LNR Property is poised to begin construction on the 21 acre project called Blount Street Commons. The first phase of the development runs from Peace Street south to Lane Street and is bound by Wilmington Street to the west and Person Street to the East.
The project is defined on the Livable Streets website as "...a plan to return 25 acres of State property in the northeast corner of the downtown Raleigh State Government Complex to private development. The 25-acre property includes several historic homes that are part of the Blount Street Local Historic District. These homes have been used for many years as state offices. Also included in this tract are parking lots and other underutilized properties that form a prime opportunity for development."
Reports from the News and Observer state "Once the entire project is complete in 2010, it could include up to 495 condominiums, townhouses and single-family homes, up to 110,000 square feet of shops and 25 renovated homes, some of them historic."
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