Archive for July, 2008

Building Booms in Downtown Raleigh

Friday, July 25th, 2008

Since the re-opening of Fayetteville Street a year ago, Raleigh city leaders claimed the downtown district has grown significantly.

In that year, more than $1.3 billion in public and private investment has been spent or been promised to fund downtown development, said city officials.

“You’re starting to see all the pieces coming in,” said Mitchell Silver, Raleigh Planning Director.

Twenty-three private developers have planned, started building or completed projects in downtown that are collectively worth more than $870 million.

Projects include Site 1, a mixed-use development in southern downtown; 222 Glenwood, a condominium project; and the RBC Plaza, which will be the tallest building in downtown Raleigh.

The RBC Plaza is already becoming a success, said Andy Andrews, the plaza’s condo developer.

“After seven weeks of going to contracts, we only have 11 units left in the whole building. So, out of 139, we’re pretty excited to be where we are with out sales,” said Andrews.

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