Construction of The Weld in Dix Park, Raleigh, has begun following the closing of a construction loan. Mack Real Estate Group and SLI Capital say they are collaborating on the US$700 million project.
One-, two-, and three-bedroom apartments will be available in 675 units spread across two 20-story towers in phase one. The developers predict that the structures will be finished by the summer of 2025. Further, they are situated on a 3.5-acre plot of land near the intersection of Hammell Drive and Lake Wheeler Road.
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“Raleigh has become a regional hub for us, where we have an office and a development team on the ground,” said Richard Mack, CEO of Mack Real Estate Group. We are concentrating on multifamily and mixed-use projects in vibrant growth cities as we expand in the Southeast. Furthermore, one of the biggest new park developments in the US is just next to where The Weld is located.
In a developing, green urban setting, our aim is to build a dynamic new community.
The Weld in Dix Park to revolutionize the city
The Weld is a genuinely crucial location for Dix Park and will revolutionize the city, according to Bryan Kane, CEO and managing partner of Raleigh-based SLI Capital. It is a company that develops and invests in real estate.
The Weld will be the entrance to Dix Park. It will offer direct access to downtown because Park City South is right around the corner. Additionally, we are working with the Dix Park Conservancy to find additional significant ways to support the growth of the Park, and we anticipate announcing more information in the fall.
The companies noted that “each building will have a ground-level restaurant and retail space and share a central greenspace that will act as a gathering place for residents.”
