Commercial Properties Realty Trust, the for-profit arm of the Baton Rouge Area Foundation, is looking to restart a $750 million mixed-use development in Raleigh, N.C. The firm has gone back to the Raleigh planning department to get zoning changes for the 5401 North project, reports The Triangle Business Journal. The Raleigh council approved plans in 2007, but the project has been on hold because of infrastructure work and the housing slowdown. But now the local housing market is picking up. The 408-acre development will include 2,000 residential units and lots, 1.6 million square feet of commercial and retail space, an elementary and middle school, and a park, the Business Journal says. Commercial Properties bought the land in 2007 for almost $40 million.
Commercial Properties looks at restarting North Carolina project
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