Choice Raleigh Infill Property Hits the Market

Taft Family Ventures bought a nearly vacant downtown Raleigh grouping of properties, with the notion they’d build a mixed-use project with a 12-story limit. The family has now passed, and has put the property back on the market. Berkadia’s Mark Robertson is heading up the sales effort for the piece.

Three parcels at the corner of West Cabarrus and South Dawson streets, are across the street from the Red Hat Amphitheater. The new listing is being marketed as a opportunity for multifamily or hotel developers. The 1-acre site has an approved site plan for a 12-story building with 257 multifamily units and a parking deck. The Dawson Street parcels have parking lots on-site while the Cabarrus Street lot has an industrial office that houses PHC Restoration.

Taft Family Ventures bought the lots at 301 W. Cabarrus St. and 510 and 518 S. Dawson St., in 2019 for $5.1 million. The three parcels are in the process of being combined into one lot.