I kind of interpret that as saying they have a chance to build because their property is already zoned for 40 while a lot of other builders have to bow down to CC and kiss *** in hopes of getting an up zoning.
12 Likes
The rendering and the video suggest that they aren’t quite ready to commit to go taller than about 400 ft.
2 Likes
Yep. Basically saying that the development opportunity is extra sweet because it’s unencumbered by any zoning hiccups.
1 Like
Yup, that is how I read it @scotchman . The fact that they are excited because they don’t have to deal with the Council, and are moving ahead because of that as well, says a lot to me.
3 Likes
My friend could not fine any type of info. for 121 Fayetteville St. , but FNB did this same type of
procedure before they submitted anything .
6 Likes
So I saw a construction crew over at the former Wahlburgers and I got a little excited because I thought something new was coming… but it turns out that they sold a portion of the restaurant space for a new ATM for Bank of America. I guess they need one downtown now that they no longer have a bank here.
6 Likes
…and to think that I thought it would be a hamburger dispensing machine! I’m disappointed.
2 Likes
Thanks for the update! My co-worker was complaining yesterday about losing the BofA ATM on Fayetteville St and was actually contemplating changing to a new bank so he didn’t need to drive out of downtown to get cash out. He’s pretty excited now.
3 Likes
There are other reasons he should change banks 
4 Likes
Wish Shake Shack was going in that spot…
2 Likes
ITB insider is reporting Kane realty has already signed a leasing agent for 121 Fayetteville St. and have begun pre-leasing some of the space. That’s awesome news, I was afraid this would get lost in limbo.
Also if I’m keeping track Duda Paine is designing or designed:
121 Fayetteville
Home2 + TruRaleigh (Wilmington St hotel)
301 Hillsborough
The Dillon
10 Likes
Kane is the leasing company and it looks that they assigned a leasing person to contact.
Just to manage our expectations and as a reminder also 400H is in preleasing and Sandreuter has done zero in the last years
The big question remains if the owner will build on spec or needs a certain % preleased before construction
3 Likes
Recent Raleigh history shows that the one that waits gets left behind.
3 Likes
really hope there is a plan for a phase 2 on the north side of the parking deck… 8-9 levels of hotel would seem nice???
17 Likes
That would be perfect, and would fit in with the city’s desire to taper down to the capitol building.
3 Likes
Agreed! Also, anything to cover up that parking deck level is a win for this particular project.
That said, it just makes me sick to my stomach that the de facto response to tower development these days seems to be the pedestal parking, instead of underground. This is NOT jut a Raleigh thing either.
2 Likes
Underground parking is 3 to 4 times the cost of above ground. That’s why it is all above ground.
2 Likes
Yeah, I understand that. I still think it’s a shame.
1 Like
PNC Plaza has above ground parking. It’s hidden better.
4 Likes
Yep, and it’s horrible there too.