Look what sold last week?
“A parking lot in downtown Raleigh changed hands last week with the new owner envisioning a future high-rise on the site.”
“The property is situated on 0.2 acres at 504 Hillsborough St., bounded by N. West and W. Edenton streets a block away from Glenwood One and the Bloc83 development.”
Thank you!
I wish I still had access to TBJ…Lol
Wasn’t this supposed to be part of 400-H…?
I thought 400 H was just contained to the other block, with plans to expand the parking deck over by the electrical substation.
Nope. Not part of 400H. This is fresh development!
I guess that this will be the site of Raleigh’s Flat Iron Building? 
Also, at least we’re assured that this building will be more slender than some of the squatty things that we’ve seen built lately!
CityPlat has been on a downtown buying spree lately. I wonder if we’ll see actual development from these guys anytime in the near future
Currently DX-12
I wouldn’t be opposed to a 12-story building on this tiny lot. What’s a reasonable height for a lot this small?
It will have a really tall parking podium when you can only fit 4 to 6 spaces a floor.
I just looked up the property on GIS and it’s .19 acres. There are two other parcels flanking it that are .03 and .05 acres. I wonder what happens next with those? By themselves they are practically worthless. Now the owner of the larger parcel has some leverage to assemble them, or they just build on what they have. Personally, I’d love for us to get a spite building or two here to add a local story to the development.
.19 acres is fairly small, but not ridiculously so. Not economical for office construction but reasonable for residential. Assuming 100% lot coverage, the size of the tower would be between that of Skyhouse and that of the tower portion of Quorum (drop the parking/office podium in other words.) If parking were integrated into the building, it would definitely have to be quite a few levels. Not technically challenging per se, but expensive - because smaller floor plates means more circulation area is required per parking space.
My expectation, based on other similar properties, is that parking will most likely be provided at another location. 
Maybe like one of the two giant parking decks on the other side of the RR tracks? 
A couple of tid bits from this article:
…the company is currently considering a hotel or condo development for the site, but no official plans are yet in place.
The land is currently zoned for Downtown Mixed-use – allowing for up to 12 stories – and Moore said his firm doesn’t plan to rezone the property when the time comes to develop.
But until CityPlat moves ahead with its plans for the site, Moore said the company has lined up a pet-centric retailer that plans to set up shop this year.
Pop-up dogwashing station!
