First National Bank Tower officially joins Fayetteville Street and Raleigh’s skyline
Workers were still rushing around in hard hats hours before the grand opening Wednesday night of the 22-story First National Bank Tower on Fayetteville Street in downtown Raleigh.
After almost two years of construction work, Raleigh real estate developer Dominion Realty Developers premiered the new mixed-use F.N.B. Tower, anchored by the Pittsburgh-based namesake tenant First National Bank. F.N.B. bought Raleigh’s Yadkin bank in 2017 for $1.4 billion.
“We would not be here today if it were not for the hard work and perseverance of the entire 501 team of over 2,000 people making this project a reality,” Dominion Realty Chairman and CEO Andy Andrews said in a press release. “It was a pleasure to work with them on this very complex and complicated project, and we are excited to once again change the downtown Raleigh skyline with this environmentally friendly, state-of-the-art tower.”
First National Bank will have ground-floor banking offices at 501 Fayetteville St. Additional office space will serve as the regional headquarters of its parent company, F.N.B. Corp.
Two floors of 64,942 square feet of Class A office space and 5,554 square feet of ground floor retail space are open to tenants and 239 luxury apartments titled The Faye at 511 will be preleasing soon.
According to the building’s listing on Apartments.com, rents range from $1,145 for a 500-square-foot studio to almost $3,900 for a 1,317-square-foot, two bedroom unit.
Dominion Realty and McGuire Woods Law Firm have already signed leases for office space.
Newly elected Raleigh Mayor Mary-Ann Baldwin said she was pleased to see the changes in downtown Raleigh since her time in city council began 12 years ago.
“Fayetteville Street is reborn,” Baldwin said at the grand opening event. “This is really a great example of the way a community can build its main street. Now we’ve got to get a convention center and hotel and we’ll really be rocking.”
The mixed-use building is the first in Raleigh to receive both Leadership in Energy and Environmental Design (LEED) and Green Globe certifications for qualities like energy conservation and lowered water consumption.
This story was originally published December 5, 2019 at 6:25 AM with the headline "First National Bank Tower officially joins Fayetteville Street and Raleigh’s skyline."
