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City of Raleigh repurchases Martin Street property

Posted September 7, 2012

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—  The city of Raleigh will spend $374,349 to repurchase a small plot of land it sold more than a decade ago.

The city originally sold the .04-acre property, at 226 E. Martin St., in 1997 when it was a vacant lot. Gregg Pollard, real estate services manager for the city of Raleigh, said the lot was sold to Capital Area Preservation with the intent to move a historic house to the property.

Pollard said the house was later bought and used as architectural offices for David Maurer.

The city intends to redevelop the property in the future, city officials said. The city owns the majority of the block, from Davie to Martin streets.

City Council voted Sept. 4 to allocate $371,999 for the cost of the property and $2,350 for closing costs.

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  • schlitzmalt Sep 7, 2012

    I guess the bums in Moore Square can sleep there until they do something with it.

  • yououghttoknow Sep 7, 2012

    The story leaves out the most important piece of information....how much did they sell it for in 1997 ???

  • aspenstreet1717 Sep 7, 2012

    .04 acre? Must be a small house.

  • justjean Sep 7, 2012

    Ohh, the city is paying for it huh? And where, pray tell does the city get its money from? Anyone?

  • insert name here Sep 7, 2012

    that's way to much to pay for such a small parcel!

  • godnessgracious2 Sep 7, 2012

    What in the world makes this land that expensive?

    Location, Location, Location.

  • allanonofnc Sep 7, 2012

    What in the world makes this land that expensive?

  • Stringbean Sep 7, 2012

    These towns and citys need to start selling not buying !