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Tripps Redevelopment

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The redevelopment of Tripps has been submitted to Development Mapper.

Article here.

The project is a 6 story, 151 room Hilton Garden Inn plus a four story 84,000 office building called City Centre. Both buildings would be connected to a 320 space parking garage.

This is just the latest in a series of new hotel proposals downtown.

  • Hotel Indigo and Aloft were both built this decade
  • Ellington was proposed and cancelled
  • Site preparations are currently underway for Hyatt Place
  • Cambria Suites is proposed adjacent to Haywood Park and across the street from Grove Arcade
  • McKibbon's hotel planned across from the Basilica of St Lawrence is cancelled
  • McKibbon now plans a redevelopment of the BB&T building, its parking garage, and some empty lots that are adjacent and across the street, which will include a hotel of some sort.
  • A local hotel owner has bought several parcels on Patton Avenue near near South French Broad Avenue. Speculation is that he is considering building a hotel there.

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I'm not sure if the design of the office building is final, but I kinda like it. I'm curious as to which bank would move there. In my heart of hearts I'd wish Bank of America would move from their nearby spot in order to free up that site for redevelopment.

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BB&T would be my first guess. As we all know, their current downtown building was recently sold and they are likely to be evicted fairly soon for the planned gut/rehab of the building. In fact, I would guess that loss of 90,000 square feet of office space at BB&T is probably the main reason for the office component of this proposal. I think I've heard that demand for office space downtown is relatively flat these days, but a proposal that just replaces lost space at a rate slightly lower than 1:1 certainly would make sense

Plus, this proposal includes a drive through, which matches with what BB&T would be losing at their current downtown location.

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From Asheville Citizen-Times:

 

"ASHEVILLE – At least two major tenants of the BB&T will move to a new office building planned for the east side of downtown.

The move come in part because of a hotel developer’s plans to renovate the 17-story BB&T Building, turning it into a boutique hotel and condominiums.

Another developer, Rusty Pulliam, and his business partner, John Spake, plan to build a four-story office building called City Centre on the site of the former TK Tripps restaurant at the corner of College and South Charlotte streets. They plan to sell an adjoining piece of property to a Winston-Salem company that will build a six-story Hilton Garden Inn on the 2.4-acre site."

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And there you have it.

 

The new building is supposed to be completed in 2 years. I wonder if McKibbon will hold off on the renovations to the BB&T building until then, instead concentrating on the AC Hotel where the parking deck sits today.

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As mentioned before, the office building is probably the big push here. Demand for office space in downtown Asheville is fairly soft but the supply of class A space is also very small. All the displaced tenants from the BB&T building need a place to go, and this is it.

 

Tripps was pretty cool about 20 years ago, that says a lot about how Asheville has changed since then.

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