Raleigh’s skyline expands southward as the first of twin 20-story towers opens
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- The Holston, first of two 20-story towers at The Weld, opened for leasing.
- The Weld forms a 1,200-unit mixed-use gateway linking Dix Park and downtown.
- Rents start near $1,500 to $8,738 for penthouses; incentives include waived fees.
The first of two 20-story buildings is now open at The Weld, a new 1,200-unit, mixed-used development under construction on Raleigh’s southern edge.
Called “The Holston” and designed by Gensler Architects, it sits at the intersection of Lake Wheeler Road and Hammell Drive, directly adjacent to 308-acre Dorothea Dix Park.
The $700 million project is developed by Raleigh-based SLI Capital, founded in 2017 by Bryan Kane, son of Kane Realty CEO John Kane, and New York’s Mack Real Estate Group. Billed as the city’s “new gateway,” linking the park to downtown Raleigh, it’s about 15-minute walk to major landmarks like Raleigh Union Station, the Raleigh Convention Center and the emerging West End district.
“This project has always been about activating the front door to Dix Park with complementary uses,” Bryan Kane told The N&O. “We’re excited to see this vision start to come to life.”
In 2021, SLI Capital and Mack Real Estate Group paid $34.75 million for the 3.5-acre property in the Fuller Heights area, one of the few remaining affordable neighborhoods in Raleigh. After securing financing, they broke ground in late 2023.
It offers 283 studios, one-, two- and three-bedroom apartments, penthouses and street-level townhomes, ranging from 499 to 1,692 square feet.
Residents will have access to The Canopy Club, a rooftop terrace overlooking the park and downtown Raleigh. Other amenities include a pool deck, gym, sauna and coworking space.
As a wave of new, amenity-rich apartments hit the market across the Triangle, the developers are offering sweeteners to close the deal. Among them: no deposits, waived fees and up to three months free rent, according to its website.
Prices start at around $1,500 per month and go up to $8,738 for a penthouse.
The adjacent building, called “Ray” and designed by JDavis Architects, will have 392 units, a pool deck and eight townhomes. It’s scheduled to open in December, SLI Capital said.
The buildings, connected by a central green space, will feature a ground-level restaurant and retail space.
The popular Wilmington-area coffee shop Drift Coffee & Kitchen is among its first retail tenants to sign onto the project. It will open in summer 2026.
“We’re beyond excited to add to the vibrancy of The Weld,” said Michael Powell, co-founder of Drift, in a release. “It’s ideally situated to Dix Park and the Raleigh greenway system.”
The second phase, which has not yet received funding, will include 575 residential units and up to 30,000 square feet of retail, office space, and connectivity to the adjacent new developments.
Next door to The Weld, John Kane and Merge Capital are building Rockway Raleigh, formerly called Park City South, a 9.7-acre mixed-use development in connection with the Rocky Branch Trail Greenway at 927 S. Saunders St. Earlier this year, they delivered The Row, a 335-unit apartment building including 11,000-square feet of street-level retail. Tenants include Benchwarmers Bagels and Campo Taco Co.
This story was originally published November 4, 2025 at 7:00 AM with the headline "Raleigh’s skyline expands southward as the first of twin 20-story towers opens."
