Developers want more than 20 stories at N&O site in downtown Raleigh

The group planning to redevelop The News & Observer property in downtown Raleigh will ask the city for permission to build up to 40 stories.

The N&O in November announced a $20.2 million deal to sell its 3-acre site to a local development group known as Above The Fold. The group includes developers Mark Andrews, Michael Sandman and Joe Whitehouse as well as Russ Jones and Henry Ward of Loden Properties.

The first phase calls for the renovation of the building at the corner of Martin and Salisbury streets that until recently housed The N&O’s printing presses. The N&O signed a long-term lease to occupy about 50,000 square feet in the renovated building, which also will include street-level retail. The rest of the site is likely to include a hotel.

City codes currently allow for buildings up to 20 stories at the site. The group wants to rezone the site to allow for buildings up to 40 stories in height under certain conditions, according to a Central Citizens Advisory Council agenda. Above the Fold is scheduled to talk about its plans to redevelop the site during the CAC meeting at 7 p.m. July 11.

It’s possible the group wants to build fewer than 40 stories but more than 20. The city’s zoning structure doesn’t offer a specific option between 20 and 40 stories.

CACs advise city leaders on zoning matters, but their votes aren’t legally binding. The Raleigh City Council makes the final decision on rezoning requests.

This story was originally published June 28, 2016 at 6:44 PM with the headline "Developers want more than 20 stories at N&O site in downtown Raleigh."