Real estate investment firm Jamestown and Raleigh-based developer Grubb Ventures have announced that construction has started on Raleigh Iron Works, a large-scale mixed-use destination in Raleigh’s Five Points, Person Street, and Mordecai neighborhoods.
Located at 2200 Atlantic Ave., the project will consist of nearly 500,000 square feet of creative office space, 90,000 square feet of retail and 220 residential units. Construction began Feb. 23 with crews from Brasfield & Gorrie focusing on excavation and foundation work for the residential building, and infrastructure work for the new roads and utilities at the 18-acre site. The first phase of the project includes the renovation of the historic Peden Steel mills and warehouses into a mix of office and retail spaces, along with the construction of a new seven-story multifamily residential building.
“Raleigh Iron Works will create a new mixed use innovation hub for Raleigh and a dynamic space where the creative community will thrive,” said Michael Phillips, president at Jamestown.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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