Especially considering the original proposal for that whole block…
9 Likes
My day would’ve been a lot better not knowing that existied! 
2 Likes
Highwoods didn’t even build any of that block. Can’t remember if they bought the lot before or after the demo of the historic storefronts there.
haha Welcome to Raleigh!!! There are lots of proposals that were never built.
1 Like
That rendering was released in 2007. That should level set expectations a bit after what happened to real estate in 2008.
3 Likes
At least the bounce back here was much better than most cities!
5 Likes
That’s what I keep saying and it makes a lot of sense given they often will develop two adjacent buildings, and they have the shared parking deck as well.
2 Likes
To be in the family fold, you have to share in the pain.
2 Likes
PC recommends approval (8-0) for 40 stories
10 Likes
Sounds like Highwoods will get the additional equity they want on that block. Now hopefully they can flip it to a serious developer.
17 Likes
Planning Commission recommends approval to DX-40-CU.
11 Likes
This and the Legends block nearby were both on the agenda for approval or at least a public hearing yesterday. Anyone know how that went?
I think the planning commission recommended approval for both but I don’t think it got a vote yet from CC. Basing that off the updates coming through the wire.
One has been scheduled for a vote twice (the one by Vita Vite) but kept getting pushed back. Yesterday should’ve been the final vote. The other had a public hearing which likely would’ve had a vote at the end as well. Usually the Wire is a few days behind, so I’m not expecting anything on that yet. Sad I had to be on vacation instead of listening to the council meeting at home
To answer my own question, these were both approved at Tuesday’s meeting!
https://www.newsobserver.com/news/local/counties/wake-county/article252644738.html
6 Likes
Is Highwoods planning for something we don’t know about because they have a lot of properties downtown with no activity going on.
We know about it. They’re a REIT, so they’re holding on for higher valuation then eventually sell. I hear they actually develop in other cities. 
2 Likes
They seemed to have a lot of thoughts and details though during the public hearings. Not like renderings and floor count (at least that they mentioned), so it seemed more like they planned on doing something with it than they usually do. That being said, I guess it could be a smokescreen to go through the motions with that kind of thing, just to get the rezoning, and then they can be like…it didn’t work out, so we’ll just hold onto the property.
1 Like
They do they have a plethora of skyscrapers in other cities.