Rezoning at the Firestone lot

Does anyone else here think that the City of Raleigh (planning dept., etc.) needs to just go ahead and request & approve ALL properties in the DTR CBD to 40 floors and be done with it…? Save everyone time :timer_clock: and money… :money_mouth_face:

20 Likes

Interesting idea. I would be inclined to approve that on the majority of downtown, but there are few blocks I think need to be lower. I think south and west of Moore, Nash, Caswell and Union squares for example.

Okay, I’ll bite…Lol :joy: :rofl:

Why…??? :thinking:

1 Like

South and west of Moore square is…Fayetteville St and adjacent areas…

Oh, just the next block, and keeping them to 7-10 stories. The block after could certainly be bigger. It could be the eastern side rather than west, its a flexible rule.
The light!! I want to sit in the squares and see the sky in the distance not just over head, and enjoy the skyline. I do not want to sit/play/drink in a little green square surround by hulking walls of buildings.

6 Likes

Another 20 floor to 40 floor rezoning in the pipeline across the street from this site…

11 Likes

When is someone going to ask to rezone taller than 40 stories? Also, when is someone actually going to build something at least 40 stories?

10 Likes

Probably not anytime soon, because there is currently no zoning category which permits anything over 40 stories. Additionally, the market demand simply isn’t there yet to enable the construction of 40-story towers—otherwise we’d probably actually be seeing some going up.

2 Likes

There’s only 3 residential towers in Charlotte that have a higher floor count than the Walter (35 floors): The Vue* (50 floors), The Museum Apartment (42 floors), and the Avenue (36 floors). The rest are 33 floors or below.

I think we’re doing pretty good especially if SMKYHLLWIII and the Zimmer Building get built and they both go over 33 floors.

We probably won’t get any tall office tower any time soon unless that F500 company rumor bares fruit but I heard they’ve looking at St. Petersburg, FL now.

  • The Vue is a failed condo project converted to apartments.
3 Likes

The Bank Tower is 60 stories. Not sure if any residential units are there .

In terms of residential only towers and not office towers or mixed office/residential towers.

1 Like

Had to giggle at the prohibited use case of “vehicle repair” (Benchmark operates on that property).

1 Like

Grandfathered in by being there before zoning change.

1 Like

TBJ posted an article about this rezoning. It appears only to increase the value for a potential sale in the future, the auto repair shop has 6 years remaining on their lease.

“Whatever comes of the request, any changes to the property may take some years to be realized. Benchmark Auto Works owner Louis Menditto said his company has six years remaining on its lease at the property.”

https://www.bizjournals.com/triangle/news/2021/10/11/cn-hotels-downtown-raleigh-40-story-rezoning.html?cx_testId=40&cx_testVariant=cx_45&cx_artPos=7#cxrecs_s

3 Likes

Developers will ‘buy out" a lease…easily. If the market is strong enough for a tower, Louis’ lease will simply be bought out. Benefit to Louis is he will bring forward some portion of “6 years of income” most likely. This was done with Smokey Hollow as an example

8 Likes

In case anyone missed this one the wire.

Location: 333 S Dawson St
Engagement Portal Link
Status: Approved 10-19-21.
Plan URL: http://go.boarddocs.com/nc/raleigh/Board.nsf/goto?open&id=C3ZU867981EB
UPDATES
Status changed from “PH 10-19-21; PC recommends approval.” to “Approved 10-19-21.

Another block allowed for 40!

18 Likes

Can someone help me understand this from the Sept. 14th, 2021 Planning Commission Meeting? Here is the description of the rezoning (image 1) and the supposed approval of the rezoning (image 2) that references the rezoning case number and title, but the descriptions in the minutes are completely different.

These minutes were adopted at a later meeting without any acknowledged changes.

Image1

Image2

I wasn’t sure if this was already covered, but N&O is reporting the lot beside the Firestone property was recently sold to a developer with plans to transform into high-rises. 220 West Davie St. which was once home to Mort’s trophies for $2.6M.



https://www.newsobserver.com/news/business/article259154193.html

18 Likes

image

17 Likes

Mort’s real trophy is the land he was sitting on.

21 Likes