Local News

Raleigh extends deadline for downtown tower project

Posted July 1, 2008

Map Marker  Find News Near Me

— The City Council voted Tuesday to give the developer of a proposed downtown tower four months to get his financing in place.

The city sold a half-acre lot at the corner of Lenoir and Salisbury streets, across from the new convention center, to Empire Properties last year. The developer plans to build the 22-story Lafayette tower, which would mix a hotel with offices and high-rise condominiums.

City Manager Russell Allen said Empire missed an April deadline for submitting plans to the city and couldn't confirm the project has the financing to move forward, so he recommended that the city void the contract and ask for new bids on the site.

But the council voted to give Empire an extension to see if the project could come together as planned.

16 Comments

This story is closed for comments.

Oldest First
View all
  • PikeMom4real Jul 2, 2008

    I am actually sick of hearing about it.

  • canes017 Jul 2, 2008

    "Not every issue involves your precious taxes."

    Actually, the city sold the lot to this developer, and how do you think the city got the funding to acquire the land in the first place? Taxes. So while not every issue involves OUR precious taxes, this one does.

  • Six String Jul 1, 2008

    "Tax payers don't need to fund this garbage!"

    The taxpayers aren't funding it. The city is simply extending the time for his option on the land in order for HIM to finance and fund it. Not every issue involves your precious taxes.

  • davidgnews Jul 1, 2008

    foetine - it's past time it happened. Allen's like most other 'headless nail' politicians - you can drive them in, but you can't drive them out !

  • foetine Jul 1, 2008

    Allen got slapped today

  • 007KnightRider Jul 1, 2008

    The city council should also request information from the bidders of the Soleil Center which has yet to break ground at Crabtree. They seem to have financing issues as well.

  • SheriffTruman Jul 1, 2008

    THe condemnation in question is not normal land. It is where Faytteville st used to run before the old Civic Center was built. The city sold it on the cheap to the original developer of One Hannover Square so they could build a larger parking deck. They could not go deeper due to bedrock in that area.

    Now, if the City wanted to take some other property away it would be a much different story.

    They still should try to negotiate more with the current owner though.

  • foetine Jul 1, 2008

    I just saw that Allen & Co are now going to "condemn" the plaza property next to the Boondoggle Center in order to turn it into "the centerpiece" of Fayetteville Street.

    At this point, I'd be very nervous about developing anything downtown with the knowledge that Allen will grab your land if he's gets moody.

  • davidgnews Jul 1, 2008

    Allen & co. have steamrolled the public since his first year in office. Maybe that was one of the job qualifications.

  • foetine Jul 1, 2008

    Greg Hatem just got married and Russell Allen can't let the man enjoy his honeymoon? Why is Russell Allen so eager to re-sell this property? Is somebody offering something? He owe? Why can't a guy get an extension in this "friendly" city? This is disgusting and Allen's actions deserve to be investigated. Was he taking his family to Disneyland and Whale Watching to see how those places resold their property?

More...