A few months after gaining approval for a zoning change to increase the vertical limit in midtown Raleigh, Kane Realty Corp. has filed plans for a 15-story mixed-use tower.
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The proposed tower is slated to have 343K SF of multifamily space across 246 units, 18K SF of retail space and 584 parking spaces over five levels, the Triangle Business Journal reported. It will be part of Kane’s expanding North Hills Main District mixed-use hub.
Kane’s filing with the city came less than three months after the Raleigh City Council voted to approve the company’s rezoning application to raise the maximum building height to 37 stories in the North Hills area, WUNC reported. The change did away with zoning that had various height caps for the four-district area, none more than 20 stories tall.
Kane had withdrawn a similar proposal in 2023. Each time, the changes met with public outcry over concerns of overdevelopment and increased congestion on Raleigh’s roads.
However, Kane Realty CEO John Kane argued on a Feb. 19 episode of the Bottom Line: Triangle podcast that the original North Hills project and the subsequent North Hills Innovation District are designed to decrease traffic by creating density.
“People live there, they work there, they stay at the hotels, they go to the restaurants, they do what they do, and they stay there, so it recaptures the cars,” Kane said on the TBJ podcast.
Kane moved forward with various developments in the first quarter.
On Feb. 24, the company announced it had broken ground on Tributary, a mixed-use community in the NHID that will deliver 332 apartments and 6K SF of ground-level retail. The development is expected to deliver in spring 2028, ConnectCRE reported.
And in late January, Kane paid $72M for a 28-acre parcel labeled Midline Raleigh, the TBJ reported. Kane confirmed in late February that the parcel will be part of the NHID expansion.
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