$10.35M land sale for future multi-housing development in Raleigh closes
JLL Capital Markets completed the sale of the .95-acre land site for The LongView
RALEIGH, Jan. 6, 2022 – JLL Capital Markets announced that it has closed the $10.35 million sale of The LongView, an approximately .95 acre, high-density multi-housing land development at 220 E. Morgan Street in Raleigh, North Carolina.
JLL represented the seller, a private individual.
The site offers in-place zoning that allows for a high-density, 30-story development. The LongView is planned to be a high-rise multi-housing community providing unobstructed views of downtown Raleigh.
Located at 220 E. Morgan St., The LongView offers proximity to historical sites, unique regional views, and convenient downtown access. The property is strategically positioned in Raleigh’s Moore Square District, which offers connectivity between the Capitol Square District and the tree-lined Historic Oakwood Residential District. The property allows walkability to downtown Raleigh destinations, and residents will also have access to several entertainment options within Moore Square, including 2,400 square feet of events space, 40,000 square feet of greenery, 5,500 square feet for a children’s play area and 1,000 square feet of dining options.
The JLL Capital Markets team representing the seller was led by Director Sarah Godwin.
“Downtown Raleigh is enjoying a unique moment today of new development, and The LongView will be a critical piece, bringing much-needed residential growth to the area,” Godwin said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.