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Apparently one of the interests in the hotel/HQ tower combo for Fayetteville St. is this here 6 floor luxury hotel chain with half the number of rooms than requested in the RFI. And expensive. Super effing lame. Will be hugely disappointed if this is the way they go after seeing that rendering they released that had actual signature towers.
It shouldn’t come as a surprise. As said many times, if there is demand, people will build. The only purpose of developers constructing a building is to make a return/profit for various investors who underwrote the loan who are expecting it to generate XYZ returns.
Very beautiful rendering but if they don’t plan to activate all that green space, this is going to be a (beautiful) pedestrian black hole.
It shouldn’t come as a surprise. As said many times, if there is demand, people will build. The only purpose of developers constructing a building is to make a return/profit for various investors who underwrote the loan who are expecting it to generate XYZ returns.
Very beautiful rendering but if they don’t plan to activate all that green space, this is going to be a (beautiful) pedestrian black hole.
It's a but of a surprise, but not really. With what city council released as a conceptual rendering, I'm surprised that any developer even thought to throw on the table such a short development and then a chain to boot. What I wouldn't be surprised about is city council approving the first damn thing that gets proposed and having 0 patience. Really hoping they reject this, because you're right it would absolutely be a pedestrian black hole.
It's a but of a surprise, but not really. With what city council released as a conceptual rendering, I'm surprised that any developer even thought to throw on the table such a short development and then a chain to boot. What I wouldn't be surprised about is city council approving the first damn thing that gets proposed and having 0 patience. Really hoping they reject this, because you're right it would absolutely be a pedestrian black hole.
I would be VERY surprised if the city jumped on that proposal. It doesn't even fulfill the request for room numbers. I also don't trust sketchy renderings like that one.
City of Raleigh was very specific that they're not in a rush and doesn't need to move forward with any proposal. They will accept only the proposal that meets or exceeds their requirements and of 'great design'. Period.
This isn't like the bus station tower. There isn't a deadline.
Also the Grand Bohemian hotel in Charlotte is bland, made of EIFS (glorified stucco), small for the location. That's not great design.
City of Raleigh was very specific that they're not in a rush and doesn't need to move forward with any proposal. They will accept only the proposal that meets or exceeds their requirements and of 'great design'. Period.
This isn't like the bus station tower. There isn't a deadline.
Also the Grand Bohemian hotel in Charlotte is bland, made of EIFS (glorified stucco), small for the location. That's not great design.
I wouldn't get too worked up over this. The city made it very clear that they want at least 500 rooms to support the convention center, and they are looking for high profile towers. Six stories ain't gonna cut it, and this is only a conceptual idea pitched by one respondent. Based upon other actions, and comments the new city council has made, they won't be in a rush to compromise on the RFI.
Raleigh is already sitting on a $ 30 million pot of money specifically dedicated to this one project, and they are crystal clear on what they want.
I suspect that Kane will submit a proposal for this site.
Last edited by Mr. Raleigh; 02-22-2020 at 07:49 PM..
Looks like the much delayed 20-story 400H tower project in Raleigh will start construction sometime mid-year according to a reliable sources.
"More information coming out on the long delayed 400H mixed use tower at the corner of Hillsborough and West street in Glenwood South. The owner has changed hands with construction now expected to start sometime this spring."
"Plans call for a 20 story mixed use building that will include 12 residential floors, giving it the highest residential density in the city except for the North at West building just a few block away. Additional parking will be available in the Powerhouse parking deck across the street, where they will be adding 3 floors."
City of Raleigh was very specific that they're not in a rush and doesn't need to move forward with any proposal. They will accept only the proposal that meets or exceeds their requirements and of 'great design'. Period.
This isn't like the bus station tower. There isn't a deadline.
Also the Grand Bohemian hotel in Charlotte is bland, made of EIFS (glorified stucco), small for the location. That's not great design.
Have all the standards you want (though I actually think the case is just soft demand), if the economics don’t support it, then it’ll stay conceptual.
Also, very ironic you mention the grand bohemian in Charlotte being too small for the location given it’s in context of the one proposed in Raleigh.
Have all the standards you want (though I actually think the case is just soft demand), if the economics don’t support it, then it’ll stay conceptual.
Also, very ironic you mention the grand bohemian in Charlotte being too small for the location given it’s in context of the one proposed in Raleigh.
We've heard from one company who presented a rough sketch and an idea, neither of which conformed to the RFI. No doubt others will chime in; the response period lasts until the end of March. Raleigh has a number of high profile out-of-state developers that have recently entered this market. This is in Kane's backyard too.
If the city doesn't get the responses that it wants, it will either revise the specs or not proceed with the projects at this time. One concern is that there are other hotel projects in the pipeline and this may blunt someone committing to a block of 500 rooms for this site. Fallon, Hoffman, 121 Fayetteville Street and the company redeveloping the former N&O site all have planned hotel components in their projects (121 Fayetteville may be all office - not completely sure about hotel).
Let's wait to see what comes in from other developers.
The Grand Bohemian in Charlotte is 14 stories (if I am correct). Raleigh's RFI showed a tall 40ish story concept tower, which means it would have to be a mixed use building in order to get anything near that height. It's very early in the process.
We've heard from one company who presented a rough sketch and an idea, neither of which conformed to the RFI. No doubt others will chime in; the response period lasts until the end of March. Raleigh has a number of high profile out-of-state developers that have recently entered this market. This is in Kane's backyard too.
If the city doesn't get the responses that it wants, it will either revise the specs or not proceed with the projects at this time. One concern is that there are other hotel projects in the pipeline and this may blunt someone committing to a block of 500 rooms for this site. Fallon, Hoffman, 301 Fayetteville Street and the company redeveloping the former N&O site all have planned hotel components in their projects.
Let's wait to see what comes in from other developers.
The Grand Bohemian in Charlotte is 15 stories (if I am correct). Raleigh's RFI showed a tall 40ish story concept tower, which means it would have to be a mixed use building in order to get anything near that height. It's very early in the process.
It showed the full potential. Companies actually upzone and request new zoning to increase the value of the land or developer interest. It’s about showing the maximum revenue a parcel of land could build out. This could even get the developer better terms on a loan (it’s a less risky loan if you know that you could add more revenue and such).
It’s very well Raleigh might not get the request it is seeking, and it will determine that. A 40-floor tower just is 100% contingent on demand.
I really wish some of you would think of real world development impacts rather than fanboy stuff
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