By The Raleigh Telegram
RALEIGH – A giant hole in the middle of the Cameron Village shopping center in downtown Raleigh will become a large mixed used development when construction work is completed.
An aged parking deck and gas station were torn down last year to make way for the new Gallery at Cameron Village development which is now underway. Work crews are scooping out the dirt and earth in the square lot that fronts Oberlin Road and Clark Avenue to make room for the foundation for the new buildings.
The $50 million project is being built by Crescent Resources, LLC out of Charlotte. According to the company, the new Gallery project will feature 282 apartment homes and 16,000 square feet of retail space. The company says it expects the apartments to be open by the spring of 2013.
“Cameron Village is the ultimate shopping and dining destination in Raleigh, and we are excited to deliver the first multifamily experience in Cameron Village,” said Brian Natwick, president of Crescent’s Multifamily Division in a press release by the company last year about the new project. “Gallery at Cameron Village will bring luxury apartment homes with a unique design to complement this extraordinary location.”
The apartment project is the first multi-family residential development at Cameron Village and is the first new residential development in decades. Cameron Village is one of Raleigh’s oldest shopping centers, as it was opened in the 1950′s. The facility has a wide mix of stores including small upscale clothing stores, a Harris Teeter supermarket, specialty shops, restaurants, bars, coffee shops, a library, Fresh Market grocery store, and other merchants.
In addition, the Gallery will be the first several storied structure within the main shopping area as well. Drawings released by the company show a multistory tower on one corner that is connected to the main apartment complex, which has multiple stories as well.
Up the street at the intersection of Oberlin Road and Wade Avenue, a similar site was built a few years ago which offers apartments on upper levels with retail stores and restaurants on the first floor including a Zoe’s Cafe, Massage Envy, and other establishments. ::
Article Posted: Sunday, April 22nd, 2012.