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ncsugrad204

Bank to Move to the Capital City

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Local brokers expect a new RBC headquarters office would rise 15 stories from a nearly 1-acre parcel bounded by East Martin, South Wilmington and Fayetteville streets.

The land is owned by Progress Energy. The Raleigh utility, the only Fortune 500 company based in the Triangle, has been a major force behind downtown redevelopment.

Is that the emply parking lot that used to be owned by First Citizen's?

EXCELLENT NEWS! This is just what we need to keep the momentum going DT, another corporate HQ!

Can the Reynolds project at 301/309 hillsbrorough be far behind? :w00t:

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Is this where the First Citizens building was going to go, or is it where the Lichtin project was to be? If its the former, I don't think 15 stories is large enough, but if its the latter, its bigger than what was going to be there, and it wouldn't be taller than Progress 2 so you'd still be able to see that building as well.

GREAT NEWS, definitely makes this Friday much better :-D

Update: Definitely looks like its going next to the Hudson where the 30+ story First Citizens would have gone...I kinda wish they would go taller if they are going to build there...thoughts?

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Awesome!!!!

Not to be greedy, but getting another tenant and puching this thing higher would be nice (I'm looking at you news and observer)

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Awesome!!!!

Not to be greedy, but getting another tenant and puching this thing higher would be nice (I'm looking at you news and observer)

<{POST_SNAPBACK}>

VERY good point ;) Maybe a few of us should shoot some e-mails over there to them.

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Aha!! I knew it. RBC Centura looks to be making a turn around. They were doing very well previous to the RBC buyout a few years ago.

Maybe They release some renderings at a press conference or something. However if the building is just 15 stories I think they should pick a tract outside of that fayetteville street area. You would'nteven be able to see that building coming in to downtown really. They would be better of picking a spot to the west of all of that in my opinion. Hopefully it's glass and like Romec said grab another tenant and built higher.

More, More I say.

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I think that's the perfect spot for a new bank tower--right near the other DT HQ, Progress Energy, and near other banks BA, Wachovia, etc. I do agree that a 25 story tower would be much nicer!

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I posted this somewhere else but I figure I'll post it here for UB ppl to c:

I hope they don't put a 15 story tower where a 30 story tower was meant to go back in the early '90's, hopefully they'll put it somewhere with a smaller lot, thereby preserving the lots that could support 30+ story towers...

I feel like a kid trying to hold back a temper tantrum at the thought of a 15 story building going in that lot. I mean it centered in between the bookends! If an actual highrise were built there it could actually help balance out the skyline! *Sigh* Why can't a bank push it's US headquarters up to at least 25 stories? Will it stand out at all from it's surroundings there or will it simply blend in with all the other midrises?

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I agree that this is excellent news for Raleigh, and like others I hope the bank will consider anchoring a much taller building. Obviously, while the bank would be the primary tenant, figuring out how many square feet (and therefore how many stories) beyond what the bank would occupy is based entirely on the greater office market. Building something too big that floods the market with space isn't necessarily a healthy thing for downtown, and the Raleigh office market has been soft for years. It seems to be making a comeback, though, so that could signal an increase in demand to sustain that type of development.

You know what would be even better than an office tower? A mixed-use tower anchored by the bank and at least one other major commercial tenant, with ground level retail, a health club, a downtown food market, and condos. Maybe you could even take it up to 40 stories to maximize office and residential densities downtown (with the added bonus of putting a nice punctuation mark in the middle of the skyline-- nice trophy building for a US headquarters, no?)

Here's hopin' the market can support something like that. :thumbsup:

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Very nice. Seems like I had always thought it would be 25 stories though. Hmm, do not bank (no pun intended) on this but some downtowners seem to think RBC will end up in the Reynolds tower on Hillsborough. With all the parking decks already in place, and some ground level retail to go along, I say put a big ol' 30+ tower on the First Citizens/Progress lot and mid-rise Hillsborough like crazy instead of vise versa. Another post somewhere mentioned that Raleigh needs another axis, and I kinda think abunch of 6-15 story buildings all the way to St Mary's would be perfect.

I may be reading into things too much, but I got the impression from an N&O article about the TTA RFPs for a master developer, that grocery stores are a priority near the TTA stops. Could downtown get one near the west Raleigh stop? Any thoughts on that area for a grocery store?

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Even though I am a fan of the Reynolds Tower I would definately wouldn't mind seeing Raleigh's new tallest placed on Fayetteville St, and a 15 story tower placed where Reynolds is supposed to be. Perhaps RBC could go in the Reynolds Tower. But I also, like others, wonder if Progress Energy would allow some1 to build a new tower taller then their own on land they r selling to a company. This would suck though, especially on that lot which deserves much better then a 15 story tower.

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Good news but i'm not surprised as banks move around like nomads, these days.

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that article also stated that the hq could possibly be built on a lot several blocks south near the convention center. I hope that is where they decide to build. It would leave the space on Fayetville St. for something taller and more appropriate.

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The good news is that there will be a surprise announcement as a first-floor tenant to follow the bank location...let the speculation begin.

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Personally i am just happy that downtown Raleigh has landed another corporate presence. Yea i probably should be saying the tower should be tall and even a mixed-use complex, but think of all the momentum this could bring. City leaders have been planning for this for a few years now, and it is nice to see that their ideas have laid the foundation for more improvements.

A lot of people have been questioning the ideas presented by the Downtown Alliance and City Leaders because things have seemed slow. But now, there is added confidence in the downtown renaissance.

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Great news for Raleigh. Hopefully this will mean some mixed use development on the lower floors. Would love to see more amenities downtown so that I can spend even less time in my car.

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Great news once it becomes official.

On that note, for something speculative, the N&O sure does have a lot of specific information on the potential move.

I do like the idea of mixing condos into the high rise so that RBC can have a signature tower without flooding the office market with space. Afterall, there are parking decks taller than 15 stories!

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I believe it will be north of the new Progress Energy building where there is an empty parking lot (if it does move downtown). Progress had been the one trying to get RBC to move to Raleigh and I think it owns this land.

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I think it is great .....if it is true. Not the part about RBC moving to Raleigh, but the part of RBC moving to downtown. Thier proposed partner is Highwoods, who has one of the largest office holdings in the SE, but who is a SURBURBAN OFFICE BUILDER/MNG company. Highwoods has spoken lately of a new direction and this would be a start, but I will not believe until I see an official press release. If I were Highwoods, I would drive them to a new space on land or surburban buildings. Cost is KEY !!! It is cheaper and it is best for Highwoods who owns the lease for RBC. I am not a nay-sayer but will wait for celebration when the official press release hits the press I don't think Highwoods has ever built or mananged an Urban office project, but it would be nice to have one of the southeast's biggest involved in their own downtown home city. Who knows, maybe Highwoods can put together another proposal for an RBC signature buidling with another big tenant to get to 25-30 stories.

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I don't believe the move will be to an office park as one of the main goals of RBC is to get more exposure from this move otherwise why not just stay in Rocky Mount. I'm sure land prices are much cheaper out there. But this is just my opinion.

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What a great day! It is sooo exciting to have another HQ in DT Raleigh. We desperately need the recognition and the added benefits an HQ brings to a city. I am disappionted if the speculation is true about a 15 story building on the old First Citizens lot. Granted, a gleaming, attractive, glass tower can only help our DT but we in Raleigh know that we only have a few opportunities to score a major tower and RBC is one of them. Can't wait for the official announcement August 30. Maybe RBC and Highwoods have bigger plans.

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I have a question for the forumers, why is Capital Bank and First Citizens headquaters in the outskirts? this seams so wierd considering that home banks are usually always based downtown I.E. Charlotte. Also why is wake tech community college so quick to build way out in the middle of nowhere. :cry: I believe these twqo entities can also enhance out center city with a more mix of students and professionals.

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^Originally First Citizens was HQ'd in downtown Raleigh and they even had plans to build a beautiful 30 story building around the same time the what was then First Union Capital Center and BB&T building were being constructed. They even tore down a beautiful old building to accomodate it.

However, I assume because of the rush of real estate onto the market with the other two buildings, they decided to hold off. Eventually, the lure of an office park took hold and they moved out to Six Forks to that weird round building and now the former BTi building.

About Capital Bank, I assume they are just not large enough to have a corporate presense downtown? I'm not quite sure.

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I have a question for the forumers, why is Capital Bank and First Citizens headquaters in the outskirts? this seams so wierd considering that home banks are usually always based downtown I.E. Charlotte.  Also why is wake tech community college so quick to build way out in the middle of nowhere.  :cry:  I believe these twqo entities can also enhance out center city with a more mix of students and professionals.

<{POST_SNAPBACK}>

In reference to Wake Tech...Don't know the answer to that but if you think it is in the middle of nowhere now consider this. My family moved to South Raleigh in 1970 when I was 6 years old and that was the only thing in that area for years. Raleigh had a population of @ 100k then with @ 450k in the total metro area.One Million people later and it doesn't look to be so far out.Give it another 10-15 years and there should be total developement around there with Raleigh and Garner and Fuquay-Varina growing together.

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