed-use residential tower located in Raleigh, N.C. Developing in partnership with Mitsui Fudosan America, the community is slated for delivery in summer 2027.
The project is part of the developer’s ongoing build-out of the North Hills Innovation District, a $1 billion mixed-use campus.
Kane Realty, a Raleigh-based development and management firm, unveiled the plans for the campus in January 2021. The district features multifamily, office and retail space across a 33-acre site in Midtown Raleigh. The Strand is a significant milestone in the ongoing evolution of North Hills, according to the developer.
The Strand development team includes architecture firm Rule Joy Trammell + Rubio, general contractor Balfour Beatty and civil engineering firm McAdams.
At opening, The Strand will have a mix of studio, one-, two- and three-bedroom units plus top-floor penthouses. Community amenities will include a sixth-floor amenity deck featuring a resort-style pool, grilling area, activity lawn, fitness center and club room. The 18th level will have a reserve clubroom with a bar, dining area and outdoor terraces. A top-level speakeasy will be an exclusive offering for penthouse residents.
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The Strand will be adjacent to Advance Auto Parts Tower, a 10-story, 348,000-square-foot Class AA office building, with views of North Hills and downtown Raleigh. The mixed-use building will also have nearly 9,000 square feet of ground-floor retail. The Strand’s promenade will feature wide sidewalks, intended for outdoor diners and pedestrians. The property will also have a dedicated drop-off and ride-share area and a retail-friendly parking deck.
Located in the city’s upscale North Hills neighborhood, the property is near Interstate 440 and will offer quick access to the Raleigh-Durham International Airport and Research Triangle Park.
Although it did not provide details, Kane Realty said plans for a second development phase at the site are already underway.
Raleigh renaissance
Kane Realty, which focuses on multifamily, mixed-use, retail and office properties, acquired the former North Hills Mall site in 2001 to begin working on a mixed-use district that would be a live-work-shop-dine-play destination. The new North Hills reopened in 2004 and Kane Realty has been growing the district over more than 20 years.
When the company revealed plans for NHID in January 2021, it also announced the development of Channel House Apartments, a 200-unit Class A multifamily community that was breaking ground in summer 2021. The first phase had included development of Vine North Hills, a 326-unit property.
In the first quarter of 2020, Kane Realty broke ground on Sir Walter Raleigh, a 35-story tower with 326 residential units and 6,500 square feet of ground-floor retail located in the Park District of North Hills.
Kane Realty is also known for its projects in other parts of Raleigh. In July, the developer also obtained $33.6 million in joint venture equity and a $51.4 million construction loan to develop West End II, a 252-unit multifamily property in the West End neighborhood of downtown Raleigh. The site’s first phase, Platform, has 442 units and 26,000 square feet of ground-floor retail.
