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Florida Firm Plans Mixed-Use Housing Development on Saint Augustine’s University Property in Downtown Raleigh

Summary by INDY Week
The Florida-based real estate investment company 50 Plus 1 Sports has signed a contract with Saint Augustine’s University to lease the entirety of its 105-acre downtown Raleigh property and build a mixed-use development on 55 acres.Monti Valrie, a managing partner of 50 Plus 1 Sports, says he expects the development to generate $2 billion for his company and $1 billion for the university over the course of the 99-year lease through a revenue-sha…
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