APG recently hit the road again for another tour of properties in development. For this tour, we visited sites in northeast Wake and Franklin counties.
Special thanks to James Anthony, who served as our very knowledgeable tour guide.
Stop #1 – Foxwood Apartments, Raleigh
Our first stop was a quick drive through Foxwood Apartments, a KDM development that is similar in style to the future KDM and APG joint venture project at the Forest at Swift Creek.
Stop #2 – 3095 Gresham Lake Rd, Raleigh
The Next stop was 3095 Gresham Lake Road. APG Capital, represented by David Batten, recently closed on the sale of this 10.5 acre property in northeast Raleigh. The property was sold to LDG Development, who specializes in affordable housing, for the development of 230 affordable housing units. It is the first affordable housing development in the area.
Stop #3 – 8700 Wadford Drive, Raleigh
We were then on to 8700 Wadford Drive, 4.5 acre of development land in Northeast Raleigh along US-1 sold by APG Capital in 2021 to DC-based developer Lock7 Development. Lock7 is developing the property for 55 townhomes, with completion estimated for later this year.
Stop #4 – 100 Hunter Place, Youngsville
Our next stop was Hunter Place, where APG is considering options for development of a mixed-use community. In addition to a proposed 5-acre apartment site, a potential townhome site and a potential commercial site are also in discussion.
Stop #5 – Walking Tour of Downtown Franklinton
Joe and Stephanie Farrell, development partners of APG Capital, provided our group with a guided tour of the development progress in downtown Franklinton. The tour included lunch at Toro’s Cantina that was an early success of the redevelopment project. We also visited the Owl’s Roost Brewery, Mor Galore clothing, Four North Flexible Work Space, and the nearly completed Franco’s Italian Steakhouse.
We were disappointed we weren’t able to visit the Slammer Speakeasy, a bar converted from the former Franklinton Jail, as discussed in this Triangle Business Journal article.
Stop # 6 – Dr. J.H. Harris House, Franklinton
Our last stop in Franklinton was the Dr. J. H. Harris House, an historical house from 1904 that is currently under redevelopment by Joe Farrell as an event venue, The Carolina Manor House. The venue will have all of the amenities to host a wedding on site, including guest housing, as well as small concerts and other events in an outdoor amphitheater. It is scheduled to open in October 2023.
Stay tuned for future updates on these properties, and upcoming tours of Boyce Mill Road in Raleigh and Hillandale Road in Durham. From commercial mixed-use, residential mixed-use, co-living, high-end camping, tiny homes and treehouses, APG’s vision and upcoming development sites will be exciting.
Additionally, and for your convenience, APG Advisors has gathered detail on a wide selection of regional projects now under construction across our primary service area: Multifamily projects of over 200 units, office buildings of over 30,000 square feet, retail sites of over 30,000 square feet, and industrial sites of over 50,000 square feet. Visit our Area Developments page for updates and summaries.