Raleigh might probably approve Kane Realty's $150 million mixed-use tower project.
On Tuesday, the developer presented its revised proposal to the city council of Raleigh, banning bars and limiting the number of stories for two buildings in support to the city's calling.
Kane Realty received public backlash earlier this year when it first presented its original project plan to the city council.
Developer, residents and Councilwoman Kay Crowder, who is vocal about the project, feared that the project would only provide city's strident nightlife. Crowder also calls for the preservation of the city's "Dillon Supply Co. Steel and Pipe Products," she also insisted that the developer is lacking specific details about the project plan.
Early in August, Kane presented to them the revised proposal to support the city's request. As part of the negotiation,they promise the city to preserve the side with the "Dillon Supply Co. Steel and Pipe Products" sign and the frontage on the Martin Street. New conditions also include to "prohibit bars and nightclubs as tenants and cap the heights at 17 stories for the tower and nine for the smaller building."
After discussing to the city council the revised plan, Mayor Nancy McFarlane said she supports the project because no one from the council members, including Crowder raised concerns.
Kane will also provide parking spaces for the district if the project pushes forward.
If the deal will push through, the city will buy between 250 and 350 of more than 850 parking spaces in the parking area that Kane plans to construct. Which will be discussed by the council on Oct. 7.
However, Jim Greene, Raleigh's assistant city manager for economic development, said that they are still not sure how many parking spaces will fit in the final deck.
The city is expected to make initial payment of $2.5 million to Kane for the spaces if the project will be approved,The News & Observer.
