Airport Authority To Lease Land Along I-40 To Developers

The Raleigh-Durham International Airport Authority has issued a request for proposals for land that it owns near the airport. Three undeveloped sites north of I-40 near Old Reedy Creek Road, totaling about 256 acres, will be up for lease, the Triangle Business Journal reports.

The RFP comes as a disappointment to the Conservation Fund, which made an informal offer of $6.6M to purchase the land. That plan was also supported by cycling enthusiasts, who have used informal trails on the tract for many years, despite the no trespassing signs.

By leasing the land, the authority can help pay for a massive redevelopment of its facilities now in the planning stages. Also, selling the land outright would be more complicated than leasing it, considering that the Federal Aviation Administration would have to approve the sale. The airport authority originally acquired the land under the condition that it be used for aviation.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Raleigh/Durham Newsletters
Related Stories

Developer Closes $7M Land Deal To Begin Durham Apartment Project

UNC Schools Seek To Boost Affordable Off-Campus Housing

Research Triangle Park Inches Closer To Mixed-Use After Key Board Vote

JPI Expands Into Durham With Planned $150M Multifamily Complex

Miami Worldcenter Site Listed For Sale, Expected To Fetch Over $100M

Data Center Developer Seeks To Build 300K SF Facility Near Raleigh

Raleigh Mulls Multimillion-Dollar Naming Deal For Convention Center

Prologis Buys 28 Acres Near Key North Carolina Corridor

How Colliers Project Leaders Adds Accountability, Cuts Risk For Clients

Miamians Sue Trump Over Plan To Include Hotel With Presidential Library

Tidal Revises Raleigh Tower Plans To Include More Retail, Fewer Apartments

South Raleigh Is Becoming A Hot Spot For Development