Developer Wants To Expand Raleigh Shopping Development
Posted December 19, 2005
RALEIGH, N.C. — Raleigh's North Hills development is about to see its reflection in a prime piece of real estate right across the street from where it sits along Six Forks Road, just outside the Interstate 440 Beltline.
Kane Realty Corporation filed plans Friday to expand its North Hills development to offer more of what is already there.
"You'll see national retailers, as well as some more local shops and restaurants -- a mix of that sort," said developer John Kane.
The plans for the new development involve demolishing several buildings along Six Forks Road from the old Comfort Inn all the way to the Beltline and building more of what North Hills already has: places to live, work and shop -- with a bigger emphasis on working and living.
Kane said the development also calls for a 300-unit retirement center that would be called the Cardinal at North Hills and a pedestrian bridge over Six Forks Road would link both North Hills developments.
"We really were trying to create something unique in the Raleigh marketplace where people want to live or play," Kane said. "It's kind of an overused terminology, but that's what we're trying to execute here."
If the City Council approves the proposal, Kane said construction would start as early as summer 2006 and could be completed in two years. Several interested retailers, he said, have already sent him letters of intent.
Starting in January, Kane's real estate sales license will be suspended for six months after a former executive allegedly embezzled more than $1 million several years ago.The North Carolina Real Estate Commission is punishing Kane because he was the broker in charge of accounting at the company. The suspension, however, is not expected to affect the new North Hills project.