Condemnation off for downtown plaza site

Raleigh, N.C. — City officials on Tuesday reached a tentative agreement with the owners of a downtown site being eyed for a proposed plaza.

The City Council voted last month to begin condemnation proceedings on the property, but that process would halt if the City Council gives final approval to the agreement with The Simpson Organization.

The Simpson Organization, a group of Atlanta investors that owns the Bank of America building and adjacent land at the south end of Fayetteville Street, had been unable to reach an agreement with the city on an easement that would allow the property to be transformed into City Plaza.

Officials envision the City Plaza project, which would include glass retail pavilions, light towers and water fountains, as Raleigh's "public living room," offering a gathering place for local residents and a space for public concerts and other events.

City officials determined condemning the land and seizing it through eminent domain would allow them to begin construction by August and avoid further delays, which could mean higher construction costs.

The plaza was supposed to open in September, along with the neighboring convention center and Marriott hotel, but the lengthy easement negotiations pushed the opening date back a year to September 2009.

The delays also added more than $2.5 million to the total project – originally estimated around $21 million.

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The City already had an easement for a plaza. They were merely trying to change the design, which required revising the easement. No property would have been taken - the parking deck under the plaza would have still belonged to the current owner. The new plaza will be great for downtown Raleigh and will help grow the tax base.

bppack
July 16, 2008 4:40 p.m.

whats with the glass mural of rocky balboa in the picture? shouldnt it be clay aiken?

Bob Sidel
July 16, 2008 9:58 a.m.

"The delays also added more than $2.5 million to the total project – originally estimated around $21 million."

Why should Russell Allen or any of the others care? It will probably be $40 million before it's finished, and if it isn't, they'll find a way to do it.

The city's strong arm / extortion tactics are reprehensible at best.

davidgnews
July 15, 2008 5:45 p.m.

delays will cost over 2.5 million dollars? that is $2,500,000.00

oh my stars!!!! if we wait and save more money it should cost less.