Tall & Urban News

FNB Tower, a new 22-story building at 501 Fayetteville Street in downtown Raleigh, opened its doors on 4 December 2019.

Construction lasted for almost two years. The project was developed by Raleigh real estate developer Dominion Realty Developers.

“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,” he added.

First National Bank will have ground-floor banking offices. Additional office space will serve as the regional headquarters of its parent company, F.N.B. Corporation.

Two floors of 64,942 square feet (6,000 square meters) of Class-A office space and 5,554 square feet (500 square meters) of ground-floor retail space are open to tenants and 239 luxury apartments titled “The Faye at 511” will be preleasing soon. Four levels are dedicated to parking. The top-level features a deck with two outdoor patios and a pool.

Rents range from US$1,145 for a 500-square-foot (46-square-meter) studio to almost US$3,900 for a 1,317-square-foot (122-square-meter), two-bedroom unit.

Dominion Realty and McGuire Woods Law Firm have signed leases for office space.

Raleigh Mayor Mary-Ann Baldwin said she was pleased to see the changes in downtown Raleigh since her time on the 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,” she added.

The mixed-use building is also the first in Raleigh to receive both Leadership in Energy and Environmental Design (LEED) and Green Globe certifications.

For more on this story, go to The News & Observer.