18 Dec, 2020
An aging apartment community south of Crabtree Valley Mall could see a major redevelopment as the property owner is considering a rezoning request that would allow up to 12 stories on the site.
This month, Raleigh investor J. Roger Edwards’ Pinnacle Apartments LLC scheduled a Dec. 21 neighborhood meeting regarding the site of the Pinnacle Apartments. The property is situated on 15 acres at 5060 Edwards Mill Road – across from the Creekside at Crabtree Apartments where Edwards Mill Road runs from Parklake Avenue to Crabtree Valley Avenue.
Plans filed with the city would also set a maximum of no more than 850 residential units and no more than 25,000 square feet of retail.
According to the filings, no buildings would be permitted within 50 feet of the Crabtree Woods Neighborhood as currently prohibited by city ordinance. The request would also limit the height of any development within 200 feet of the neighborhood to no greater than six stories.
Few specifics on the proposed development itself were included in filings, though they did say that “The rezoning would facilitate future redevelopment of the Property with a mix of residential, commercial, and retail uses.”
Pinnacle is also proposing the construction of a new road to the south of the property. Filings with the city say the LLC is owned by a group of local investors and financial filings with the state name Edwards as the manager.
The site is currently home to the Pinnacle Apartments. Built in 1980, the property features 78 units across a collection of 2-story buildings.
The Pinnacle Apartments LLC bought the property for $3.9 million in 2000. The company declined to comment on their plans for the project Thursday, The company is represented by Raleigh attorney Toby Coleman of Smith Anderson.
The potential project would join a number of development plans near Crabtree Mall.
Earlier this month, Charlotte developer Terwilliger Pappas filed a rezoning request to allow for the development of a senior living complex along Crabtree Valley Avenue on a site previously slated for a high-end apartment community.
Novare Group and Batson-Cook Development Company, both based in Atlanta, along with Houston-based Marble Capital have announced plans to develop 248 luxury apartments at the site of an AT&T operations center off Glenwood Avenue northwest of the mall.