UPDATE: City Council Votes Unanimously to Give Greg Hatem Extension on Lafayette
The Lafayette is a proposed 22-story tower with plans for 80 condos, 15,000 sq ft of retail space, a 125 room hotel, and a rooftop pool and bar. Raleigh was set to sell the parcel of land to Empire Properties for the current tax value of $1.44 million, but a tough economy may cause this ambitious project to fold.
City Manager Russell Allen is expected to appear before City Council today, Tuesday, July 1st, to recommend the city void the deal made with Empire Properties in 2007 to construct The Lafayette, a mixed-used tower proposed for the half acre lot on the corner of Lenoir and Salisbury near the new Convention Center. According to news sources, Allen suggests the parcel re-open for bid after Empire Properties missed an April deadline to submit revised building plans, although Empire Properties has requested an extension.
The Lafayette is not the greatest architecture the city has ever seen, but its faults pale in comparison to the haunted mansion, er, The Bloomsbury and the RBC with its ridiculous spire.
Image Credit: Empire Properties, Stephen B. Jacobs Group
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