New Bern Corridor redevelopment project underway

Neuse River Brewing Company signed the first lease.Photo byCourtesy

Submitted to The Tribune

RALEIGH – The redevelopment of 1601 New Bern Avenue is underway.

Scheduled to be completed in late summer, the redevelopment includes 11,650 square feet of retail and restaurant space, approximately three

minutes from downtown Raleigh. The project is a joint venture among Capitol Commercial, Carroll Development and AB Capital Advisors, with financing provided by North State Bank.

Upon completion, the revitalized structure will boast a variety of features, including subdivided suites for up to six tenants ranging from 1,250 to 2,835 square feet, a shared grease trap, a resurfaced parking lot, as well as new plumbing, electrical and landscaping. Storefronts will be enhanced with new UV-rated glass, and select spaces will offer roll-up garage doors and a 14-foot-wide sidewalk for outdoor seating.

The project is nestled among a series of scheduled redevelopments, including revamping the former Division of Motor Vehicle Headquarters into mixed-use with retail, services and affordable housing.

New Bern Avenue will be the first corridor for the City of Raleigh’s new Bus Rapid Transit system, and plans call for a BRT station in front of 1601 New Bern Avenue.

Neuse River Brewing Company co-founders Ryan and Jennifer Kolarov, along with business partner Carl Boyajian, signed the first lease for 1601 New Bern Avenue, where they will introduce a new concept to the East Raleigh neighborhood. The casual and eclectic gathering space will include simple bar snacks with a wide selection of beverages and entertainment options.

“We’re pleased to work shoulder-to-shoulder with local partners to bring this project to fruition,” Chris Carroll of AB Capital said. “It’s a great opportunity to revitalize the bones of an existing building to better meet the needs of the area.”

"As a community bank, we embrace the opportunity to help transform communities for the better. In concert with other nearby redevelopments on the New Bern Corridor, this project aims to increase accessibility to food, services and other amenities, which benefits residents and helps neighborhoods flourish," North State Bank West Raleigh Market, President Harryson Turner, said.