North Hills’ $1B ‘Innovation District’ is starting to take shape. What to know.
North Hills’ new $1-billion innovation district is coming together.
Roughly four years after Kane Realty first unveiled ambitious expansion plans for a 33-acre development within Raleigh’s Midtown, the developer has delivered a handful of residential projects — including Vine Apartments in 2020 and Channel House Apartments in May.
Kane is also constructing a 17-story office tower named Tower 5, slated to be complete by the summer of 2024.
Now, one of the Triangle’s most influential developers has recently broken ground on its third phase: St. Albans Lofts, a 6-story residential building on the corner of St. Albans Drive and the Hardimont extension. It’s also planning a new 6-story residential building called Tributary, just south of St. Albans Drive and to the east of Tower 5.
Once complete, the North Hills Innovation District will have two high-rise office towers totaling 700,000 square feet, four residential buildings, 60,000 square feet of retail space and a two-story food hall.
Here’s what to know:
St. Albans Lofts
St. Albans Lofts will include 396 apartments across two buildings. The company first announced the project in 2022, the Triangle Business Journal reported.
Amenities will include a resident club, entertaining spaces, a “zen” courtyard garden, a pool overlooking Big Branch Creek, a fitness center, remote-work spaces and a private rooftop lounge.
There will also be underground parking and 6,000 square feet of retail space.
The buildings are expected to be complete by the end of 2025.
Tributary
Named for the adjacent creek, which is a tributary of Crabtree Creek, the complex will offer 320 luxury apartments and 6,000 square feet of ground-floor retail space. Amenities will include two large courtyards, a digital content recording room and a wellness center overlooking the district.
There will also be a small number of “live-work” units available. They will target small businesses and creative professionals, offering ground-level space and living quarters above.
The rents will be in line with market rates, a Kane spokesperson told The News & Observer.
Construction is expected to begin in mid-2024.
Other project updates
The NHID is well underway. Here’s a breakdown:
Vine North Hills Apartments: 326 apartments that opened in late 2020.
Channel House Apartments: A mix of 200 studio, 1-, 2- and 3-bedroom apartment homes that opened in May 2023. It’s 40% occupied, the company said. Amenities include a podcast room, co-working spaces, a saltwater pool and a gaming area.
Makers Alley: About 13,500 square feet of ground-level retail space just below the Channel House. It’s scheduled to open in the summer of 2024, with spaces ranging from 350 to 900 square feet for small restaurants and retailers. The first tenant is Dose Yoga.
Tower 5: A 17-story tower with 355,000 square feet of rentable office space. Amenities include an indoor bike room, showering facilities and ground-level retail. It’s set to open in the summer of 2024.
Pumphouse: A 1,500-square-foot, single-tenant, stand-alone retail space at the base of Tower 5 along Hardimont Drive. It’s set to open in the summer of 2024.
F&B Building: A 6,000-square-foot, stand-alone building with outdoor space designed for a single retail tenant. It’s expected to open in the summer of 2024.
Separately, Kane is revitalizing North Hills’ Main District. The $350 million complex includes four new buildings around a public plaza. A Restoration Hardware “RH Gallery” will serve as the area’s new retail anchor, with a rooftop restaurant and bar. It’s expected to be complete by March 2024.
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