Raleigh Renaissance

Pyrotechnics danced around the base of the old Raleigh Civic and Convention Center on a cold February morning. Seconds later, a deep rumble reverberated down Fayetteville Street towards the Capitol. The convention center lurched forward as a cloud of dust and smoke enveloped the building. As the dust settled, the top of the Progess Energy Center for the Performing arts was visible over the ruins of the Civic Center.
Convention Center Demolition Gallery
I’ll be the first to admit that the write up is probably a little more dramatic than the actual “roof lowering”, but the fact remains that Raleigh has taken an important step in its future. With the demolition complete, several important projects located in the south end can get underway.

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It’s impossible to visit Downtown Raleigh without seeing the signs of the construction underway; although Fayetteville Street is nearing completion, the number of cranes, fences and orange signs will only multiply as new projects break ground.

I’ve posted a gallery detailing projects in Downtown Raleigh (Requires Flash.) The gallery starts with the Convention Center site and the demolition of the existing center. It then looks at the progress along Fayetteville Street and a quick look at the site of Palladium Plaza. It then moves northwest to examine the Quorum Center and the site of the “Reynolds’ Tower”. Also the site of RBC’s HQ is also tucked in amongst the pictures.

I’m using a new format for the gallery and I’m still working out bugs. If there are any annoying errors, please let me know.

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The News and Observer recently printed an article giving an update on the status of the “Reynolds Tower” project. Here is a quick summary followed by commentary.

Timeline of the project

2001

Reynolds purchased 309 Hillsborough from the city in Aug 2001 and planned to build a mixed use project; The city had a buyback option if permits hadn’t been filed within 3 years.

2004

In November 2004 Reynolds filed for an extension and planned to purchase an adjacent lot for a larger building. The buyback option was extended, but with a progress update due by February of 2006.
Construction began on the 15 story Quorum center, which should be complete in 2006.
The Quorum has 45 residential units and 75% have already been sold as of today.

2006

Preliminary plans presented to the city.
City expects construction to start by late 2006

Original Plans

32 Story

Mixed use

688,500 sq ft.

200,000 sq ft office

70 room boutique hotel

25 residential condos

Parking garage

There has been some trouble with landing office tenants, but worst case scenario, the office space will be replaced with residential units.

Commentary/Random Thoughts

For the past 2 years, this project has been one of the most eagerly anticipated private projects for Downtown Raleigh.
Before RBC announced its move, it was long speculated that they might end up as a tenant in the Reynolds Tower.
Additionally, there were also rumors of Suntrust moving in and creating a Downtown Raleigh presence.

While I’m not sure if this building will become downtown’s tallest, its definitely good to see that the developer doesn’t plan to scale it down.
Originally I feared that the city would push for a shorter building, but I think the Soleil Center’s approval has set a precedent.
It seems that Raleigh should have a 32 story building under construction by the end of this year.

*I still secretly suspect that Suntrust still might have a future in this building. I wouldn’t expect to hear about this until the RBC headquarters is a little further along in its development.

*This is a pretty large building! The floors will be larger than 2 Progress’. (21,000 ft^2 vs 20,562 ft^2)

*The elevation if this lot is about the same as Wachovia’s and about 10 ft above BB&T.

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