Beers and buildings. Maybe that’s what the name of a meetups series should be called.
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I hope you weren’t at SoB while our Meet Up was happening 4 blocks away! 
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I actually like how open and visible the Holiday inn looks here in the pic. The sign looks great and is very presentable I agree. They should of kept the sign I think its pretty cool
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I had plans. I’ll be at the next one! (maybe) 
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What does the marquis say? Chef Knight? I’m also a little surprised that in 1970 Raleigh there is a VW Bug, a Triumph convertible and a Datsun 510 in the parking lot (not 100% sure on the last one).
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I remember that sign.
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I hadn’t thought to look at the cars that close. That bug can’t be older than ‘73. To think of a bug that’s only a year old. 
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TBJ reporting that the Fallon Company is pivoting to one single 20 story apartment building for phase 2 (instead of two additional buildings). Expect one year of planning and update of permits. Expect shovels in ground mid-2022.
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Bleh… any chance they’ll at least go even slightly taller now that there’s no height limits? I just want some damn height variation here, and a few taller-ceiling penthouse apartments that peek above Pendo tower and offer views of the entire city could go for a mint if they’re thinking ahead…
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So they’ve scrapped the hotel? Big mistake. Capital is afraid of hotels right now, perhaps anxious that the travel market might never return, but they’re wrong. If the 1920s are any indication, 12-18 months from now it will be blazing hot, like it’s never been before.
This. Is. The. Time. To. Start. Building. Hotels.
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I agree. I’d say even less time than that. People are itching to get out like crazy right now.
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I picked that number because I think that Summer 2022 is going to be a banner season for travel, tourism, and hotels. People are definitely antsy as hell to get out right now, but there is some lingering skittishness about COVID so urban/city tourism and air travel will still be somewhat suppressed, and the focus will be outdoors: beaches, mountains, lakes, etc for sure; possibly theme parks too but that’s more questionable. I also bet that COVID will return somewhat (albeit with significantly lower peak case counts h/t vaccines) this winter. So holiday travel will still be relatively a bust.
But next summer, with signs pointing to COVID being gone for good, watch out. It will be on fire. 
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Here’s the TBJ link. https://www.bizjournals.com/triangle/news/2021/04/15/the-fallon-company-revamps-raleigh-crossing-plans.html
Agree with the posters above that this is too bad, some variety in height would be nice, and that hotels will come back fairly soon.
@orulz the problem isn’t just that capital is afraid of hotels, it is that debt is afraid of them. I think a fair bit of equity would actually bet on the hospitality bounce-back, but it is very tough to get a construction loan for hotels now.
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74 is when my family moved to Raleigh. Believe it or not, people were driving foreign cars in Raleigh back then. They were even eating “farm to table” and vegetarian at Irregardless in the mid 70s. 
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I personally think more apartments & condos are needed downtown right now vs hotels. So I don’t view this as a bad thing about the change. Also glad to see phase 2 will be moving along relatively shortly! That said I’d definitely like to see more hotels join the city too. Hopefully our future lil hotel block gets going on McDowell St soon. We’re going to be looking at a lot of cranes in 2022 I think!
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One more thing to add about the TBJ article: the current plan in for the second tower to be all apartments, but they “may be open to including some unit.”
I think that would be a good addition. Nothing against apartments, but I like having condos as well.
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I’m kind of disappointed that yet another proposed hotel is being cancelled or put on hiatus. I do understand the financing hurdles, but it just seems so short-sighted. We will still need hotels in the future, and it’s not like they go from an idea to a completed project in a few months.
To the point about pent up demand for travel, I’ll just say I’ve talked to many people in Raleigh, back in NY, and on my current trip (SC) that all share my enthusiasm to travel once fully vaccinated. Not as sure about families with kids, since they likely won’t be vaccinated until the fall or later. Regardless, either this year or next year I expect to see most people travelling like normal. For lenders to be fearful of financing hotel construction downtown until we’re back with a hotel shortage like we chronically have been is frustratingly reactive.
Also, it seems unclear from the article, but I’m assuming this 20 story apartment building will take up the remaining space on this block, not just the corner where the Fallon HQ currently is. Any thoughts?
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I wouldn’t mind a Walter-type tower going in behind 301H in the parking lot next to the house on the corner. A thin, 30 story tower would have a great impact in that spot. For reference:
The top of the yellow line could be 15 stories and the bottom could be 30 stories.
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If there’s one positive with this news, it’s that the original three-tower design was so uniform in height and massing that it looked like one massive building from certain angles (and we’re already calling 301 Chunky Boy or Husky Boy or whatever else lol). I’m hopeful that the apartment tower will be set back far enough from 301 to identify as a distinct tower from every angle. That said, losing the energy and money that a hotel would bring definitely hurts as the city tries to activate this part of downtown.
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I would think that the 20 story apt building will look shorter than the current Pendo building. Does anyone remember the math of ft per fl for office vs residential? 
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