Which is fine, because if anyone buys it at its newly valued price, they’ll most definitely have to build up to what zoning allows to maximize ROI. It’s a win/win for Raleigh in the long run, regardless.
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It also protects future development from a future council of no. Get your rezoning now while you can. This is the case for many properties scattered around downtown. Raleigh can develop towers for many years to come based on the rezonings that have taken place over the last half decade or so.
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“This will be Raleigh’s tallest building since the current tallest building isn’t 40 stories.” - Every Raleigh Vanilla News Outlet
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It’s like how they say that the Eastern at North Hills is the tallest residences in Raleigh despite the units at PNC being higher.
If this second phase is all/mostly residential, and if it did reach 40 stories, and if the building didn’t have a crown on it, it’s likely to land in the 400’ range.
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Developed by the Fallon Company, 301 Hillsborough is a 19-story office building that opened in 2022. It has 280,000 square feet of office space and 12,000 square feet of retail. With Fox Rothschild’s new lease, the building’s office space is now fully leased. Software firm Pendo is the anchor tenant in the building. It initially leased the top five floors, totaling 125,000 square feet of space. Good news to hear this one is fully leased and now on to 400H as the only new game in downtown. https://www.bizjournals.com/triangle/news/2024/10/23/fox-rothschild-raleigh-offices-301hillsborough.html?utm_source=st&utm_medium=en&utm_campaign=me&utm_content=RA&ana=e_RA_me&j=37181734&senddate=2024-10-23&empos=p1
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Ok so Phase 2 WHEN???
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Hopefully this means we get phase 2 & some retail tenants in the current openings at the building.
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It was rumored on here a little while ago that Jubala was expanding with a new location in that ground floor retail spot. Not bad, but not exciting. I’m more anxiously anticipating when Phase 2 will build, as they recently got a 40-story rezone and could actually add some height variation to the area.
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2nd phase of this project will be 250-300 residential units (apartments) but no idea when
https://www.falloncompany.com/projects/raleigh-crossing
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I just wanna see a damn render!!!
Here you go
Oh sorry that is a 62 story condo tower in Miami Beach called the Bentley Residences. Wrong file.
No rendering yet but lets hope it is a taller tower than the office tower and blocks the view of the exposed parking deck.
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For reference Skyhouse has a similar footprint, and has 320 units. Not sure if phase 2 will have a parking pedestal, but that will add to the height.
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The parking deck in the Pendo tower is already so big, I kind of hope that they can just use that one and connect it somehow.
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That’s not Miami Beach. That’s Sunny Isles Beach. It’s north of Miami Beach with Surfside, Bal Harbor, and Haulover Beach/Park in between to two cities.
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saw a man on the rock jetty there pull in a giant tarpon with some twine and his bare hands. nuts.
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Yeah, that’s some Florida Man sort of stuff.
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Just as 400H got their office tenant having signed retail tenants way before that , 301 Hillsborough got their first retail tenant after leasing 100% of the office space. From Triangle Biz Journal:
*A mixed-use office building in Downtown Raleigh is getting its first retail tenant more than 18 months after the tower opened.
Jubala Coffee has leased 3,265 square feet of space at 301 Hillsborough. The new location will be Jubala’s fourth in the Triangle with plans to open next spring.
Andrew Cash founded Jubala in 2010 and has expanded his number of shops to Lafayette Village in North Raleigh, North Hills and a location near the North Carolina State University campus. Jubala also roasts its own coffee beans at its North Hills shop, according to its website.
Office space at 301 Hillsborough is fully leased after recently signing Fox Rothschild, a law firm that leased 16,000 square feet as it exits its current Fayetteville Street space. The 19-story office building, which holds the headquarters for Pendo, opened in April 2022 and is the first phase of the Raleigh Crossing development. *
https://www.bizjournals.com/triangle/news/2024/12/11/jubala-coffee-301hillsborough-tower-lease-retail.html?cx_testId=40&cx_testVariant=cx_45&cx_artPos=7#cxrecs_s
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I absolutely love a downtown Jubala, but I am once again asking for a Glenwood South coffee shop closer to Peace Street. Preferably in Smoky Hollow. Iris and La Farm are nice, but still a decent walk away
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lol I assume you don’t count the Starbucks on Peace street in that equation?
(I would agree)
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