The Department of State Treasurer, which is currently scattered across five Wake County sites, will consolidate its operations in a single building on Atlantic Avenue in Raleigh early next year.
The state budget approved this summer allocates $42.3 million in bond money to gut and renovate the 12-story Albemarle building on Salisbury Street in downtown Raleigh, where much of the Treasurer’s office is located. That necessitated vacating the building, department spokesman Schorr Johnson wrote in an email.
Treasurer Janet Cowell has long wanted to have her office unified at one site to “improve workflows, communications and efficiencies,” Johnson said. The move is slated for early 2015.
Last month the Council of State approved a 10-year lease at 3200 Atlantic Avenue that will permit all the divisions reporting to Cowell to be housed under a single roof. The lease for the entire 97,667 square-foot building will cost the state an average of $1.57 million a year. The state also has options for two five-year lease renewals.
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The Treasurer’s office also will have access to space in an adjacent office building to accommodate any overflow, Johnson said.
Of the five locations where the Treasurer’s office is currently operating, three of them are in privately owned buildings that are leased. The treasurer’s office has 475 workers, including temporary employees and contractors.