Well, what if many of the things you desired were right where you lived, in your home and outside your door — including a true sense of family?
That’s the magic of Park Central Apartments, KBS’ luxury high-rise multifamily property with a view of Midtown Park and downtown Raleigh, North Carolina.
The most recent residential collaboration between KBS and Kane Realty is a star in its own right: a combination of what many “Raleighites” would consider perfectly curated retail — plus the luxury-and-chill personality of an incredible building.
As Kane’s Stacey Buescher puts it, “Park Central is such an unbelievably dynamic building, especially from the retail side.” When you consider how much “going local” defines the Raleigh lifestyle and heart, you understand precisely what she means.
Fellow Kane employee and Park Central Community Manager Tiffany Cyrus, a lifelong Raleigh resident, put it this way, “Park Central is a full and lively building. We have a great group and mix of people here, many from the area who had no idea we had so much going on downstairs — bigger retail names and importantly, a lot of local businesses.”
If you’re looking for the pinnacle of a well-rounded lifestyle in Raleigh, you’ll find it at Park Central Apartments. Located in the already great what-more-could-you-want community of North Hills, many consider Park Central the ultimate in apartment living.
The property encompasses 286 luxury residential apartment units and 34,226 square feet of ground-floor retail space. Plus, Park Central’s location puts it at the center of all that is North Hills, a community with more than 40 restaurants and 80 retailers, banks, pharmacies, salons, a 24/7 grocery store, a fitness center and a movie theater. Notes Tiffany, “North Hills is just so alive and has so many outdoor spaces.”
And then there are the views from the property. Whether of Midtown Park or downtown Raleigh, the views from Park Central are a treat. Park Central stares at Park and Market Streets. Diagonal from its base is a two-story Harris Teeter, the American supermarket chain headquartered under three hours away in Matthews, North Carolina.
Life couldn’t be more scenic, convenient or walkable.
For self-described “apartment dweller at heart” Liz Fuller, Park Central is “amazing.” The full-time physician’s assistant for Raleigh Orthopedic sold her North Hills house after falling in love with Park Central while searching for community and connection during COVID-19. She says, “I have a beautiful one-bedroom apartment that’s the perfect space, and I have an amazing view from my balcony — which also means I don’t have to pay for concerts!” Fuller, whose apartment overlooks a greenway near the Midtown Park amphitheater, just re-signed for the maximum leasing period.
She continues, “I couldn’t ask for a cleaner, nicer, better-maintained spot. The staff is unfailingly wonderful. I like knowing the common amenities are available, but the biggest thing for me is the amenities in the apartment itself and how everyone here is so nice and pleasant. And I love being able to go downstairs and get coffee at Jubala — where they always have my cup waiting — or have a glass of wine at Vita Vite, where I keep trying to talk them into giving me a tab. There are so many restaurants in the area where I live, but everything else, including Target, clothing stores and whatever, is just a short walk from the building. What’s available here is amazing. You get to know people. It’s comfortable, and it’s safe. I will not own a house after this.”
The mid- and high-rise apartments provide fun, luxurious style, comfort and convenience and sit atop an incredible mix of retail shops. Located in the heart of the Midtown District in North Hills, Park Central’s surrounding highly walkable community means tenants are steps away from over 150 restaurants, shops and entertainment and minutes away from downtown Raleigh.
To understand how the incredible area known as North Hills came into being, you need to go back a few decades to when Kane Realty began redeveloping it.
Walk to Everything
Mastermind developer and CEO of Kane Realty, John Kane, is credited with transforming North Hills into a life-changing location for people of all ages and backgrounds. Says Kane’s Tiffany Cyrus, “There’s so much diversity because North Hills really does bring in that ability for anyone and everyone to find something here that they need and want.”
Kane himself summarized, “When Kane Realty began redeveloping North Hills nearly 20 years ago, we had a long-term vision for the property and the surrounding area. Since then, North Hills has grown rapidly, becoming one of the most premier mixed-use developments in North Carolina — offering visitors and residents alike the opportunity to live, play and work all in one place.”
It’s no surprise that the North Hills redevelopment has received ongoing recognition, including several
Triangle CREW awards and Metro magazine’s Best Shopping Center award. As a 2020 Elite 1% ORATM Power Ranking property, Park Central Apartments was identified as having one of the best online reputations in the nation.
Park Central is the third and latest development project to be completed between Kane Realty and KBS. KBS began partnering with Kane on projects in North Hills several years after CEO John Kane set his sights on reinventing the submarket in 1999. Kane took what was originally a mall and completed a billion-dollar redevelopment of the area that covers 165 acres, a district called Raleigh’s Midtown.
The first KBS development joint venture with Kane was Bank of America Tower, which was 72% leased at delivery in January 2016 and 100% leased one year after delivery. Its second project was collaborating with Kane on the development of Midtown Plaza, which was leased to 94% occupancy in March 2018 and sold in mid-2018.
Park Central was the companies’ most recent project together. It’s a clear win for 100% locally sourced and curated retail. Completed in 2017, the asset was stabilized within two years. Currently it’s 100% commercially leased and about 94% residentially leased. KBS is intent on keeping the property going strong.
As summarized by Allen Aldridge, KBS senior vice president of asset management/acquisition, co-director of asset management, as well as Park Central Apartments asset manager “Park Central will continue to do well because of its positioning in North Hills and the fact it’s right off Midtown Park. Plus, we continue to improve the property. We have plans this upcoming year to redo common areas again and change the look to make the property more relevant and modern.”
Living Luxe: The Property and Its Incredible Amenities
Featuring a contemporary architectural design and luxury finishes, Park Central Apartments is considered one of the highest-end multifamily communities in Raleigh, known for its exceptional amenities.
KBS and Kane built the property to feature mid-rise and high-rise units at two different price points. The 134 high-rise units offer 10-foot ceilings with 8-foot doors and more square footage, while the 152 mid-rise units offer similar finishes and fixtures to the high-rise units — but at a more affordable price point.
As Property Manager Tiffany Cyrus shared, Park Central can practically customize a renter’s experience to what they want and need. “It is a very diverse community because North Hills really does bring in that ability for anyone and everyone to find something that they need and want,” said Tiffany. “I think our building does that as well, with our two different constructions and different views and floor plans. There really is so much to offer people here at Park Central. If someone comes in with an idea of what they want and we can get to the core of what they need, we usually can place them in this building.”
In-unit amenities include walk-in closets, granite countertops, stainless steel appliances, full-sized washers/dryers, pre-wired high-speed data (phone and cable included), ceramic tile backsplashes and walk-in showers. Select units feature built-in bookcases, built-in and movable kitchen islands, floor-to-ceiling windows, deep soaking tubs and shelved pantries.
The team also provided luxurious common area amenities at the property that are rarely found in the Raleigh market. In addition to a clubroom that overlooks Midtown Park — and a second-floor terrace that invites residents to gather for happy hour and to kick off the latest concert series or other event — the development features an eighth-floor sky lounge with indoor/outdoor bar and sky deck with saltwater pool offering views of downtown Raleigh, three distinct resident-only outdoor courtyards with turf lawn, TVs, grills and fire pits. Other amenities include free Wi-Fi and dining areas, a fitness center with cardio, CrossFit and strength equipment, a bike center with bike share program, sauna, professionally equipped pet spa, work-from-home cubicles, a conference area and a billiards room, a gourmet coffee station and more — all situated directly above North Hills shops and restaurants.
Besides offering flexible luxury to its human residents, Park Central is also known for being one of Raleigh’s most welcoming apartment communities for pets. Says Tiffany, Park Central is “definitely a pet-friendly community. We have a professionally equipped pet spa and a bark park [the 9,500-square-foot North Hills Dog Park] is right around the corner. Our team keeps dog treats close to our office so we can always feed the Park Central dogs. If you visit the Park Central Instagram account, you’ll notice people post pictures of our dogs and amenities all the time.”
Raleigh Retail Perfection: A Local’s Dream Offering of Retailers
Park Central’s 11 retail tenants comprise a beautiful blend of what Kane’s Stacey Buescher describes as “extremely intentional leasing as it relates to local markets.” They include several Raleigh-based businesses, like children’s clothing store and party venue Alara + Zane, barber shop Arrow Haircuts, Kilwins chocolates, fudge, and ice cream shop, and 2022 Diamond Awards, The Best of Raleigh winners Happy + Hale, Midtown Yoga, Vita Vite and Raleigh’s Jubala Coffee. The balance of the retail space is leased by well-known chains like Orangetheory Fitness, premium indoor cycling studio CycleBar, wellness center iCRYO Cryotherapy and world-class primary care provider One Medical — the first ever in North Hills to be a truly boutique, concierge-type service (recently bought by Amazon).
The heavenly smell of chocolate from Kilwins and the heady aroma of freshly roasted coffee from Jubala emit from both businesses’ storefronts along the edge of Midtown Park, bookending neighboring retailers Alara + Zane and Vita Vite, enticing adults and children who gather and play in and around the plaza.
Alara + Zane founder and owner, Sanaa Alyemeni, has a uniquely built-out space on Park Central’s main floor that faces and welcomes foot traffic from Midtown Park. Sanaa opened her store in the dead of COVID-19, which understandably brought on challenges. Having weathered the pandemic and now thriving, she feels embraced by the Park Central and North Hills communities. Her growing business comprises a thoughtfully curated boutique of children’s goods and clothing store and a creatively designed play space — which has become a hotspot for memorable birthday parties. “I love seeing regulars as well as visitors to the area walk into Alara + Zane,” she says.
Echoes art gallery and wine bar owner, Lindsay Rice, whose two-story Vita Vite also faces the Park, says, “It’s so great that people can go take a class at Midtown Yoga and then head over here for a glass of wine. They sit on our balcony overlooking the Park and can catch the events at the amphitheater for free while chatting with neighbors and friends.”
Lindsay likes how “It’s all very purposeful. I feel like North Hills is where you have apartments, retail — everything works well and aligns together. Park Central was a new building when we first moved in, and it’s definitely grown and changed. It’s been exciting to see how the whole area has expanded so much in the type of people who live, work and go out to eat and drink around here.”
Lindsay continued, “Our name, Vita Vite, means ‘life and vine’ in Italian. It’s based around the idea that the vine grows the grapes that make the wine that brings everybody together around the table with a sense of community, which is what we’re all about here at Vita Vite.”
The most recent commercial tenant to sign, Jubala Coffee, is a valued addition. Shares Kane’s Buescher, “We were thrilled to sign this beloved local coffee chain that chose Park Central for its third store in Raleigh.”
Jubala owner, Andrew Cash, said, “As someone raised in Raleigh, I know North Hills has been a very important part of Raleigh’s growth. Jubala is about capturing and activating the ‘front end of the day’ experience, that coffee-and-breakfast experience for people who live close by but also work close by and want to bring their families and enjoy the park that’s right outside our door. North Hills is great at making this happen.” Looking beyond his front door, Andrew observes, “It’s a gorgeous day, and I see one family having a picnic, another’s kicking a soccer ball across the park — and they’re all drinking coffee from Jubala. It’s under this landscape where people are working and living and spending time with family that’s exactly what I envisioned our shop providing to an already great area. And I’d say we’ve grown 20% a month since we opened in the spring of 2021.”
Tyler Helikson, who owns the happiness-fueling health food restaurant Happy + Hale, couldn’t agree more. “We’ve been open in North Hills for about four years,” says Tyler. “As we expand, my number one question is ‘How can we find more properties like Park Central in North Hills?’ Business has only gotten better since we’ve been here. There aren’t many properties like Park Central in North Hills. This location is our fourth and top-performing store, the perfect combination of residential, office, recreation and fitness — the perfect intersection of that live, work and play experience everyone is craving. It lends well to our offering and the community.”
Midtown Park: Gorgeous Hub and Busy Venue
One of the best perks of living in Park Central is being next door to Midtown Park. Known as the defining presence of Midtown Raleigh, Midtown Park is a fantastic gathering spot and local venue for concerts and other events. The beautiful green space is bordered by a walking path and features plenty of shade trees. It’s surrounded by world-class shopping, dining, entertainment and all the conveniences of Midtown Raleigh.
KBS recently upgraded the outdoor mixed-used plaza in the North Hills area by building an amphitheater and installing weather-tolerant turf. The amphitheater offers more than 450 events each year, including the Midtown Farmers’ Market, Midtown Beach Music Series, Kickin’ It Country and a five-week Christmas celebration.
Midtown Park events announced for 2023 already include 20 weeks of Wellness Wednesdays, three North Hills Kids events, ten weeks of Beach Music Series and four weeks of North Hills Nights. In addition to Midtown Park happenings, Raleighites can enjoy events around Midtown at two other nearby venues. The Commons hosts the Midtown Farmers’ Market on Saturdays from mid-April to early November and a festive holiday tree lighting in November.
In North Hills, people are invited to gather for a Summer Sidewalk Sale in July and a Holiday Shop & Stroll before the tree lighting in The Commons. Everything happening in the area is meant to build community and create memorable experiences for residents and visitors alike.
Conclusion
As one of the highest-end multifamily communities in Raleigh, North Carolina, Park Central offers residential tenants a luxurious home with common amenities that engage and bring people together. Then with a gentle elevator ride to the main floor of the building, they enjoy access to an incredible mix of retail. Just beyond the building’s perimeter awaits an urban quality of life that’s tough to beat.
For its commercial tenants, Park Central provides a likewise unbeatable location in the heart of North Hills — and the opportunity to shape and grow with a diverse, well-connected community.
Through the tried-and-true partnership of KBS and Kane Realty, it’s a property that exemplifies luxury residential living with retail as an amenity.
Park Central tenant Kyle Murphy, who works as a risk analyst for a Raleigh-based bank, agrees the walkability of the area elevates living at Park Central. “The amenities are necessary for luxury living, but it would all be for naught if things weren’t so accessible and community-minded.” Having lived with all that Park Central offers, Kyle is quick to say, “It’s definitely a lifestyle that’ll be hard for me to walk away from.” (No pun intended.)
When anything your heart desires is in the building — or right outside its doors — why would you live anywhere else?
As Park Central Property Manager Tiffany Cyrus summarizes, “The amenities, floor plans, life outside the building — especially in a bigger city, it can be hard to find community. But here at Park Central, there are people who remember being new to the area or new to the building. People tend to look out for the newcomers, and there’s a constant bonding going on here that even occurred during COVID-19.”
For further evidence, Tiffany encourages people to visit Park Central’s social media. “You’ll see, for example on Instagram, there’s a very large presence from our community — and from North Hills as well. It’s a very powerful one of people and community and the feeling of truly belonging.”
Or like it says on the wall of the play area that welcomes visitors to Alara + Zane, “We are family.” One could argue that deep sense of community is the very dream John Kane had in mind 20-plus years ago when he first envisioned North Hills: a mixed-use development that would offer businesses, people and families a place to thrive — together.
And today, right in the middle of it all, stands Park Central Apartments, a building that shines like a star, perhaps even like the one Pinocchio wished upon.
To learn more about multifamily, office and other commercial real estate news, visit KBS.com/Insights.
