Almost two years ago, Raleigh paid $20 million dollars the property.
Raleigh leaders are starting to consider the options for the property, which is more than 5 acres.
Raleigh Planning and Development Deputy Director Ken Bowers presented a market study on three scenarios for the future site and all they all focus on one goal.
"We want to see significant affordable housing on the property," said Bowers.
Suggested Development of the Building
There is an affordable housing component in each of the three suggestions, but the amount of those units differ.
- In scenario one, there would be 60 housing apartments, 36 townhouses and 209 market rate apartments.
- In scenario three, 111 affordable housing apartments, 22 townhouses and 257 market rate apartments.
All three possibilities also include parking areas and some retail or community space.
Little Blue Bakehouse is located about a mile away from the site.
Owner Allison Vick would like the city to offer affordable retail spaces to small businesses that struggle with high rent
"It could be subsidized by the city or if there were grant programs that could go towards this, it would really give a leg up for small businesses that feel priced out of brick and mortar space in our city," said Vick.
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