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💙 BRIEF: Remember That Crane on Hillsborough Street?
Published 20 days ago • 6 min read
Happy Friday, Triangle!
The Stanley Cup parade is still in everyone's bones. The first real weekend of summer is here. And July 4th is a week from today.
This city is humming right now.
I pulled together this week's updates, local finds, and the news story a lot of you have been waiting on.
Speaking of waiting, look at what is finally happening at the "crane lot" on Hillsborough Street.
Grab your coffee, get comfortable, and let me walk you through it.
Here’s your D&M BRIEF:
[B]est Weekend Plans: Curated events to fill your weekend [R]ealty Pulse: A quick answer to "How's the market?" [I]n the News: Downtown Raleigh's "crane lot" is finally moving [E]xclusive Listing: Fully Renovated, Zero HOA, .66 Acres [F]riday Favorites: What's next for Cary's empty $95M site
Scroll down and enjoy!
—Brette
[B]EST WEEKEND PLANS
EVENTS
BEST THINGS TO DO THIS WEEKEND IN THE TRIANGLE
FESTIVAL
BrickUniverse LEGO Fan Expo
📅 Jun 27–28 | 10 AM–5 PM 📍 Raleigh Convention Center
What it means: The market keeps cooling, but slowly. The Market Action Index slipped to 37 from last month's 38, and inventory climbed to 1,114 homes. That's good news if you're buying — more choices, less pressure, and a little room to breathe.
But we're still in seller's territory. The median list price sits around $582,450, and well-priced homes are still moving. So if you're selling, price it right and it'll get attention. If you're buying, you've finally got some leverage to work with.
[I]N THE NEWS
DEVELOPMENT
Downtown Raleigh's "Crane Lot" Is Finally Moving After a Decade of Delays
If you've driven down Hillsborough Street anytime in the last ten years, you know exactly the spot.
The half-built concrete shell. The unused crane that sat for years. The corner directly across from NC State remained stagnant for years.
Well, it's finally moving now.
The site at 2510 Hillsborough Street is being reborn as a 7,800 sq ft mixed-use commercial building, with construction expected to wrap up this winter.
▷ A decade-long saga, finally resolved
The original developer broke ground back in 2015 with plans for a seven-story student apartment building.
A crane went up. The project immediately stalled.
What followed was years of legal disputes, an arbitration ruling against the developer, a Chapter 11 bankruptcy, and a crane that stayed up so long it became a safety hazard and a symbol of dysfunction on Hillsborough Street.
The crane finally came down in 2019. The lot stayed frozen.
Then in 2021, Raleigh-based CityPlat acquired it for about $1.25 million.
▷ What's coming
Instead of the original residential tower, CityPlat is repositioning the site for flexible, "open-air" use — retail, restaurant, bar, event, and office space.
The original concrete frame is being reused (yes, the same one that sat unfinished for years), while the sidewalk is getting a full streetscape upgrade.
Two tenants are already signed. Rally House, a national sportswear retailer, is one. The other is a national food and beverage operation that hasn't been disclosed yet.
▷ Why retail made sense here
Vacancies along Hillsborough Street are essentially nonexistent — 0.5% for office and 0.9% for retail.
That's not a typo.
In a corridor that tight, a retail-focused commercial building is one of the lowest-risk plays a developer can make right now.
▷ Why this matters for Raleigh
This site is one of the most visible corners on Hillsborough Street, sitting next to the former Alley bowling alley (now Target) and directly across from NC State's main entrance.
Tens of thousands of students, workers, and locals pass it every day.
For ten years, it's been a symbol of dysfunction. By this winter? It's a working piece of the corridor again.
When the most stalled site on the street finally moves, the entire corridor changes.
IN CASE YOU MISSED...
RETAIL
Target Could Open a New Store in the Triangle. Here's What We Know.
The big box chain spent $3.3 million on a plot of land in Clayton, southeast of downtown Raleigh. Target bought the property from real estate company Casto, which is planning a $100 million West Edge mixed-use development on the site.
From Tim Hortons to Hot Chicken: A Roundup of Opening Plans in the Triangle
The Triangle is gaining new dining and shopping options this week, including Dave's Hot Chicken adding two more Wake County locations (Garner and Cary) and Tim Hortons filing a permit to remodel a former Dairy Queen in Morrisville — which could mark the Canadian chain's North Carolina debut.
$65 Million Coming for Construction of Passenger Rail Project Connecting Raleigh to Richmond
North Carolina's S-Line rail project is getting an additional $65 million in federal funding to accelerate construction along the Raleigh-to-Richmond corridor. Phase 1 at the Durant Road site is expected to wrap by October, with the new overpass opening by the end of 2027.
Picture pulling into the driveway. A quiet, wooded treeline behind the house. A backyard built for slow evenings.
The home has been renovated from top to bottom, which is evident the moment you step inside.
The kitchen is the showpiece: quartz countertops, a porcelain farmhouse sink, and champagne-finished hardware that pulls the whole thing together.
New LVP flooring runs throughout, with designer fixtures and two separate living areas that give everyone room to spread out.
Notable features include a bright, four-season sunroom for morning coffee, alongside a primary suite with a frameless glass shower and an upgraded vanity.
Every corner feels fresh.
Then there's the backyard: fully fenced, with a paver patio, a built-in firepit, integrated seating, and professional lighting set against the trees.
The structural elements are also addressed, including a new vapor barrier, insulation, and a dehumidifier.
Less than 5 minutes from shopping and the highways straight into Raleigh.
Chapel Hill is getting one of the Triangle's most anticipated openings this summer. Ayra is a new Indian fine dining concept from Michelin-starred chef Sujan Sarkar (Chicago's Indienne), in partnership with the team behind Lime & Lemon.
The 5,000 sq ft space at East54 will include a cocktail bar, an à la carte dining room, and a private tasting menu room. For those tracking the Triangle's expanding Indian fine dining scene, Ayra represents the latest major addition.
Avoid the summer heat by arriving ahead of the crowds.
The Triangle's greenways and lakes are at their best right now, but the midday sun is brutal. Get to the Neuse River trail or Jordan Lake before 9 AM and you'll have cooler air, easy parking, and the place mostly to yourself. Your afternoon self will thank you.
🏡❤️ A huge thank you to Brette Davis!
Buying a home from across the country while navigating a major life transition could have been incredibly stressful, but Brette made the entire process feel smooth, organized, and surprisingly enjoyable.
From the first conversation to closing day, she was knowledgeable, responsive, patient, and always willing to go the extra mile. No question was too small, no concern was dismissed, and I always felt like she had my best interests at heart.
What started as a Realtor-client relationship quickly turned into a friendship. Brette is not only exceptional at what she does, she’s simply a wonderful person. Her kindness, sense of humor, and genuine care made all the difference throughout this journey.
If you’re looking for a Realtor who is professional, trustworthy, hardworking, and genuinely invested in her clients, I cannot recommend Brette highly enough.
—Matt F.
Thanks for reading the D&M Triangle BRIEF. See you next Friday!
—Brette Davis
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I’m a Raleigh-based agent who’s passionate about real estate, local life, and making homeownership feel easy (and fun!). Subscribe and join 2,000+ readers who get the inside scoop every week!
