Loden Development is helming The Depot, a mixed-use project that includes hotel, retail and office components in the Warehouse District of Raleigh. The $75 million project, at 327 W. Davie St., is expected to be completed in 2028.
The Triangle Business Journal reports the 2.37-acre property owned by the North Carolina Railroad Co. is home to the historic train depot building and an adjacent parking lot.
Loden’s plans include an 8-story, 170-room hotel with a rooftop bar, more than 30,000 square feet of retail space, and at least 20,000 square feet of office space.
Loden will build the hotel, office and retail building on the surface parking lot while preserving the former train depot building, which dates back to 1912. Loden has not chosen a hospitality brand yet for the hotel.
On the retail front, Loden is looking at between 10 to 20 tenants, including food and beverage and local, regional and national brands.
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