N.C. Today: Raleigh's Crabtree Valley area continues growth with announcement of new project
A Fort Worth, Texas-based real-estate development group announced Carolina Row at Crabtree Valley, a retail and residential project in one of Raleigh's most prominent retail locations.
The project, part of a 30-acre planned development, will include up to 150,000 square feet of shops and restaurants, a hotel and 700 residential units. The News & Observer reports the company will invest $90 million in the project.
Trademark Property Company, which has developed similar commercial centers in Texas, California, Tennessee and Mississippi, plans to begin construction in spring 2015 with a grand opening slated for late 2016.
Carolina Row will be located across the street from Crabtree Valley Mall and a pedestrian bridge will connect the two properties.
Built in 1972, Crabtree Mall began as a 251,000-square-foot shopping center near what is now I-440 back when indoor malls were a novel concept, and it drew shoppers from across Eastern N.C. and the Triangle area. It now boasts 1.3 million square feet of retail and restaurant space.