NOTICE OF INTENT TO LEASE 1932 & 1944 NEW BERN AVENUE, 1925 HAWKINS STREET, 118 & 122 RUSS STREET, 2000 HAWKINS STREET FOR AFFORDABLE RENTAL HOUSING Pursuant to G.S. 160A-278, at its regular meeting on January 6, 2026, the City Council of the City of Raleigh intends to authorize the lease of land owned by the City and located at 1932 & 1944 New Bern Avenue, 1925 Hawkins Street, 118 & 122 Russ Street, and 2000 Hawkins Street to Blue Ridge Atlantic Development, or its designated affiliate, for the development of an affordable residential rental development that will benefit low-income households. The lease shall last for a term of up to 80 years at a rent of $10.00 per year. Description of properties to be leased: 1932 New Bern Avenue [PIN 1713586747] 0.25 acres1944 New Bern Avenue [PIN 1713587631] 2.41 acres1925 Hawkins Street [PIN 1713586600] 0.55 acres118 Russ Street [PIN 1713587412] 0.17 acres122 Russ Street [PIN 1713586364] 0.17 acres2000 Hawkins Street [PIN 1713584278] 0.36 acres Totaling approximately 3.91 acres. Value of the property: Estimated at $1,850,969 based on present tax valuation set by Wake County Tax Administration. If you have questions, please contact Pat Dawson, Redevelopment Supervisor, pat.dawson@raleighnc.gov or (919) 996-6951 IPL0300485 Dec 23 2025