Directions Index

From Raleigh:
South on S. Saunders Street.
Right On Maywood Avenue.

From NC State @ Western Blvd.:
South on Avent Ferry Rd.
Left on Centennial Parkway.
Left on Lake Wheeler Rd.
Right on Maywood Ave.

Contact:

Sterling Properties, LLC
2709 Charleston Oaks Drive
Raleigh, NC 27614

Ron Mikesh
Phone: 919.291.5517
Fax: 919.786.5666
Ron@Sterlingp.biz

HISTORIC CARALEIGH MILLS CONDOMINIUMS

The opportunity to live, work and play in downtown Raleigh is now a reality. Kings Building & Development, Inc. has thoughtfully redesigned the historic Fred Whitaker Cotton Mill into Caraleigh Mills, Raleigh's most exciting gated condominium neighborhood. The drive entrance is secure gated and the building is key locked. Secure access control is available from every residence. Volleyball court, park area, putting green and an onsite aerobic and fitness center are provided for the young at heart and the always active.

Careful preservation of this 100-year old mill has earned a membership in the National Register of Historic Places and provides each purchaser State and Federal tax credits over $35,000 and a permanent 50% reduction in property taxes!
Single-level, loft and two-story home designs are available. Original maple plank flooring, eight-foot tall windows and split wall soundproofing are offered throughout Caraleigh Mills. Interior appointments are of the highest level and include granite kitchens. DSL and cable are included and wired throughout every home.  All storage space is enclosed and has elevator access.

Concierge service is available for all owners as well. The Wolfpack Line runs to the Fresh Market. Centennial Campus will soon be connected to Caraleigh Mills by the Raleigh Greenway!  The Capitol is less than 2 miles from your front door and the Fresh Market is at the end of the street!
The first phase of residences will be ready for occupancy in Spring 2003.

North Carolina State University has just announced the plans for the $50 MILLION DOLLAR CENTENNIAL CAMPUS EXECUTIVE CONFERENCE CENTER AND HOTEL. A 250-ROOM HOTEL WITH AN ARNOLD PALMER DESIGNED 18-HOLE GOLF COURSE OVERLOOKING LAKE RALEIGH IS BEING DESIGNED FOR CONSTRUCTION ACROSS LAKE WHEELER ROAD FROM CARALEIGH MILLS.

Caraleigh Mills
is an exciting Raleigh revitalization development located 1.3 miles from the Capitol in downtown Raleigh and less than ˝ mile from Centennial Campus-an exciting technology and biology research development campus affiliated with North Carolina State University and Research Triangle Park corporate partners. 
Caraleigh Mills boasts a prestigious position on the National Register of Historic Places and is also the last historic mill property that can be developed for residential use in Raleigh. Eighty-four luxury condominiums will be offered around an inner courtyard on the gated 14-acre property. Elevators, private storage for residents and a 3,000 square foot fitness center are available for the exclusive benefit of Caraleigh Mills residents.  The North Carolina Department of Cultural Resources has provided extensive guidance and expertise for the interior and exterior renovation of the property.

A tremendous additional benefit from membership in the National Register of Historic Places is an extensive combination of Federal and NC state tax credits that transfer to each condominium owner. Such benefits include:

  • 50% NC state property tax credit on each condominium. Fully transferable.
  • Additional 20% federal investment tax credit on construction value/condominium. 
  • Additional 20% NC Historic Preservation Tax Credit on construction value/condominium.
     

The tax credits are a dollar-for-dollar reduction of income tax owed, equal to 20% each respectively, of the cost of rehabilitating “certified historic structures”.

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