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N&O Site

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10 minutes ago, Merthecat said:

Property was sold to Acquisition Group, of California, per the article linked above.  Apparently the buyers, who also own the BB&T tower, have been hoping to invest in the property for 30 years.  :o  Hopefully that means they will build something truly special.

Exciting times!

We can only hope.

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I would like to see something on the scale of the Charlotte's recent 300 South Tryon and Kimpton Hotel project. These would fit nicely with the office tower on Salisbury and the hotel or hotel/residential overlooking beautify Nash square with underground parking and retail and restaurants along McDowell, Martin, and Salisbury. But instead we'll probably get a stick built apartment around a parking deck :( 

 

300SouthTryon.jpg

Edited by InitialD
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1 hour ago, InitialD said:

 But instead we'll probably get a stick built apartment around a parking deck :( 

Quite a leap, seeing as nothing  so far even indicates something close to that.  Here's the quote...  "The 3-acre N&O property will be developed into a mixed-use complex that could include stores, offices, housing and a hotel" 

And also, they bought it for $22 million.  It's gotta be dense to make money.

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I sure wish First Citizens Bank would announce a tower on this site as a signature tower for Raleigh like BofA did with the old Charlotte Observer site in the Queen City.   This 33 story building will be 620 feet tall, the new 4th tallest building in the state. 

LHlegacyunionnew.jpg

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15 hours ago, MireLanski said:

Just checked out their website. Only three properties under their belt. Doesn’t give me much hope.


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I think the N&O article said they primarily invest in oil and gas stuff....? Anyway, I got the jist they were broad based opportunists and not just property managers/developers. 

2 hours ago, KJHburg said:

I sure wish First Citizens Bank would announce a tower on this site as a signature tower for Raleigh like BofA did with the old Charlotte Observer site in the Queen City.   This 33 story building will be 620 feet tall, the new 4th tallest building in the state. 

LHlegacyunionnew.jpg

Interesting that the old 1991 First Citizens "proposal" looks a lot like your post 

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^^^ Classic bank design.   I wish First Citizens would anchor a building in downtown Raleigh for they are huge.  Even that new First National Bank which rolled up some local banks is building a tower to raise their profile.  

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On 12/1/2017 at 9:11 PM, KJHburg said:

^^^ Classic bank design.   I wish First Citizens would anchor a building in downtown Raleigh for they are huge.  Even that new First National Bank which rolled up some local banks is building a tower to raise their profile.  

Reminds me of the design of 191 Peachtree Tower in Atlanta.

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Might not be a popular opinion with the height-obsessed people, but I wouldn't mind seeing this type of massing for the N&O site.  High-rise (~400') at Salisbury/Martin corner.  And 6-floor building with wall-to-wall retail along the Nash Sq frontage.

 

2 hours ago, ricky_davis_fan_21 said:

image.thumb.png.a3732d511505b2d1a4b8ff6e88a49b48.png

 

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25 minutes ago, Green_man said:

Might not be a popular opinion with the height-obsessed people, but I wouldn't mind seeing this type of massing for the N&O site.  High-rise (~400') at Salisbury/Martin corner.  And 6-floor building with wall-to-wall retail along the Nash Sq frontage.

 

 

I don't love the "Cock & Balls" massing. This will be Charlotte's 3rd building being built in this manner and there is one more left in the pipeline (Polk I believe) At least the effect will not be as drastic as Novel Stonewall Station, which is an abomination. Apologies for my crassness at the beginning.

Edited by ricky_davis_fan_21
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I think that would be an excellent project. Tall building facing the park. Preserved the all the stuff facing Hargett and a nice little plaza/art/entrance thing on the corner. 

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Wonder what the status of the AT&T building is? ( next to N&O site)  Last I heard it was basically empty.  Was build around 1970, +/- a few years, to handle tons and tons of electro-mechanical phone switches and space was never needed due to advances in computer based switches.  I'm guessing would have to be demolished being it's mainly just an overbuild concrete box.,  I seem to recall that was built to be able to support 20 floors of switches.

Edited by Scotchman

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Wasn't so much computer control of a telephony switch but rather the type of switch matrix. The 1ESS introduced in the mid-1960s had computer control but its switch matrix was still inefficient in terms of square footage. The 1AESS introduced in 1976 was better but it was quickly surpassed by Nortel's DMS-100 and later the 5ESS.  The last 1AESS in AT&T's network was replaced last year by a product from Genband, a successor to Nortel.

Many telcos around the world have made a one-time killing by selling their surplus real estate... British Telecom in London, for example. But my guess is that most of the downtown copper pairs and possibly fiber pairs come into that building. Not likely it will go anywhere. 

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Yep, I really like the N&O sketch. Looks like a new tallest pushing 35 or stories and a 20 story in the back. That would be a huge skyline changer, from every direction.

 

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N&O offices are officially moved to city plaza as of this week.  So existing buildings at the old N&O block are empty now.  Wonder if we'll start to hear some more news about the development plans now that the relocation hurdle is out of the way?

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6 hours ago, ctl said:

Any bets on how long before the new owners apply for a demolition permit?

Not a betting kind of guy, however, I am of the thought that it won’t happen for a long, long, long time...I think that they don’t have a tenet and will bide there time until they do...imho 

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Owners will have to pay property tax, liability insurance, costs of security, etc on a vacant structure. They might not rush to demo, but I don't believe they will let it sit there for years. 

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I wonder how much this site is in play for Amazon. According to the latest N&O article, Amazon's visit was only interested in two areas - downtown Raleigh and RTP.  A couple 40 floor towers on this site could help them get close to the initial 500,000 sq feet they will be needing, along with some new towers in Warehouse and elsewhere.

In similar situations I've seen demo take place then a surface lot be put up. Parking fees offset demo costs. I think this is what the Edison office tower site did.

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41 minutes ago, InitialD said:

I wonder how much this site is in play for Amazon. According to the latest N&O article, Amazon's visit was only interested in two areas - downtown Raleigh and RTP.  A couple 40 floor towers on this site could help them get close to the initial 500,000 sq feet they will be needing, along with some new towers in Warehouse and elsewhere.

This would be a dream come true. Amazon clearly stated in their RFP that they want to be located in an Urban environment. I see the N&O site and the 300 Hillsborough sites as prime candidates for Amazon towers, if they did choose the area. 

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19 hours ago, ctl said:

Any bets on how long before the new owners apply for a demolition permit?

While they dither over the numbers, the economy will slip into a recession, the numbers will change, the property will be sold in order to produce cash to cover losses elsewhere in the portfolio...so I am guessing not in this cycle at all. 

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One Glenwood 

One Glenwood 

One Glenwood 

I think that I have made my point?

One Glenwood is the way that developers see a fast return on investment. It looks an awfully lot like an office building and parking deck built next door that you will find all up and down  Six Forks Rd.,  Falls of the Neuse Road etc. Nothing really special or different as even the height is par for the course. So yeah, I am expecting an office/apt building next door to a 6 or 7 story parking deck.... God, please prove me wrong! 

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