Current status of 301H, 400H, Edison tower


#1

3001H was canceled and the land bought by the Fallon Company for ‘future’ development (I’m gonna call it land speculation).

https://www.falloncompany.com/projects/301-hillsborough-street/

“Project Notes
PLEASE NOTE: The project’s design and development program remain to-be-determined.”

The Edison: http://www.highwoods.com/find-your-space/detail/338/the-edison

Absolutely no plans to move forward. Awaiting tenant but I ask you what company wants to wait 3 to 4 years on a building they can only rent? This will be a dirt parking lot for at least the next 5 to 10 years. Longer if the next recession hits as hard as the recession of 2008.

400H: https://www.gensler.com/projects/400-hillsborough-street

Announced to break ground in 2019 but expect it to really break ground maybe 2021 or 2022. They don’t have a main tenant yet, at least from the announcements.

Besides all the hotels in limbo what other projects might as well be dead?


#2

How much of this is Amazon inertia? People just waiting on the announcement to see how much their land is going to rocket up. Also wasn’t there a Skyhouse 2 (Electric Bungaloo) project proposed at one point or am I imagining things?


#3

I don’t remember a Skyhouse 2 in Raleigh (there is one in Charlotte, though). The Edison office tower is basically the second half of the Skyhouse development. Now, Skyhouse has a track record of building two towers in different cities, so I would not be surprised if they eventually build a second one in DTR.


#4

You cannot lose sight of who the developers are and their financial capabilities. Your next likely projects are anything Kane related, the David Reynolds/League of Municipalities site and then perhaps Edison, because Highwoods now owns it. Not everyone can build on spec. Skyhouse got built because Skyhouse financed Skyhouse. I believe Atlanta as 2 of them also but that was a hazy night walking around their midtown…
The holding companies may very well indeed be holding in advance of an HQ2 decision. But I think in the case of Raleigh its a money maker regardless…just makes the curve flatter if they do not come here…


#5

Another big one that we’ve heard about is the News & Observer development and, in addition to the three mentioned by the OP, I’m skeptical that this one will get off the ground this cycle as well.

Big visions seem to struggle to get off the ground here. Our region’s main selling points are (1) cheap real estate and (2) a limitless supply of entry level employees (aka new grads.) Neither of which are especially conducive to building big glitzy towers.

This is of course somewhat hyperbolic, I know there are other good things about Raleigh, but those are definitely two of the things that set us apart from other locations.


#6

If these Projects…301 H, 400 H, Edison, and N&O site are in limbo maybe they should Just start from scratch and think of a better use for these projects. Glenwood 0ne, and the Dillon, that are much of a success…continue to build 10 + story tall buildings to fill in the gaps of where these high rises should be. Just saying…guys.


#7

I checked again this morning but no update. Earliest 400H can start is June 2019.


#8

I really liked 400H, but 301H needs to go back to the drawing board. I also liked the latest rendering of the Edison tower, but would like it to be a bit taller :slight_smile: I have big hopes for the N&O site, so I think it is worth waiting a few years to get this one right. I think to “get it right” we need a major tenant to come to town (or RedHat really take off and build a signature tower). The N&O site is very important… a block from new City Hall and Fayetteville Street, right across from Nash Square (our city’s unsung treasure). It is worth the delay to get something we can all be proud of.


#9

Any update here? Both Pendo and AAP could be the trigger to start construction one of these towers. I was expecting to hear something new in January


#10

Not sure if it could be fast tracked to meet their deadlines, but if I was Pendo, I’d want to be in the Smokey Hollow Phase 3 30-40-story tower. Think of how much visibility a pink-lit crown and logo would get at that location.


#11

I think Pendo said they would be deciding on a developer for a new tower in the first quarter of this year. So hopefully we’ll hear something soon. Whether that means one of the 3 projects in limbo or something completely new will be interesting to see.


#12

The Edison tower has to start construction by mid June or they will lose their parking agreement with the City, so unless that gets further delayed we should see progress there.


#13

Some assemblage of properties (red) to keep an eye on surrounded by these other developments (yellow)…

  • HBS properties (York Properties) at 513 Hillsborough. Was once proposed as 10 story residential with ground floor retail back in 07/08. Zoned DX-12-SH

  • 401 Hillsborough (currently runologie/state of beer/exploris/ugly monkey). Zoned DX-20-SH.


#14

Wouldn’t that be 402H ? 401 H is above it?

Nevermind, 400H is above it, that is 401.


#15

Wasn’t there also talk about some redevelopment of the eastern half to the block where the Metropolitan (aka The Phoenix) is located (Lane, Dawson, Jones). I swear I remember reading somewhere that the owners were hiring a firm to look at redeveloping these properties that were damaged from the fire into another MixedUse type of project up to 12 stories?? Anyone else remember this?

IMO this is prime real estate that would link Glenwood South/Smoky Hollow to the State Government area.


#16

Yes, last I remember, the owners were supposed to select their development partner 1Q 2019.


#17

https://www.bizjournals.com/triangle/news/2018/05/22/vacant-fire-damaged-downtown-raleighbuildings-eyed.html


#18

There was a new fence and some construction equipment out back at 400H this weekend. Has anyone heard anymore about this project?


#19

Hmmm. :thinking: When can we break out the 'It’s hApp3ning!" memes?


#20

Construction can’t start on 400H until later May but I do believe demolition could start on the existing buildings before then.