Construction begins on $150 million mixed-use destination in Raleigh's Iron Works district

Construction began early Tuesday morning on a new $150 million dollar, mixed-use destination in the Iron Works district in Raleigh.

The facility, located at 2200 Atlantic Ave, will bring nearly 500,000 square feet of creative office space, 90,000-plus square feet of retail. and 220 new residential units to Raleigh’s Five Points, Person Street, and Mordecai neighborhoods.

Global real estate and investment company Jamestown and Raleigh-based developer Grubb Ventures will partner on the project.

“Raleigh Iron Works will create a new mixed-use innovation hub for Raleigh and a dynamic space where the creative community will thrive,” Jamestown president Michael Phillips said.

The first phase of the project includes the renovation of the historic Peden Steel mills and warehouses into a mix of office and retail spaces, along with the construction of a new seven-story, multi-family residential building.

“We couldn’t be more excited to have found a way to blend Raleigh’s history with the creative new direction of today’s economy,” said Grubb Ventures president, Gordon Grubb. “This fits with Grubb Ventures’ commitment to enhance our community.”

The office, retail, and residential components are expected to open in mid-2022.