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