Foundry Commercial, a North Carolina broker, has been retained as the exclusive agent for the owner of the Landing at Birch Ridge (the “Property”), a ±9.79-acre development opportunity in the East Raleigh submarket at the intersection of I-440 and Poole Road. Currently zoned IX-5, the site will require a rezoning to support a multifamily development however is supported with a future land use of Community Mixed Use providing a path for higher density residential. The Landing at Birch Ridge offers a unique opportunity to capitalize on a rapidly growing East Raleigh submarket with proximity to Downtown Raleigh. The Landing at Birch Ridge is adjacent to a signalized intersection at Poole Road (25,500 VPD) and I-440 (114,000 VPD) and is located eight minutes from Downtown Raleigh, 10 minutes from North Hills, and 25 minutes from RTP. The surrounding area is strongly supported by the WakeMed Raleigh Campus that employs over 4,700 medical professionals and maintains 567 beds. In addition, the site maintains convenient access to Downtown Raleigh, which employs over 46,000 workers and is supported by some of the regions largest companies such as Pendo, Red Hat, PNC, and Duke Energy. Located adjacent to I-440, the site benefits from high visibility as well as ease of access to employment and amenities within
Raleigh’s sought after “Inside the Beltline” locale. Southeast Raleigh has experienced immense growth in the last few years evidenced by strong single-family and multifamily demand, including the newest apartment complex, The NinetyNine, that was constructed in 2022 and is averaging $1,753 average chunk rents ($1.94) PSF.
