One Glenwood developers Heritage Properties have launched construction of Tower Two, another 10-story tower of Class A office space that will accompany the existing One Glenwood tower to form the Bloc district project.
It will complete one of the major developments in the growing Glenwood South area of downtown, open more office space to the Triangle market, and aim to be a retail haven.
The $108 million mixed-use development will total 271,500 square feet and is under construction on the southeastern corner of Hillsborough Street and South Boylan Avenue. The developer estimates the project will be complete in February 2021.
Ryan Blair, vice president of Heritage Properties, said he expects that Bloc will stand out competitively with its amenities: an urban courtyard between the buildings, 30,000 square feet of retail, the 126-room Origin hotel, and direct access to a 665-space on-site parking garage being built across from Tower Two on South Boylan Avenue.
“We’re excited to operate the development and the atmosphere. It will have one of the largest urban courtyards in downtown Raleigh,” Blair said. “It will be a destination for everybody to come to eat, enjoy sporting events and hang out.”
The courtyard is expected to have activity space, a stage for live bands, space for yoga, and a large projection screen to show sports games.
A section of South Boylan Avenue will be closed this month for the duration of the construction, and may not be opened until the end of next year.
The entire ground level of Tower Two and its adjacent parking garage will have retail space.
A historic house built in 1875 on the corner of Hillsborough Street where the Bloc parking garage will be built was contributed to the project in exchange for an ownership interest. The house was owned by Hobby Properties, a Raleigh-based property manager.
Instead of being demolished, the house was taken down “brick by brick” and historical materials were salvaged, according to John Holmes, president of Hobby Properties. This included its brick and wood interiors, doors, and leaded windows to be used in a later development.
According to JLL, a real estate services firm, 2.6 million square feet of office space are under development in the Raleigh and Durham markets, up from 1.7 million square feet in the previous quarter.