Raleigh Iron Works developer files another rezoning for 20 stories

Grubb Ventures, one of the developers behind the Raleigh Iron Works project, is asking the city for permission to build up to 20 stories near the intersection of Capital Boulevard and Interstate-440, the Triangle Business Journal first reported.

Driving the news: The application asks to change the zoning for the 3.5-acre parcel at 2499 Ratchford Dr. from three to 20 stories.

• Grubb bought the property in January for $5.9 million, according to county records. It also owns the adjacent property, which is already zoned for 20 stories.

What's next: There are no immediate plans for development.

Why it matters: Grubb has become one of the most significant developers in Raleigh. It's already planning an expansion to the Iron Works project, winning a separate approval for a 20-story rezoning.

• The purchase of the Ratchford Drive property gives the company another foothold inside of the beltline.