First tenant set to move into new Raleigh Iron Works development

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Tuesday, August 2, 2022
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An 18-acre plot of land off Atlantic Avenue is being transformed into one of the Capital City's newest mixed-use destinations.

RALEIGH, N.C. (WTVD) -- An 18-acre plot of land off Atlantic Avenue is being transformed into one of the Capital City's newest mixed-use destinations. One of the developers behind Ponce City Market in Atlanta and Chelsea Market in New York City is building the Raleigh Iron Works.

More than 200 apartment units are going up. There are plans for a pedestrian promenade, restaurants, and office space.

A few surprises can be found around the property, including a two-story adult slide.

"We wanted to create whimsy and fun and playfulness, so an adult slide we felt checked the box," said Grubb Ventures Director of Commercial Leasing McKenzie Wilson.

There's also a swing set and firepit for workers to curl up next to with a laptop.

The features are meant to encourage people to return to the office instead of working from home.

The first commercial tenant is moving in next month.

Other small businesses are planning for their new venture.

Ponysaurus Brewing signed on to start brewing their award-winning sours at the site. The original location is in Durham.

"The Raleigh hospitality scene is amazing. We have a ton of partners already there," said Ponysaurus Brewing owner Nick Hawthorne-Johnson. "We were excited to see them reclaiming such an exciting site in Raleigh and doing it in a way I think it is going to breathe some really cool, inspiring and creative life into it."

Builders are giving this area a refresh and making it a point to pay homage to its history.

"Back in the '50s when this site was originated, it was the Peden Steel site. Much of the steel beams that were produced in this building are in many of the major buildings in Downtown Raleigh," said Wilson. "Or goal was to really highlight that history. We're using a lot of black-and-white images that the Peden family has given to us. You'll see a lot of the steel beams that are around this site. This is an original building. So we wanted to really highlight the original steel, but we also wanted to integrate it with new, so you'll see the new beams next to the old beams."

Developers are hoping to hold a retail grand opening and start leasing out the apartments next spring.