That was actually kind of a neat Brutalist building in its own right. Every building in this town seems to go through five iterations to whatever the current style is while they’re surrounded by acres of parking lots and underused parks (and we keep doing it, hello Bath Building).
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I think that the massing, in this case, is the most important part to have. That is the core to work from. The interior would be need to be much different regardless, so no worries. I would surely like to see the interior of the depot as it was - a floor plan - and there is some vague memory that I have see it … 
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I think that the difference was that this building facade was mostly just covered up, not stripped.
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As I recall, the Death & Taxes building was a matter of ripping off the cladding, replacing the windows, and restoring the cornice (which had been partially removed).
Union Station appears to be completely different. I don’t think there’s any of the old stuff left to be “uncovered” - the masonry on the front facade facing Nash Square has been completely redone. The arches over the windows and entrances don’t seem to exist at all anymore.
At any rate, of course it is possible. It’s just a matter of whether it’s worth the expense or not.
It is extremely unlikely that private money would bankroll such an undertaking alone. It would require subsidy of some sort. So, who pays, and how much?
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Not to get too far off topic, but here are some cool pictures inside and out of some Raleigh Train Stations! 
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All for preserving history, but if you are rebuilding the clock tower, rebuilding facade, putting in new windows, and extending the awning — are you perserving history or just making something new that is supposed to look old?
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While it’s at a much smaller scale, it’s like rebuilding Notre Dame (again) - why not recreate something beautiful?
You know the alternative is some variety of glass box.
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In this case, you’re technically recreating it, but is that necessarily a bad thing?
Gary Hall Jr. isn’t going to mind that the IOC is recreating his ten Olympic medals lost in the Palisades fire last week. Is it as good as having the originals? No. Is it better than not having at all? Yes.
Note to self. If I ever win a gold medal, get a fireproof safe.
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Ever been to Williamsburg VA??
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If they used similar/the same building techniques and materials and went with historically accurate design details to the extent possible, I would consider it a “restoration” rather than a “reconstruction” and it would certainly be a worthy historic structure.
Tryon Palace down in New Bern was built in the 1950s (apart from the stables which are original). In spite of the fact that the only part of the palace that is original is the foundation, it is nevertheless considered a historic landmark. It is a fantastically accurate reconstruction, following the original plans and using construction methods and materials that would have been in use at the time, rebuilt precisely in its original location.
In the case of Union Depot, nearly the entire original structure from 1890 is still there (with the obvious exception of the clock tower.) In spite of all the changes and deletions that have been made since, I see no reason that, if a restoration were carried out according to the original plans, it should be considered anything less than authentic.
The only problem is, the more that has to be restored, the harder and more expensive (and less likely to make economic sense) it becomes.
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The comparison to Tryon Palace is a good one. I was there a few months ago and you can easily fool people with it, that it’s not original. If I remember correctly though, the rebuild of it was basically a meticulous side project for 5 wealthy women. Do historic preservation folks in Raleigh, with money, have the will to take that on here?
There were probably less hoops to jump through back then. I think those women also had political connections.
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Do keep in mind that it would be pointless to restore the interior. Raleigh does not need another downtown depot, historical or otherwise, at this time. We, or at least, I am interested in exhibit and public event space inside the building, which would, I imagine, entail a complete reworking of the interior. The fact that there is little or nothing to save makes this easier in many ways.
I would love to see the outside restored, clock tower and all. Heck, keep the old central fire station and make that part of the museum as well. Who amongst does not love a fire trucks??
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That’s what Berlin did with their main City Palace. Restored 3/4 of the beautiful exterior, built a useful, cost-effective modern interior. It’s really nice.
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Indeed, great point! Here is another link to this total reconstruction for folks who want more photos. We’ve got more to work with then Berlin did!!
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Thanks to you and to @orulz for the story and comparison to Tryon Palace. Clearly the biggest obstacle is 
and political will.
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I actually think that restoring at least the waiting area (whatever it looked like - can’t find any photos!) should be an essential part of the project. Don’t have to recreate the furniture or fabricate identical hardware or fixtures, but the overall architecture including whatever details and flourishes should be reproduced to the extent possible.
A meticulous restoration like this would absolutely not be economically feasible on its own as a private, for-profit venture.
So the money has to come from somewhere:
-Private investment (in the form of a PPP?)
-Private donations
-Historic tax credits
-City funds
-State funds
-Federal grants
I don’t have a great idea what this would cost but let’s ballpark a $50m budget for a project like this, to do it right anyway. (Custom masonry, ornate historically accurate windows, and detailed interior work don’t come cheap!) If my SWAG estimate is accurate, I can’t support the idea of city taxpayers shouldering the full burden. So if enough other sources can be cobbled together to bankroll this - then, awesome! Let’s go!
But… color me (highly) skeptical.
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I think that having this building renovated to serve as the new CAM, City Of Raleigh museum would be a great addition to our limited supply of special/unusual places. Now, add a fountain 
and we’re good to go 
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