The historic Creamery building in Raleigh’s bustling Glenwood South district will be transformed into the city’s tallest skyscraper.
More than three years later Turnbridge Shares got the green light for a huge mixed-use complexthe New York-based developer said it will break ground on the first phase of the project later this year.
Former Pine State Creamery factory, built in 1928, two-story “Art moderne” building in cream-colored brick will largely remain the project’s cornerstone. (Only a small portion will be demolished for reconstruction, Turnbridge said.)
But it will get much taller with the addition of a 37-story residential tower, Highline Glenwood, on the corner of Glenwood Avenue and Tucker Street.
That will make it the tallest building in the city, said Jason Davis, managing director of Turnbridge Equities, taller than the 32-story PNC Plaza tower, the 29-story BB&T tower and the 36-story The Eastern in North Hills.
The second phase, which has no start date, includes a 20-story office tower called 404 Glenwood at The Creamery.
Once completed, the “live-work-play” complex will include 66,400 square feet of upscale commercial space, 306 luxury apartments and 280,000 square feet of Class “A” office space.
Another plus: a half-acre outdoor plaza and garage.
“The Creamery will be a real anchor for Glenwood South,” Davis said, although he declined to disclose the project’s price tag. “We cannot make these details public yet.”
A closer look
The Dairy sits on 2.4 acres at 410 Glenwood Ave.
In 1997, the creamery was designated a historic landmark for its iconic butter churn that sits atop the building.
Turnbridge Equities purchased the property in March 2020 for $34.7 million, The no previously reported.
Today, it has about 24,000 square feet of retail space and is fully leased, Davis said. Existing tenants Sullivan’s Steakhouse, Milk Bar and Pine State Public House are expected to remain on site.
The second floor was occupied by PrecisionHawk as office space before its bankruptcy in December 2023. It is now for lease, with CBRE as the listing agent.
Andrew Joblon, co-manager of Turnbridge Equities, said it could house about 25,000 square feet of retail space on the second floor.
By the end of 2027, a further 17,400 square feet of new stores are expected to be delivered, occupying the ground floors of both new buildings.
Joblon said they plan to target “market-leading local and national retailers.”
Across town, Turnbridge Equities recently completed $10 million in renovations at the iconic Mutual Tower in downtown Durham.
The company owned the Cary Towne Center mall with plans to redevelop it, but sold to Fortnite developer Epic Games in 2021. Epic Games plans to turn it into its new headquarters, but that project is now stopped.
Reporter Renee Umsted contributed to this report.
