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Soleil Center I & II at Crabtree

durham_rtp

By durham_rtp
in The NC Triangle

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Subway Scoundrel Hamlet

Subway Scoundrel

Posted
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Personally I don't think that Meeker is as clueless and nonchalant as you make him sound. I read an article somewhere where he was pushing for the 4-star Westin hotel/Soleil center so that Raleigh could be more competitive when it comes to the hockey all-star game site selections. Seems to me that he is pro-Raleigh and not just pro-ITB.

I don't think he is clueless, far from it. I think he knows and understands the ITB crowd and he gets their support where maybe North Raleighites could care less, but when you see what certain groups are doing to get back in support like the anit-tax groups and other groups, he will need more than "people who care about DT" to stay in office. JMHO

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RALNATIVE Burg

RALNATIVE

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While on my jog on the Crabtree Creek trail, I noticed that they have two backhoes out there moving dirt and tearing out more concrete for this project. Not sure if this is worth anything other than to mention it. :dontknow:

Doesn't this usually occur after an official groundbreaking ceremony?

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architect77 Whistle-Stop

architect77

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Friday May 4th's USA TODAY has an ad for the Westin Raleigh Soleil Center along with the caption "Luxury Highrise Living" and a tall, thin, angled rendering of the Perkins+Will designed tower.

Looks impressive, but also suggests sales of the residential units falling short.

I hope they succeed as I want to see this tower built.

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RALNATIVE Burg

RALNATIVE

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There is an article in TBJ about this project-sounds to me like this thing is in a world of hurt.

TBJ Article

I don't think that we can assume the worse simply because they've selected a financial adviser. They are probably trying to locate a new and/or better source(s) to fund 80% of the project, which seems typical for a project of this magnitude. If the project was truly in jeopardy, you would see them making significant changes to the proposed design, such as reducing the size of the units.

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DanRNC Burg

DanRNC

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If the project was truly in jeopardy, you would see them making significant changes to the proposed design, such as reducing the size of the units.

I predict this will come next. Wasn't there already talk of significant design changes for the building?

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ChiefJoJo Town

ChiefJoJo

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According to the article... "The Soleil Group won city approval for the 42-story Soleil Center last year. But construction on the project has been delayed because of uneven bedrock underneath the building, which is to be built on a flood plain."

Not so fast TBJ. Soleil Center, or Glen Tree, was approved Nov 1, 2005--not last year. That's about 19 months ago. I wonder how long until their approval is invalidated? I would assume it has a sunset date.

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ChiefJoJo Town

ChiefJoJo

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WRAL just did a story on Soleil Center. I only saw the tail end... they interviewed one of the developers (Walia?): it's a $170M project now, they have sold 25% of the condos, the funding is/will be secured and the project is moving forward. Of course, what do you expect him to say?

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RALNATIVE Burg

RALNATIVE

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They also said that the two penthouse units have been presold for $4M. Flippers have gotten more aggressive! (haha)

I very seriously doubt that someone would buy those units in hopes of flipping them in the short term. There are plenty of people around here that i'm sure would be willing to spend the money to buy 1 of only 2 true penthouses in the Triangle as their primary residence.

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dmccall Burg

dmccall

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I very seriously doubt that someone would buy those units in hopes of flipping them in the short term. There are plenty of people around here that i'm sure would be willing to spend the money to buy 1 of only 2 true penthouses in the Triangle as their primary residence.

ok, "haha" usually signifies "that was a joke".

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ChiefJoJo Town

ChiefJoJo

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Remember when RBC wanted to change the city code to allow their large corporate sign? It looks like Soleil wants a piece of that action... from the council agenda:

EVENING AGENDA - 7:00 P.M.

A. REQUESTS AND PETITIONS OF CITIZENS

1. Mack Paul, Esq. of Kennedy Covington law firm, representing the Soleil Group, wishes to address the City Council to propose application of the Downtown Signage District regulations regarding crown signs to all areas within the City of Raleigh through a text change and to request that the City Council authorize a public hearing on said proposed text change.

On a side note, has anyone noticed the TV ads on News 14? They've been on about every morning the past 2 weeks or so... you know, female narrator with fake British accent waxing poetic on the "perfect location" of the Westin Residences.

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RaleighRob Burg

RaleighRob

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On a side note, has anyone noticed the TV ads on News 14? They've been on about every morning the past 2 weeks or so... you know, female narrator with fake British accent waxing poetic on the "perfect location" of the Westin Residences.

I see those just about every morning on fox 50's morning news. It's so pretentious-sounding, you almost think the whole thing's a satire. But no, they're serious! :rolleyes:

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NCpride Unincorporated Area

NCpride

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Remember when RBC wanted to change the city code to allow their large corporate sign? It looks like Soleil wants a piece of that action... from the council agenda:

EVENING AGENDA - 7:00 P.M.

A. REQUESTS AND PETITIONS OF CITIZENS

1. Mack Paul, Esq. of Kennedy Covington law firm, representing the Soleil Group, wishes to address the City Council to propose application of the Downtown Signage District regulations regarding crown signs to all areas within the City of Raleigh through a text change and to request that the City Council authorize a public hearing on said proposed text change.

On a side note, has anyone noticed the TV ads on News 14? They've been on about every morning the past 2 weeks or so... you know, female narrator with fake British accent waxing poetic on the "perfect location" of the Westin Residences.

Yeah, I see them on WRAL every morning too. I also had a Soleil insert in this week's issue of Sports Illustrated! They are pushing this thing hard.

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sax184 Hamlet

sax184

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Yeah, I see them on WRAL every morning too. I also had a Soleil insert in this week's issue of Sports Illustrated! They are pushing this thing hard.

I've seen the ads in Time and Newsweek as well. Mr. Walia was telling us how they have a very extensive waiting list for Soleil, and how the challenge was to convert those reservations into contracts. I suspect the advertising blitz is to fulfill one of two functions.

1. Convince those reserving and on the list that Soleil Center is indeed the "hot/hip" property of the moment in the Triangle so that they put down the money rather than bow out.

2. Either the list is quite soft or they suspect their list is actually quite soft, and they are trying to attract new people to fill out the list.

I guess if I were in their shoes, I'd probably do the same thing. I still will be interested to see whether or not they have overestimated the demand at this price point for this building.

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Subway Scoundrel Hamlet

Subway Scoundrel

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I've seen the ads in Time and Newsweek as well. Mr. Walia was telling us how they have a very extensive waiting list for Soleil, and how the challenge was to convert those reservations into contracts. I suspect the advertising blitz is to fulfill one of two functions.

1. Convince those reserving and on the list that Soleil Center is indeed the "hot/hip" property of the moment in the Triangle so that they put down the money rather than bow out.

2. Either the list is quite soft or they suspect their list is actually quite soft, and they are trying to attract new people to fill out the list.

I guess if I were in their shoes, I'd probably do the same thing. I still will be interested to see whether or not they have overestimated the demand at this price point for this building.

My guess per his last comments that he needs a small number to sign and this is a last push to get to that number and beyond before the start date gets here. I heard an ad this morning on 850Buzz and see it in the New Yorker (local buy).

Or maybe they are looking at this as thier last push or else !!??

I just hope they get this thing going and get in a 3rd 4star hotel which Raleigh needs badly.

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