Gorman Street Multi Family Concept Raleigh
Located near the heart of Downtown Raleigh sits a 17-acre multifamily development site just off I-40 at exit 295. Well-positioned as a multifamily, townhouse or student housing, this site comes complete with development due diligence reports. Multi-Family concept design completed by Withers&Ravenels Engineering allows for 43 townhouses or 72 apartment units. Raleigh gravity sewer lines run through the property. Over 2,000 feet of paved four-lane Avenue on Gorman Street with direct access to Raleigh’s greenways and parks. Less than 3 miles to NC State University, Centennial Campus, Lonnie Poole Golf Course and 5 miles to Downtown Raleigh.
Due Diligence reports to follow an OTP are Wetland and Stream Delineation which was completed on 6/9/2017, Survey completed 10/10/2017, Site Plan Concept 6/13/2018, US Army Corps Permit 404 filed on 11/8/2017.
The new buyer will be responsible for rezoning and entitlements. The Property is currently zoned CM.
12.88 +/- acres Hardwood, 5 +/- Wetland
Deed 10676, PG: 2450, PIN 0793023945
Convenient access to retail amenities, restaurants, NCSU University, I-40, and Downtown Raleigh.
Incredible multi-family development investment with excellent ROI.
Wetland and Stream Delineation completed on 6/9/2017, Survey completed 10/10/2017, Site Plan Concept 6/13/2018, US Army Corps Permit 404 filed on 11/8/2017
Excellent road frontage with high traffic counts.
Taxes: $290/year (2019)
Listing ID#: 1369399