Kane Receives Okay for Three Raleigh Highrises

The Raleigh City Council approved Kane Realty’s rezoning application for 12, 20 and 40 stories across multiple lots on Six Forks and Lassiter Mill roads. The city added a condition that limits heights to 37 stories.

The Triangle Business Journal reports the maximum square footage that can be built across all six parcels is 3 million square feet. It breaks down to up to 2,521 residential units, up to 1.67 million square feet of office and medical space, and up to 263,465 square feet of restaurant and retail space.

Kane Realty has added a zoning condition where the developer must contribute $40,000 per dwelling unit to the city’s affordable housing fund for up to 1 percent of the approved residential units (meaning a maximum donation of around $1 million).