{"id":1004095728,"date":"2014-04-30T14:34:29","date_gmt":"2014-04-30T22:34:29","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=258487"},"modified":"2021-05-14T16:10:56","modified_gmt":"2021-05-15T00:10:56","slug":"city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\/","title":{"rendered":"City Approves Incentives for Mixed-Use High-Rise, Motel Conversion in Downtown Durham"},"content":{"rendered":"

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\"\"<\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n

Austin Lawrence Partners of Aspen, Colo. is planning the construction of a 26-story mixed-use tower in the heart of downtown Durham, as well as the renovation of the Jack Tar motel and parking garage on the next block. <\/span><\/p>\n

The Durham News<\/a><\/span><\/em> reports that the City Council has approved a $3.97-million incentive package for the two projects, which entail a total investment of more than $89 million. Under the agreement, the payments would be made over 15 years, once construction is complete. <\/span><\/p>\n

The new tower will rise on the site of the 117 W. Parrish St. building which burned in 2001. Plans call for a two-level underground parking garage, street-level retail, four floors of office space and 133 apartments.<\/span><\/p>\n

Construction on the project is expected to begin in October and be complete by the fall of 2016. <\/span><\/p>\n

Meanwhile, the rehabilitation of the long-closed Jack Tar motel property would bring a 74-room hotel and a parking deck which would be available to the tower\u2019s occupants and the general public.<\/span><\/p>\n

In other news, a seven-story student apartment building could soon rise on Hillsborough Street in Raleigh. <\/span><\/p>\n

According to the NewsObserver<\/em><\/a>, the city\u2019s planning commission has recently approved developer Cary Joshi\u2019s plan to convert the Two Guys Pizza restaurant into a mixed-use building with 24 housing units for up to 96 students, and ground-floor retail space.<\/span><\/p>\n

Opponents of the project, which is scheduled to go before the Raleigh City Council on May 6, argue that the building is too tall and that neighbors would support a five-story structure, as city guidelines recommend for the area. <\/span><\/p>\n

On the other hand, as architect Steve Schuster pointed out, the corresponding building height for the five-story limit is 75 feet. And 75 feet is in fact the height of the seven-story building proposed by Joshi.<\/span><\/p>\n

Photo credits: Google Maps<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Austin Lawrence Partners of Aspen, Colo. is planning the construction of a 26-story mixed-use tower in the heart of downtown Durham, as well as the renovation of the Jack Tar motel and parking garage on the next block.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[1815],"class_list":["post-1004095728","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham","tag-national"],"acf":[],"yoast_head":"\nCity Approves Incentives for Mixed-Use High-Rise, Motel Conversion in Downtown Durham - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"City Approves Incentives for Mixed-Use High-Rise, Motel Conversion in Downtown Durham\" \/>\n<meta property=\"og:description\" content=\"Austin Lawrence Partners of Aspen, Colo. is planning the construction of a 26-story mixed-use tower in the heart of downtown Durham, as well as the renovation of the Jack Tar motel and parking garage on the next block.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-04-30T22:34:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T00:10:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/W.-Parrish-St.-in-Durham.png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"City Approves Incentives for Mixed-Use High-Rise, Motel Conversion in Downtown Durham\",\"datePublished\":\"2014-04-30T22:34:29+00:00\",\"dateModified\":\"2021-05-15T00:10:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\\\/\"},\"wordCount\":2765,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/04\\\/W.-Parrish-St.-in-Durham.png\",\"keywords\":[\"National\"],\"articleSection\":[\"News\",\"Raleigh-Durham\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/city-approves-incentives-for-mixed-use-high-rise-motel-conversion-in-downtown-durham\\\/\",\"name\":\"City Approves Incentives for Mixed-Use High-Rise, Motel Conversion in Downtown Durham - 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