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Raleigh, N.C. — A Houston-based real estate company has paid $19 million for 12 acres behind Crabtree Valley Mall where it plans to build offices, retail shops and residences.
Weingarten Realty Investors closed on the deal Tuesday. The land was once part of the Kidd's Hill Shopping Center.
A larger parcel nearby has been the focus of arguments by environmentalists that mixed-use development there would likely worsen flooding in Crabtree Creek.
Crabtree-Area Parcel Goes for $19M
RELATED TOPICS: Crabtree Valley, Midtown Raleigh
Copyright 2011 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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