Neighbors in Raleigh’s historic Olde East neighborhood have supported the city’s pending sale of the Stone’s Warehouse property and its development by Transfer Company LLC.
The Triangle Business Journal says council subsequently voted unanimously to sell the property at 500 E. Davie st. for $2.2 million.
Olde East Raleigh resident Jason Queen of Raleigh Restoration Group leads Transfer Company LLC.
The developer proposes a $10 million project to rehabilitate and redevelop the property, with one building becoming a specialty grocery store and cafe, and the main garage turning into a manufacturing hub for local food producers. Transfer also plans a 14,000 sq. ft. office or research building, plus 15 new residential townhouses.