MireLanski

Mystery Development?

11 posts in this topic

BidClerk has a project listed for Raleigh (Private sector) as Hotel/ Motel Office Parking Garage Retail Playgrounds/ Parks/ Athletic Fields Swimming Pools. The project is valued at $200,000,000. Anyone have any ideas of what this could be? I'm thinking of hotel prospects and I can't imagine the Residence Inn adjacent to the convention center will command that kind of price tag, plus it is already with parking deck. Perhaps this will be the site across from the L? Two hundred million still sounds rather pricey for 9 stories, unless it has been scaled up. If I recall correctly the total cost of the 16 story Marriott was $115 million, the PNC was $100 million, and Skyhouse is $60 million.  

 

More detail.  There is 18K sq ft. of commercial space, 32k sq ft. of ground floor retail, 576k sq ft.or office space and a parking garage.  So, I do not think this is Carolina Row.  

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I was thinking maybe this could be a scaled up version of the 2nd Charter Square tower, but it already has a parking deck. Maybe it's the old Greyhound station that Ted Reynolds just bought.

Edited by Euphorius

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I was thinking maybe this could be a scaled up version of the 2nd Charter Square tower, but it already has a parking deck. Maybe it's the old Greyhound station that Ted Reynolds just bought.

 

Any information where this is located? I'm not about to get my hopes up for some suburban megaproject, which is what it could easily be from the information you've posted.

 

A 626,000 sq ft tower in downtown would have to be around 36-40 floors.

Edited by Spatula

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626ksf would be the largest office building in Raleigh and possibly a new tallest building. But take this with a grain of salt. Things show up on Bid Clerk all the time that never come to fruition.

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It will be interesting to see what new development proposals come forth over the next 1-2 years. Raleigh is going through a 2 phase of its renaissance and I have a feeling that the best is yet to come.

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I'm wagering its the Reynolds as well. They are more or less idle at the moment while our other typical players are busy now (Sandreuter, Empire, White Oak). Greyhound is empty as of what...today?

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Greyhound is empty as of what...today?

Yeah. I think it was yesterday when they let the public in for tours of the new facility. I'm wondering if they could just use their plans for the hotel tower that was supposed to be between The Dawson and Holiday Inn. That was initially proposed as a 42+ story tower before it was scaled back numerous times. 

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I think its fairly obvious its a suburban project.  Playgrounds, athletic fields, parks, and swimming pools would be a tight fit in downtown.  Best case scenario I think we could realistically hope that this is for an urban project would be Centennial Campus' Village Center project.

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^ I took that to be canned language....it says hotel yet lists no hotel rooms, just office mostly, which would be another byproduct of tossing out canned language but putting the real concept in the sqft breakout. 

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It could be the development at 540 and Louisburg Road.  The description sounds closer to that one.

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This mystery development very well could be the Wake Tech expansion.  

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