Archived

This topic is now archived and is closed to further replies.

capitalapts

City Market

23 posts in this topic

Do any of you hipsters in the know have the scoop (if there is one) as far as potential new tenants of the old City Market? That is such a great asset and it's just been sitting there empty for over a year. I think that a good tenant would really give that little area a shot in the arm-there's already some good things going for it.

Share this post


Link to post
Share on other sites


Probably suffers from the same problem the old Darryl's on Hillsborough Street has....it's an old building and no good potential restraunteers want to put the hard work into cleaning it up, modernizing it, etc, to start a business there. :(

Sucks.

Share this post


Link to post
Share on other sites

Plus, it's HUGE and likely very expensive. It would probably be more likely to be leased if it were broken up into smaller spaces. It would be a cool spot for a House of Blues or something, though.

Share this post


Link to post
Share on other sites

Someone posted a story a while back that said Capital Broadcasting (I think) was looking into opening a news studio there and dividing up the remaining space for retail/restaurant. No idea if this is still a possibility or not.

Share this post


Link to post
Share on other sites

Yes I agree that it's too large of a space and needs too much work, which is why it hasn't had a tenant yet. If the owners put some work in and divided it up (maybe 5-6 different spaces) it'll probably be an easier sell. It would also fit in and increase variety to city market which is made of up smaller spaces anyway.

Share this post


Link to post
Share on other sites

The owner is convinced he will get one tenant for the whole space. Yet over the last *two* years (the fire was in August 2004) the space continues to sit empty. The big holes from where the brewery's vats used to be will need a lot of work, and the interior layout is awkward due to different tenants over the years. Space in the El Rodeo/Zydego building that Greenshields used for storage has been empty for a while as well.

There have also been rumors that the parking lot along Person would be redeveloped into live/work units, apartments above shops, etc. but nothing has come of that either.

The city doesn't own or manage City Market, but knows it is an asset to the downtown area and wants the best possible use for the space.

Share this post


Link to post
Share on other sites
The owner is convinced he will get one tenant for the whole space. Yet over the last *two* years (the fire was in August 2004) the space continues to sit empty. The big holes from where the brewery's vats used to be will need a lot of work, and the interior layout is awkward due to different tenants over the years. Space in the El Rodeo/Zydego building that Greenshields used for storage has been empty for a while as well.

There have also been rumors that the parking lot along Person would be redeveloped into live/work units, apartments above shops, etc. but nothing has come of that either.

The city doesn't own or manage City Market, but knows it is an asset to the downtown area and wants the best possible use for the space.

Share this post


Link to post
Share on other sites
Partitioning it into a few places is probably a good idea. It is pretty freaking big. How about putting a freaking bakery in there? Where is A bakery in Raleigh? Please, don't drop chain store names, they don't count when it comes to bakeries! I'm talking about a guglhupfs-type place, somewhere i can get a freaking croissant that's actually made there.

Share this post


Link to post
Share on other sites


Looks like the owner of City Market is going forward with some renovation work on one of the buildings at City Market. He is in talks to have a an Argentine steakhouse open and an events space for weddings, meetings,etc. He is also refurbishing the facades of the buildings around the one he is renovating to have lamps from their era and matching awnings and will apparently get a grant for up to 1/3 of their costs from the city:

http://www.newsobserver.com/news/story/1231479.html

Share this post


Link to post
Share on other sites

^The renovation/restoration sounds like it could be nice. I always thought it was too bad City Market was more of an island than a district. Running period street lamps and such all the way up Person and Blount Streets maybe even to Mordecai House along a Trolley tour might be cool. The Trolley tour would get more people if it started (boarded) at City Market instead of Mordecai House I think too. Anyway, just trying to visualize the best way to use City Market..tap its potential.

Share this post


Link to post
Share on other sites

Walking by on Monday, I noticed Woody's had their bean bag toss game/tournament going under the awning across the street from them, which is the most use that space has seen in a while.

The space has been empty for four years now... it is sad that it was held hostage for $150k in city money to help spruce the whole City Market complex up. The main push from then Mayor Fetzer was that City Market would be better run by a private owner vs. city ownership, so it was sold. I don't see how the city could have managed it any worse than the current owner has.

It used to be a crown jewel in downtown, but now it well down the list, behind Glenwood South, F Street, Wilmington/Hargett, and the Convention Center/Performing Arts district. If it wasn't for First Friday and Downtown Raleigh Live, City Market would be an afterthought by now.

The only time it truely feels like a market is during Artsplosure. The mini-booths proposed for City Square could work there, but the owner in California isn't interested in doing anything interesting, only things that will make him rent money.

Share this post


Link to post
Share on other sites

Absentee landlordism at its best...or worst.... I imagine David Diaz, or one of the Urban Design Center guys called the owner and said look, you need to x,y,and z, with perhaps an "or else" in there too. It would not surprise me if this guy has never actually been here to see his property. I am sure Empire Properties would love, and I mean freakin' love to have this whole block......ya never know....they own plenty in the area and are affected by its performance....maybe they'll drop an offer one day once the Cali guy gets tired of managing cross-continent.

Share this post


Link to post
Share on other sites


^I heard the same thing. Supposedly the UDC tried to get a farmers market or a grocery store to occupy the building since that was its original purpose. They couldn't get that to happen. Maybe someday though....

I was personally impressed with the City Market district. I had no idea it was there on my previous trips to Raleigh. There is a ton of potential there. I can't wait to see it after the renovations.

Share this post


Link to post
Share on other sites

Hakan must need the losses generated by City Market to balance something else in his real estate portfolio--how else to explain this level of ineptitude?

Share this post


Link to post
Share on other sites

I still feel that there is an East/West downtown thing going on. It's improving, though.

Share this post


Link to post
Share on other sites
I still feel that there is an East/West downtown thing going on. It's improving, though.

Share this post


Link to post
Share on other sites

I'm talking about how much taxpayer money has gone into projects on the east side that still never fly on their own while the west side of downtown is going gangbusters without subsidy. Only one word explains it.

Share this post


Link to post
Share on other sites

^ What taxpayer money is going into the east side--say east of Wilmington St (the old Raleigh segregation dividing line)? I'm not going to get into a "subsidy" argument as I've been there before, but in all of downtown, the projects that I can think of built with significant public money are all on the west side: RCC, Marriott, Justice Center, Lightner Center. I am not aware of any taxpayer subsidy for City Market. FWIW Two Progress Plaza, Palladium Plaza, "Hatem's corner," and Edison are all east of that line and all have or will be built exclusively with private capital.

Share this post


Link to post
Share on other sites

City Market was sold off by then Mayor Fetzer for a bargain basment price, and it has been treated poorly by absentee landlords ever since.

The "west side" Playspace was subsidized by taxpayers before it merged with Exploris to become Marbles.

The "far west" side has seen its fair share of subsidies as well -- the Hillsborough Street streetscape east of the Edenton merge that did little for the area, the Glenwood South power line burial/streetscape/repaving, the upcoming Hillsborough Street roundabouts, etc.

To say nothing of the multi-modal transit center when/if that happens, which raised the price of dirt on the west side years ago, when the TTA acquired some of the Dillon warehouses with rental car and vehicle registration tax dollars.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.