The historic Creamery building in Raleigh’s bustling Glenwood South district is set to be transformed into the city’s tallest skyscraper.
More than three years after Turnbridge Equities got the green light for a massive mixed-use complex, the New York-based developer said it will break ground on the project’s first phase later this year.
Formerly the Pine State Creamery plant, built in 1928, the two-story “Art moderne” building in cream-colored brick will remain, for the most part, as the project’s cornerstone. (Only a small portion will be demolished for redevelopment, Turnbridge said.)
But it will get a lot 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 at 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 doesn’t have a start date, includes a 20-story office tower called 404 Glenwood at The Creamery.
Once complete, the “live-work-play” complex will include 66,400 square feet of high-end retail space, 306 luxury apartments, and 280,000 square feet of Class “A” office space.
Another perk: a one-half-acre outdoor plaza and a parking garage.
“The Creamery will be a true anchor for Glenwood South,” Davis said, though he declined to disclose the project’s price tag. “We cannot yet make those details public.”
A closer look
The Creamery sits on 2.4 acres at 410 Glenwood Ave.
In 1997, the dairy-products plant was designated a historic landmark for its iconic butter churn that sits on top of the building.
Turnbridge Equities bought the property in March 2020 for $34.7 million, The N&O previously reported.
Today, it has roughly 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 at the site.
The second floor was occupied by PrecisionHawk as office space before its bankruptcy in December 2023. It’s now for lease, with CBRE as the listing agent.
Andrew Joblon, co-managing principal at Turnbridge Equities, said it could house about 25,000 square feet of second-floor retail space.
By late 2027, an additional 17,400 square feet of new retail is expected to be delivered, occupying the ground floors of both new buildings.
Joblon said they plan to target “local and leading new-to-market national tenants.”
Across town, Turnbridge Equities recently completed $10 million in renovations on the iconic Mutual Tower in downtown Durham.
The firm previously owned the Cary Towne Center mall with plans to redevelop it, but sold it to Fortnite developer Epic Games in 2021. Epic Games plans to turn it into its new headquarters, but that project is now stalled.
Reporter Renee Umsted contributed to this report.
Source Agencies
