Central Station Sells Parcel For Mixed-Use Project

Jul 04, 2013 No Comments by

RIDA Development Corp. has sold a two-acre parcel at its downtown Central Station project here to Crescent Communities of Charlotte, NC, who will build a mixed-use project at the site.

Crescent plans to begin construction later this year on a project that will include 275 luxury apartments and more than 20,000 square feet of amenities and urban retail space. No terms of the land deal were released.

Named “Crescent Central Station,” the new community will be located at the intersection of Orange Avenue and Amelia Street, taking up the northern portion of the $200-million Central Station project site that will also include office space, a hotel, and additional ground-level retail.

The 5.6-acre Central Station site under development by RIDA is located across the street from the Orange County Courthouse and the Bank of America Tower and 60 feet from what will be the main SunRail stop downtown.

“Central Station is an ideal location for the type of communities that we emphasize at Crescent,” says Jay Curran, vice president for Crescent Communities Multifamily Group, which has more than 5,000 multifamily units under construction or in planning across the mid-Atlantic, Southeast and Southwest. “Communities of the future will have sustainable designs that incorporate transit oriented development and a rich menu of amenities for the way that people want to live, work and play.”

 

Source:  GlobeSt.

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Industry News, Land, NA, Retail
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