Sounds like this project may go up sooner rather than later, as they’re building it speculatively:
The office portion of 301 Hillsborough is being built on speculation, meaning the company doesn’t currently have any tenants signed. Fallon said that waiting to sign a tenant before construction would slow them down in a market that has become increasingly competitive.
“Going spec is purely a function of the fact that we want to get this project going,” Fallon said. “We need the momentum and we want the momentum and we think that the risk-adjusted returns are worth it.”
We can talk about height all we want (and some of us certainly will), but we’re getting three 200’+ towers. This is a game-changer for this section of downtown. They’re building it on spec, and they’re serious about being big players in the City for years to come. This is really good.
OK, I see it now. So there are really three fairly big retail spaces in the office tower. There will be so many humans in that block when built out a convenience center should take one of the spots.
The property is opposite The Dawson, which has retail on its first floor. I actually think that it starts creating an active retail corridor with both sides of street having foot traffic.
I am guilty of wanting more height (everywhere!!). But this particular site is one of the highest elevations in DTR, so it will appear to be taller than it actually is just based on the elevation of the site. I think it will be a great addition to DTR.
However, I am still a skeptic until I see a crane going up.
Welcome to Raleigh! Even if the cranes go up that’s no guarantee something will be built! This crane has been here so long it probably got a degree from NCSU.
Yea, I remember when that crane went up. I drove by it everyday on my way to work. That was a previous firm over 3 1/2 years ago. Maybe it is on the 5 year plan
These buildings will mirror the height of The Dillon, but appear to be situated about 33 ft. feet higher in elevation than The Dillon. They will make an impact.
If you head towards downtown from Garner down 401, you can already see downtown starting to expand Westward (The Dillon, and One Glenwood are both visible, along with the round Holiday Inn). This will start to fill in the gaps between the core and these outliers. Absolutely going to make a big skyline impact. Very exciting.
OneGlenwood is 154 feet, and sits at about 10 feet lower than 301 Hillsborough. This means that, visually, 301 Hillsborough will appear 106 feet taller than it.
The reality is probably closer to them realizing that the neighbors at The Dawson would create a very long, messy process to get a variance, and that it just wasn’t worth their time and effort to pursue it.
Says the Fallon Company " is aiming to begin construction on its first Raleigh development in September."
The fact that we haven’t herd a word from Pendo and Fallon coming out directly and saying they are building on speculative, means another announcement for Pendo’s location is imminent.
My guess is Edison Office will finally get the go-ahead, with Pendo’s commitment.
Hey everyone look, another 20 story building in Raleigh. We are going to have the flattest roof line in America all in the name of dictorial city planning. Although developers can go past 20, it requires additional scrutiny and a longer process. Which, is quite clear at this point, developers have no desire to engage the city in given their propensity to slow down the process to a snail’s pace.
