A stalled office building project on West Morehead Street has new life, with Insite Properties picking up plans for the building.
Called The Refinery, the five-story building at 1213 West Morehead will total 105,000 square feet. It’s expected to be complete in fall 2018. The site is located between the Open Kitchen restaurant and I-77.
Insite Properties is partnering with Northridge Capital on the project, which it said is fully funded. A block away, Insite Properties sold the Grinnell Water Works building last year to Northridge last year for $11.8 million.
“Our company has resided and invested in the West Morehead Street corridor for many years and we believe The Refinery will be the premier office site in the corridor.” said Bart Murr of Insite Properties.
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The Refinery will include an attached parking deck, a cafe for tenants, a bike storage room and rooftop deck for tenants. BB+M Architecture is the architect for the project, LandDesign is the civil engineer and JLL is leasing the building.
The buildings on the site have been demolished. Real estate records show a partnership affiliated with Insite bought part of the site in December for $501,500, and the ownership of the rest of the site was transferred to it in January.
Charlotte-based CitiSculpt had originally partnered with the Knox Group to build a smaller five-story office building on the site. The companies said they planned to start construction by the end of 2015.