Share this Post
City leaders have said it’s badly needed and, last month, Raleigh’s City Council took steps toward making it a reality: An anchor hotel located just steps away from the Raleigh Convention Center.
Council members voted unanimously to seek out teams interested in redeveloping two Fayetteville Street parking lots into two mixed-use towers, including an upscale, full service, national brand hotel with 500 rooms and meeting space. The second tower will serve as a headquarters site for the convention center incorporating offices, ground level retail, residential units and “other creative ideas,” with below-grade parking underneath Fayetteville Street.
City officials will receive ideas from interested developers for the 2.5 acre site by the end of March.
“I want to emphasize that we are looking for great design,” said Mayor Mary-Ann Baldwin during the January council meeting where city officials introduced the project. “[The city owns] these sites so we have some say and I hope [interested developers] set the bar especially high. This is our waterfront property and we want [it] to reflect great design. People are coming here from all over the world. That is what they’re going to see, so let’s make it all it can be.”
Council member Nicole Stewart said she is looking forward to seeing a residential component in the mixed-use tower, as that part of downtown “is a little unbalanced right now, it gets pretty quiet at night,” and that she hopes the city can prioritize local partners for the project. Council member David Cox added that he would like to see affordable housing included.
Downtown Raleigh attracted 3.4 million visitors in 2018, an increase of 47 percent over 2007. Last year, Raleigh and Wake County approved $14 million from hospitality tax revenue to buy land near the convention center for future use and committed $5 million in 2021 to improve and optimize the center. The city and county have also planned a $230 million convention center expansion in the next decade.
1. Duke Energy Center For the Performing Arts
2. 1,030-space parking deck
3. 175-room Residence Inn
4. 6,000-seat Red Hat Amphitheater
5. Raleigh Convention Center
6. 401-room Marriott
7. Charter Square | 243k sq. ft. Class A office
8. 622-space below-grade parking deck
9. FNB Tower | new multifamily/closest office tower
10. 992-space parking deck
11. The L Apartments | 83-unit multifamily
12. 500-space parking deck
13. Two Hannover Square/BB&T | 437k sq. ft.
Class A office
14. 353-room Sheraton
15. The Sir Walter | 140-unit multifamily
16. One City Plaza | 373k sq. ft. Class B office
17. One Progress Plaza | 455k sq. ft. Class B office
18. 1,000-space parking deck
19. Red Hat Tower | 366k sq. ft. Class A office
20. Palladium Plaza | 65-unit multifamily
21. Capital Bank Plaza | 168k sq. ft. Class A office
22. The Edison Lofts | 223-unit multifamily
23. 715-space parking deck
Share this Post