Stats From The State of Downtown Raleigh 2017, Developments

Released in April, I’ve finally gotten around to diving into the 2017 report for the latest figures and fancy graphs of downtown activity. I’ll spread these out over the next few weeks and share what I think are some of the more interesting and thought-provoking stats.

I’ll start things off with the development list. This includes all under construction, recently completed, and planned developments. Development fans should keep this one close by for reference.

Of course, you can jump into the whole report here.

2017 State of Downtown Raleigh

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Comments

Boylan Flats is actually under construction now if one considers site work to be inclusive of that category. At the corner of Peace and Boylan, a developer plans a boutique hotel if he can get it rezoned. They’ve already had their first meeting with the neighborhood to discuss it.

What an impressive list! Can’t help but feel just a bit bad about the Metropolitan Apartments still being listed as “under construction” … don’t expect that project to be completed anytime soon.

Yesterday I noticed what appears to be a fairly new “For Sale” sign at old Trailways Bus Depot site (1201 S. Blount St). Nice to see that being actively marketed. Anyone have any info? Couldn’t find the listing on-line and didn’t think to copy down listing from sign.

What about 301 Hillsborough? I didn’t see this on your list. Its expected to cost $160 million.

Does anyone have any info on the lot at the corner of Hargett and East?
http://www.loopnet.com/xNet/Looplink/Profile/Profile.aspx?stid=naiglobal&LID=19588548&linkcode=31732

Dan, 301 Hillsborough is called City Centre by the developer and is listed in the Capital District group.

If I added correctly, just the announced numbers alone represent nearly 1.25 B dollars.

@William. That parcel was discussed in this forum not so very long ago. Here’s the link although it probably doesn’t add much to what you already know …

http://dtraleigh.com/2017/04/pic-of-the-week-156/

@John532 – Which corner? I’m guessing the SE, but you never know.

NewRaleigh reports that The Remedy Diner (137 E Hargett St) is moving to 927 W Morgan St, formerly P.G. Werth’s (next to Irregardless Cafe) – given that Remedy sits in a short old building next to a corner parking lot, I’m thinking potential new development?

@Eric. Yes, the SE corner on the north side of The Paramount condo. From what I understand there are currently 2 hurdles. 1.) rezoning and increasing the floor count to 5 from 3 and 2.) the big evergreen tree that sits on city property near the corner and is maintained by the city botanist. I am less sure about the second hurdle given what I have heard.

@Jake I wouldn’t be surprised. That building, the one its attached to that looks pretty much empty, and that corner parking lot would be pretty good size spot for a new tower hopefully! Any idea what its zoned for? 20floors?

DX-7, I believe.

Yes. It’s DX-7, as are all of the immediately adjacent properties. The building Remedy is in is dated 1926. While it’s nothing particularly significant in its detail, it may or may not have historic designation. Frankly, I don’t want to lose these buildings for a 7 story replacement.

A tower on the Remedy Diner corner would fill in the skyline between Wells Fargo and PNC when viewed from the money shot..

how bout you armchair developers focus your imaginary tower on just the parking lot and leave the 1926 building alone? smaller footprint, so go twice as tall – everybody happy. just because a ground floor tenant moves doesn’t mean the building is getting knocked down. (also, bldg next door is 1948 and probably has historic looking features hidden under the stucco)

Agreed. I would love for the Remedy building to remain, also agree it would be shame to knock it down for 7 stories. However, a 7 story structure on that parking lot would be a nice addition. I think it’s about 4,500 feet? Obviously I’d be ok with something taller, but I wouldn’t complain about a small parking lot getting replaced with a smallish apartment building.

TBJ reporting sale of lot at corner of Hargett and East to developers for 5.9M! @William, you have impeccable timing asking about this very plot only yesterday. This purchase includes Wintershaven apartments (section 8 housing) along with Winter Square due east of the Lincoln Apartments.

Interesting timing indeed, TBJ. ;)

@mike how bout you relax… I would absolutely love to see the 1926 Remedy building stay intact, along with the ol’ stucco building next door, and I’d love to see a 7-10 story tower on the corner parking lot. But since the Remedy is moving after years and years at the same location, one can only start assuming the worst (or best, depending on who you ask) – that their lease was not renewed because the building owner is shopping it to potential developers. You know how much developers care about old, historic buildings in Raleigh (which is 0%, unfortunately). I wouldn’t be excited about the Remedy building being knocked down, at all. But again, hard to deny the possibility when its long-time tenant is suddenly moving out.

The few rows of ~100 year old, 2 story buildings left in DT are the foundation of our city and mean so much to me. Hell, even the banner photo on this blog is of such a strip. These few strips add charm, character, texture and humanity to our downtown and remind us Raleigh’s humble beginnings. I really want to keep as many or all of them that we can. The slow erosion of these storefronts will turn us into a soulless core like we see now in Charlotte where Belk’s old flagship store was replaced with with the BofA tower. Is it worth it? I dunno. It would seem to me that we can put these towers in empty parking lots or on sites of less historical significance.
That said, the reality of the UDO is that its “guarantee” of building rights is going to set land prices and sales at those prices will financially demand that the land is maximized. The only way around this would to get all of these buildings historically protected.

Idk maybe im too new school but i just dont see it with the building Remedy Diner is in or the one attached to it. Im all for keeping Raleighs character. I dont believe everything should be shiny new glass. But i also dont see the problem with tearing down old ugly buildings and utilizing those prime lots. There are still plenty of nice old buildings everywhere downtown, including farther down Hargett and across the street from Remedy. Not everything old means it needs to be viewed as a shrine too sacred for redevelopment. Raleigh is far far from losing the character it has.

With that said, i would be absolutely fine if they squeezed something into that corner lot and didnt tear down those buildings at all. As was already mentioned however, doesnt really look like thats the plan.

I agree completely with John532. It was heartbreaking to see the demolition of the beautiful row of four Italianate storefronts on the 300 block of S. Wilmington (Isaac’s, Reliable Loan, etc.) Yes, Raleigh is rich and booming and fun. But what is the most salient criticism we receive from people who are considering moving here? That Raleigh has no “soul,” no “character.” So we are losing the people who want to move to a place with soul and character. They are moving instead to Richmond, Asheville, Portland, etc. And we are attracting more people who don’t care about soul or character — people who just want new stuff. Well, “of all desirable attributes, newness fades the most quickly.” Raleigh needs to make a new commitment to historic preservation.

I think we’re all pretty much on board with “preserving” the Remedy as the best option. Honestly the three parking lots on that block are all big enough for mid-rise buildings, and a mixture of new, especially something like that Hobgood tower proposed on this block, would mix well with the old. Problem is, people would scream bloody murder if they lost some parking spaces and didn’t include a parking deck in the new buildings. Lots of people are upset that the Crank Arm proposal doesn’t include parking.

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