Empire Properties stakes out new buildings downtown

[avery]

More news on Greg Hatem's downtown recent purchases and plans.

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[ChiefJoJo]

I was just down there--its right between Port City Java and Carolantic Realty on Fay St... a prime spot right in the middle of things.

[capitalapts]

I was just down there--its right between Port City Java and Carolantic Realty on Fay St... a prime spot right in the middle of things.

Hatem is going to be one rich mofo. Think of all the stuff he's already done. Wow.

[ncwebguy]

That is a steal for the Fayetville street property, and the Hargett/Salisbury acquisition is nice as well....

The McCroy's runs all the way to Salisbury, and its layout lends well to the "vertical mixed use" of retail under offices under apartments. And there is a limited amout of real estate that is positioned in the center of downtown.

[ChiefJoJo]

Empire buys 4 more bldgs DT

Buildings being purchased from the Satisky and Greenspon families include 210 S. Wilmington Street, where the Brass Grill restaurant is located, and the Ladies Shop at 20 East Hargett St., a clothing store that has outfitted generations of local women.

...

When the purchase is finalized in a couple of weeks, Empire Properties will own 14 buildings within a block of the intersection of Wilmington and Hargett streets. In those buildings, the company has a total of 200,000 square feet, and 90 percent of that is leased.

[Jones_]

Empire buys 4 more bldgs DT

That is freakin' awesome!! Finally, the tin sheets will come off the Brass Grill....now if Hatem can just get ahold of the buildings accross Wilmington and fix those guys up we will have something of a preserved and functioning historic district....

[Justin6882]

is that little green place on the corner really historic? I wouldn't mind seeing it replaced...

[ncwebguy]

I just walked by there last night! The green shop on the corner is "historic" in that it has been there a while, but it is really small. I hope this means it won't be turned into a Starbucks lol. Everyone who has had The Morning Times' coffee seems to enjoy it.

The Brass Grill's two buildings and the bail bonds place have an unused second story -- putting office space there will help liven up the currently dull corner. Maybe the Brass Grill can have night or weekend hours soonish. Hopefully retail or a restaurant can replace the Downtown Raleigh Alliance's space in the parking deck on Wilmington too.

It kinda feels like Monopoly -- if Empire gets one more corner *cough* M&F parking lot *cough*, can they start building hotels (or apartments/condos)?

[Subway Scoundrel]

I guess I take somewhat of a contrarians

[ChiefJoJo]

Well, as I understand it, he is Empire properties as you said, but he has a staff of people who help manage his properties and new projects--> Empire website. I think he just hires the architects/engineers/contractors to do the upfit for the buildings, so it's really a question of having the cash to buy it up front. To me, like Jones133, if you like the idea of preservation--and not just sexy new skyscrapers--in Raleigh, this is very good news.

The area right there from Hargett down Wilmington over to City Market has real potential to take off as a small historic district.

[ncwebguy]

Other than the property near the State Govt TTA Station, Empire has not really "sat" on its property.

Raleigh Times was delayed partially due to moving Sellars Beauty Salon from Wilmington to Hargett and then back again. Morning Times' delay was not due to construction, as its kitchen feeds Times Bar.

They were more than fair to Est Est Est and Cuba before deciding you can only go rent free for so long. If Empire "sat" on its property, there would be no Urban Design Center or the basement art gallery in 133 Fayetville, Rivera would not have opened until all three floors were ready, and the Mahler Gallery would not be well under construction.

Fayetville/Hargett to Blount to City Market is already pretty historic looking as it is. The area around the bus terminal is the remnants of the Moore Square Arts District. 3/4ths of Martin and Wilmington *won't* be historic with RBC coming on line, the potential tower in the Moore Square airspace and Jimmy's City Market, and Progress Energy's potential parking deck on the southeast corner. The Curtain Law building on the northwest corner was recently purchased as well.

[Transplant]

I'm not too familiar which properties these are. Is renovating these really the best use of this property? Or should these be designated for something 'bigger'? Maybe a 10-12 floor condo building, w/retail?

[Jones_]

I'm not too familiar which properties these are. Is renovating these really the best use of this property? Or should these be designated for something 'bigger'? Maybe a 10-12 floor condo building, w/retail?

No way...Hargett-Wilmington is the last continuous glob of historic and semi-historic buildings left downtown....any tear down is a step back in this area.....the sun reaches the streetscape, the buildings have character (RBC will have none whatsoever)...Hatem is putting his only new highrise where they belong...down by the PE Center...this 1943 picture of Hargett Street shows the ladies dress shop and one of Brass Grills buildings without the metal sheets covering the facade....very nice I think

[Subway Scoundrel]

No way...Hargett-Wilmington is the last continuous glob of historic and semi-historic buildings left downtown....any tear down is a step back in this area.....the sun reaches the streetscape, the buildings have character (RBC will have none whatsoever)...Hatem is putting his only new highrise where they belong...down by the PE Center...this 1943 picture of Hargett Street shows the ladies dress shop and one of Brass Grills buildings without the metal sheets covering the facade....very nice I think

Yes I agree. very nice. I guess my post above is not meant as a slam to Hatem but when will Empire get around to take the metal sheets off. (if that is the plan) With all that Empire has going on, when does that make the top of the list ?

or would it make the top of the list of someone else who bought the building faster if their ownership list of historic buildings is not as long ?

[Transplant]

No way...Hargett-Wilmington is the last continuous glob of historic and semi-historic buildings left downtown....any tear down is a step back in this area.....the sun reaches the streetscape, the buildings have character (RBC will have none whatsoever)...Hatem is putting his only new highrise where they belong...down by the PE Center...this 1943 picture of Hargett Street shows the ladies dress shop and one of Brass Grills buildings without the metal sheets covering the facade....very nice I think

Aside from the structures Mr. Hatem has recently purchased, those in City Market, and the Blount St. houses (which should be moved), what other older structures should be kept around?

Focus on the CBD area, For me this is the area inside of: Train Tracks, jones St., East St, and south St.

Ie. Should the buildings around Nash Square be kept? The warehouses?

We are years away from hitting capacity DownTown, but I'd love to know what other forumers feel are important buildings.

[ChiefJoJo]

Fayettville/Hargett to Blount to City Market is already pretty historic looking as it is.

Yeah, what I meant was a historic district that actually has some life after 5pm or so and on Saturday afternoons. There is some of that now, but lots of renovation and revitalization left to do.

I definitely agree that all those buildings should stay and be renovated, and the more I think about it the proposed mystery tower probably doesn't belong, although there will be tremendous pressure to redevelop with rising land values and RBC and Progress developing nearby.

[Jones_]

Aside from the structures Mr. Hatem has recently purchased, those in City Market, and the Blount St. houses (which should be moved), what other older structures should be kept around?

Focus on the CBD area, For me this is the area inside of: Train Tracks, jones St., East St, and south St.

Ie. Should the buildings around Nash Square be kept? The warehouses?

We are years away from hitting capacity DownTown, but I'd love to know what other forumers feel are important buildings.

Everything in the 200 block of fayetteville that is 1930ish or older (meaning both old Wachovia and First Citizens can go), with say some major restorative work to the old Hallmark and the first level facades south of Briggs. The 200 block of south Wilmington minus the concrete block apparel store next to the tatoo place. The SE and NW corners of Martin and Wilmington are the oldest buildings in the CBD other than Helig-Levine, Prarrie, Briggs and Mahler (Seaboard is not in the CBD by your definition but is c 1862), all of which should be kept. Relatively speaking most of city market is not historic at all other than the Market Building itself, the Norwood House (Architects office next to Subway) and the other Architects office that faces the whirlygigs accross Martin. I also think the Berkley and Laytons Catering on Martin should be preserved, old Union Station has been altered/restored already, the block of buildngs containing Neros Heros, The old Post Office is a no brainer (c 1879). Captial Room and its sister building in the 100 block of Fayetteville and everything on Hargett other than the communications nerve center christian sceince reading room and M&F bank should stay. Also the african american Masonic Lodge on Blount is an unnoticed gem. I know I missing some, but if a building has any soul, I prefer to keep it....

[ChiefJoJo]

Here's Empire's All Saint's Chapel project, which was recently moved from Morgan St to this site on East St:

It's hard to see from the pic, but the new foundations have been poured and it looks like it will be placed on the concrete soon, with more interior work to come I presume.

BTW, here's an old article on Empire's purchace of the Raleigh Bonded Warehouse from 2005.