Cary-based Soleil Group, which is building the namesake 43-story tower called Soleil Center, submitted plans for a second phase to the project on Wednesday.

"This building could have everything else the other building has," said Sanjay Mundra, a principal in the Soleil Group, which has a 264-room Westin Hotel planned inside the bigger tower along with offices, condos and some retail.

"It's great to see that people are willing to take risks and invest in all areas of our town and not just downtown," said Raleigh council member Philip Isley, who reserved comment on the specific plans, which he has not yet seen.

Both projects are directly across the street from Crabtree Valley Mall, which has been attracting development interest in recent months.

Directly next to the tower, Crabtree Partners submitted a rezoning petition for a 10-story office building, which is one of several projects planned in the area.

"It's booming," said Isley.

Soleil Center's second phase includes up to 140,000 square feet of condos and office space, said Mundra.

The second building will carry the same look as the tower, which is being designed by the Chicago firm Perkins + Will.

Mundra said construction on the first phase, which is rising where the old Clarion Hotel stood, could begin in September. Implosion for the building is set for Sunday.

The first phase of the project is expected to take two and half years, said Mundra, while the second phase will take a year and a half.

That will give Soleil Group a year from the time the first phase begins to pre-lease office space and condos and still have the two projects open at the same time.

"The difference here is we will not start building here unless we have substantially pre-leased the building," he said. "Once the steel starts going up, I think people will start taking it seriously."

Mundra said about 90,000 square feet will be office space and that Soleil Group, which will move its operation, could take up to 15,000 square feet of that space.

The Capital Bank, which now has its headquarters in the site's 40,000-square-foot office building, is planning to move its operation downtown.

Mundra said Capital Bank has expressed interest in keeping a 4,000- to 5,000- square-foot branch at the location.

Soleil Group does not own the 3.1 acres but has the property under contract and plans to close next week, Mundra said.

"We all are very anxious," said Mundra. "It will certainly change the complexion of Raleigh."

Mundra said the finished project, with its landmark tower, should define the location as Raleigh's "midtown."

"You have to have some defining architecture to point the way," he said. "We'll have that."