The popular Players’ Retreat, a Raleigh restaurant and sports bar, will have a new neighbor soon—a five-story building of 35 luxury condos to be sited on the roundabout that connects Pullen Road and Hillsborough Street. The developers behind the project are the same group behind the Aloft Hotel, also on Hillsborough Street, and the Paramount, a condo building located in Glenwood South.
The new building was originally supposed to be apartments, but construction costs rose so high the developers would have had to charge top rates to make the project feasible. The group began to think condos would be a better option.
Switching from rental units toward units for purchase means the building will not target students, despite the fact it sits next to the North Carolina State bell tower. Instead, the developers will market the building to university alumni, as well as young professionals, who might want to walk to Pullen Park and Cameron Village, which are nearby.
The condos will range in size from 900 to 1,300 square feet, with prices starting in the upper $300,000s. A parking garage will be located beneath the building, and there will be a terrace on the roof. Construction should begin near the end of 2018, with completion expected late in 2019 or early in 2020.
Projects like this can benefit when developers work with brochure printers to create advertising pamphlets illustrating the building’s amenities.
