Plaza Midwood’s post office isn’t moving, like many old pieces of the neighborhood have in the past few years. But it will soon look much different. The two-story brick building across from Harris Teeter will become four stories, and it will have a sleek new facade and 19,000 square feet of space available for new office and retail tenants.
The building, at 1233 The Plaza, was constructed in 1957 and housed a furniture store in its early days. For years, the second level has sat empty, even as property values skyrocketed in the Plaza Midwood neighborhood.
Early last year, the property changed hands. Property records show that the longtime owner, Perry Brothers Investments, LLC, sold the sold the building in January 2019 for $3.4 million to a real estate investment company, Sors, LLC.
The adaptive reuse project will give the property a fresh look, says Sink Kimmel of the The Selwyn Property Group, the local firm handling the leasing. Steel framing will go up around the existing structure, and crews will add third and fourth floors, each roughly 6,500 square feet. The property will have 33 parking spaces. The post office will remain on the ground floor, and it’s open during construction.
Plaza Midwood doesn’t have a huge number of office tenants like other booming neighborhoods such as South End do. That’s why this building could be a good fit for office users, but Kimmel’s group is looking for retailers, too.
“The top floor could make for a very cool evening oriented restaurant/bar/entertainment venue,” Kimmel says. “It just all depends on demand.”
The makeover of the old post office building comes amid a rapid evolution of Plaza Midwood, a neighborhood long known for its character and affection for small local businesses.
Down the street, developer Crosland Southeast plans to overhaul the 12-acre Central Square property to make way for apartments, green space, offices, and retail buildings. The Midwood Corners property, home to tenants like Rita’s and a used book store, will eventually be redeveloped. Asana Partners is renovating an old antique store on Central to make way for new restaurant and retail tenants. The family-run development group that built the Franklin Hotel in Chapel Hill is planning an independent hotel on Central where Kickstand Burger Bar used to be.
“Plaza Midwood is just going bonkers,” Kimmel says.