Raleigh City Council approves sale of Stone’s Warehouse | News
News
INDY Week's news blog

Archives | RSS

Wednesday, August 5, 2015

Raleigh City Council approves sale of Stone’s Warehouse

Posted by on Wed, Aug 5, 2015 at 12:02 PM

click to enlarge Stone's Warehouse - RACHEL SMITH
  • Rachel Smith
  • Stone's Warehouse

The sprawling, rundown 85-year-old Stone’s warehouse at 500 East Davie Street won’t be used for affordable housing, but the developers purchasing the building say they will transform the space into the next best thing: a grocery store, market and community gathering place for southeast Raleigh residents.

Following a public hearing Tuesday evening, Raleigh’s City Council voted unanimously to sell the .83-acre Stone’s Warehouse site to the Transfer Company, a group of local developers who want to “give it new life” and “preserve a part of the community’s history while also adapting it to Raleigh’s future,” according to an info sheet from the group.

The sales price for the property came in at $2.02 million and that money will be re-invested by the city to relocate the Rex Hospital Senior Health Care Center to Rock Quarry Road, and to invest in affordable housing in southeast Raleigh. (The city had purchased the warehouse using federal housing funds in 2003).

Transfer Co. says it expects to add up to 100 permanent jobs at the site once construction, including a 13,000-square-foot building and a row of 16 townhouses, is complete, by the end of 2016. Local businesses including Videri Chocolate Factory, Locals Seafood, Jubala Coffee, Boulted Bread and Trophy Brewing and Pizza Co. have already expressed interest in locating in the building.

“This is a local development with a local design team, a project that will be built by local contractors to be prepared for local businesses,” said Steve Schuster, an architect and the Raleigh Planning Commission chairman who has been involved with the project. “We can’t do more than that to promote good jobs for our community.”

The city’s original plan was to use Stone’s Warehouse for affordable housing in partnership with Raleigh housing nonprofit DHIC, but Schuster said that "couldn’t be made to work on this property.”

Danny Coleman, a southeast Raleigh resident and chairman of the South Central CAC, lamented that, with the sale of the city-owned property to developers, the city was “taking from the needy and giving to the greedy.” He also said his CAC had not been consulted about the decision to sell the site.

But overall, the Council’s decision to sell the Stone’s property to Jason Queen, Will Jeffers and Matt Flynn, who share a vision for revitalizing “Olde East Raleigh,” was met with jubilance.

“Transfer’s prospectus says they will include food grown locally, by local farmers and gardeners,” a Raleigh resident, who called herself a “hunger remediator,” said at the public hearing. “I know we need food in the city’s largest food desert.”

Tags: , , , ,

Pin It

Comments

Subscribe to this thread:

Add a comment

INDY Week publishes all kinds of comments, but we don't publish everything.

  • Comments that are not contributing to the conversation will be removed.
  • Comments that include ad hominem attacks will also be removed.
  • Please do not copy and paste the full text of a press release.

Permitted HTML:
  • To create paragraphs in your comment, type <p> at the start of a paragraph and </p> at the end of each paragraph.
  • To create bold text, type <b>bolded text</b> (please note the closing tag, </b>).
  • To create italicized text, type <i>italicized text</i> (please note the closing tag, </i>).
  • Proper web addresses will automatically become links.

Latest in News



Twitter Activity

Comments

I was diagnosed of hepatitis B in 2012,I have tried all possible means to get cure but all my effort …

by Austin calnor on The Problem with N.C.’s Religious Exemption Law (News)

"Since late November, Henderson County in Western North Carolina has seen 20 cases of pertussis, or whooping cough, and has …

by Liza Coutu on The Problem with N.C.’s Religious Exemption Law (News)

Most Read

Most Recent Comments

I was diagnosed of hepatitis B in 2012,I have tried all possible means to get cure but all my effort …

by Austin calnor on The Problem with N.C.’s Religious Exemption Law (News)

"Since late November, Henderson County in Western North Carolina has seen 20 cases of pertussis, or whooping cough, and has …

by Liza Coutu on The Problem with N.C.’s Religious Exemption Law (News)

What part of illegal don't they understand. Congress is considering the DACAs plus all other illegal aliens in a bill …

by john1050 on Durham Church Offers Immigrant Sanctuary from Deportation (News)

From the WRAL story:
http://www.wral.com/former-wake-register-o…
"John Stephenson, the county's internal auditor, said an average of $1,100 to …

by Mojo on Indictments in Wake Register of Deeds Scandal Charge Laura Riddick with Embezzling $926,615 (News)

Hopefully Indyweek will remember all this the next time they endorse a Republican (over and over again).

by Robert Larson on Indictments in Wake Register of Deeds Scandal Charge Laura Riddick with Embezzling $926,615 (News)

© 2017 Indy Week • 320 E. Chapel Hill St., Suite 200, Durham, NC 27701 • phone 919-286-1972 • fax 919-286-4274
RSS Feeds | Powered by Foundation