(rshsdepot) Raleigh NCRR (Sou) frt depot

["Mark A. Thomas" <markt_@_duke.edu>]

See article in Raleigh News and Observer regarding the freight=20
depot owned by the state-owned North Carolina RR (leased to NS=20
and since the late 19th cen by Southern and predecessors).

http://newsobserver.com/business/rtp_nc/v-print/story/1299071p-1334331c.htm=
l

Free access goes away after today, so below is text. I have no=20
idea what "historic railroad property" they own in Durham. --Mark

"Renovation on track "

[caption for photo]
At one end of downtown Raleigh's trendy warehouse district sits=20
the N.C. Railroad Co. depot. Once the building is renovated and=20
ready for shops and such, its ample parking could make it a hot=20
commodity.=20

Staff Photo By Jim Bounds=20
 =20

By STEVE CANNON, Staff Writer=20

RALEIGH - Downtown Raleigh's blossoming warehouse district could=20
be getting a big anchor on its southern end, as the owner of an=20
82-year-old freight depot pushes ahead with plans to convert the=20
building into space for trendy restaurants, shops and offices.

The N.C. Railroad Co. has chosen a developer to lead the=20
renovation of the 16,000-square-foot depot -- on Davie Street=20
between Dawson and Harrington streets -- and wants to start=20
construction this summer, pending city approval.

The project would stretch a corridor of redevelopment in the=20
city's center from Glenwood Avenue and Peace Street to Davie=20
Street and feed off a flurry of proposed downtown projects led=20
by Progress Energy's recently announced $100 million plan for=20
offices, condominiums and stores on Wilmington Street.

The NCRR announced plans to redevelop the depot in November=20
2000, but Scott Saylor, NCRR's president, said the project was=20
delayed while the state-owned company determined how much it=20
would spend on the renovation.

Developers have tried to buy the depot and its cobblestone=20
parking lot in recent years as Raleigh's warehouse district,=20
located west of the Capitol and Fayetteville Street Mall, came=20
to life with new restaurants and clubs. But the NCRR wouldn't=20
sell.

"It's absolutely an awesome location," said Ann-Cabell Baum=20
Anderson, a real-estate agent with White Oak Properties, who=20
sells and leases residential and retail space in downtown. "I'm=20
always working with little boutiques and trendy stores that are=20
looking for space in that area."

The NCRR has hired Gregg Sandreuter, whose company, Hamilton=20
Merritt, was the lead developer of Powerhouse Square in 1999.=20
That project -- backed by Carolina Power and Light, the utility=20
owned by Progress Energy -- used government tax credits to fund=20
turning former industrial buildings into restaurants, such as=20
The Southend Brewery and RiRa, offices and a parking deck.

Saylor said his company wants some of the funding for the=20
project to come from historical-preservation tax credits, which=20
give companies a tax deduction based on money spent to renovate=20
and reuse historical buildings. He said it is too early in the=20
planning process to say how much the project will cost.

Cherry Huffman Architects and engineering firm McNeely=20
Associates are working with city planners to iron out how much=20
parking can go on the site. The city has also sought to connect=20
Harrington Street between Cabarrus and Davie streets through the=20
NCRR's land.

Saylor said a site plan could be submitted to the city in about=20
six weeks. If the project is approved, Saylor said he hopes his=20
company can pick a construction company and get to work on the=20
building by late summer. The NCRR is still deciding whether to=20
start renovation on the dilapidated building before it has=20
signed tenants.

The depot sits on two acres, and its parking lot has room for 82=20
cars, a precious commodity on downtown's cramped streets. Saylor=20
said his company is considering adding another building later.

With more parking, the freight station, which is across Davie=20
Street from the Humble Pie restaurant, wine bar Cork and 20,000=20
square feet of offices renovated by Empire Properties, could=20
serve as a key point for downtown visitors to park and walk to=20
nearby businesses.

"We see our building as the linchpin for that area of the=20
warehouse district," Saylor said. "It's really the only site=20
with adequate parking and the only site adjacent to other=20
transportation."

The NCRR, a 153-year-old company that owns 317 miles of track=20
between Morehead City and Charlotte, has some experience=20
redeveloping stations. Projects have been started to renovate=20
its stations in New Bern, High Point, Burlington and Salisbury=20
for continued use as railway stations, as well as offices.=20

The NCRR also owns historic railway properties in Kinston,=20
Goldsboro, Durham, Kannapolis and Charlotte.=20

=A9 Copyright 2002, The News & Observer.


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The Railroad Station Historical Society maintains a database of existing
railroad structures at: http://www.rrshs.org

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