Belgravia Management has chosen developer Revival Partners to convert 200 North College, a five-story, 458,169-square-foot building at 200 N. College St., into a mix of uses. The Triad Business Journal reports plans call for 290 apartment units and 50,000 square feet of ground-floor retail, restaurant and commercial space.

Construction will begin this summer with delivery expected in mid- to late 2027.

The building previously housed Winston-Salem-based Wake Forest’s MBA and professional studies programs. The university vacated its 30,000-square-foot space last summer, recently establishing a new campus at The Pearl innovation district.

CBRE’s Darrell Palasciano and Kaitlyn Fitch will handle retail and commercial leasing for the project, which is now underway.

Belgravia acquired the site in August 2025 for $3.5 million.

200 North College has remained largely vacant for years since BofA moved to Legacy Union’s Bank of America Tower in 2019. It is one of several obsolete uptown properties marked for future conversion.

Aja Constructions paid $13.5 million for land off Fayetteville Road just south of the Highway 70 split. The Town of Garner rezoned the 43-acre site in late 2023 to allow for 654 multifamily units and 40,000 square feet of retail space.

The Triangle Business Journal reports a master plan was submitted with the rezoning plan that indicates the project will be called Vintage Garner. The plan shows 10 4-story residential buildings, four retail pads and a handful of carriage houses. Amenities include two swimming pools, a fire pit, play field, playground, public plaza, two dog parks, dog wash, a shade structure with outdoor seating, walking trail and enhanced pedestrian corridor.

Conditions attached to the commercial mixed-use zoning include that two of the residential buildings must have at least 2,500 square feet of coworking space each; there must be EV parking spaces; at least 3,000 square feet for a dog park; and at least 10,000 square feet for outdoor active open space.

Novant Health has filed an application with a North Carolina agency to build a hospital in Wake County, a region that already has three well-established health systems: Duke Health, UNC Health and WakeMed.

To be called Novant Health Knightdale Medical Center, the center would consist of 36 licensed acute care beds, 12 unlicensed observation beds and one operating room. The request leaves room for the company to add to the facility at a later date. Knightdale is just east of Raleigh.

The proposed capital expenditure for this project is about $287 million, which includes land and site costs. Novant intends to buy a 35-acre property for the facility near the interchange of Hodge Road and I-87. The Triangle Business Journal reports If Novant’s application is approved, the health system would develop other services around the facility, such as a medical office building and potentially imaging and pharmacy services.

The Wake County Board of Alcoholic Beverage Control (ABC) has purchased an industrial building in Garner at 600 S. Greenfield Parkway for $27.5 million.

Wake County ABC’s current footprint is 8,000 square feet of office space and 70,000 square feet of warehouse space. The move will more than double the space for its offices and alcoholic products. The new warehouse will be used for stocking the shelves of Wake County ABC’s  26 stores around the county. 

The Triangle Business Journal reports the Wake County ABC purchased the empty 160,000-square-foot warehouse located in southeast Garner, one of three new industrial buildings on the site. As the building goes through its full buildout, it’ll be at least a year and a half before Wake County ABC employees — including administrative and office employees — move to the new location. The Wake County ABC has 300 employees.

Developer Merritt Properties has announced plans to build a 452,500-square-foot speculative light industrial business park in Wake Forest, NC.

Located along Ligon Mill Road, the Merritt Capital Business Park will be developed on a 74-acre tract of land and will consist of up to seven buildings ranging from 30,000 to 85,000 square feet. Each will offer 18 to 24-foot clear heights, rear-loaded docks and drive-in capabilities, and free surface parking. Site plans are still being finalized.

Pre-leasing is underway and delivery expected to occur during the second quarter of 2021. Construction will be managed by Merritt Construction Services, the construction division of Merritt Companies. Cushman & Wakefield has been tapped as the leasing partner for Merritt Capital Business Park. The team will be led by Larry Lakins, Hunter Willard and Andrew Young.

Kennemur & Associates Real Estate represented the undisclosed seller in the transaction.

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