Péché de Chocolat Moving to Glenwood
This “First Friday” will be the last wine and chocolate tasting for Péche de Chocolat in City Market. On March 1st they are moving 14 Glenwood ave, the Carter building ( map it ).
At tonight’s tasting in City Market, there will be some brand new Péché chocolates that have arrived just in time for Valentine’s Day. Pouring will begin at 7:30pm.
Raleigh Ranks #1 for Small Business
Conde Nast Portfolio.com has compiled their
favorite areas for the creation and development of small businesses
, and Raleigh tops the list.
Raleigh ranked relatively low on the sheer number of small businesses, but ranked high in 1-year change in small businesses (starts), small businesses per 1K residents, and 5-year changes in population and employment.
In the list of 100 top cities, only one other North Carolina city made this list: Charlotte at #2.
Auto Show Underway
The 2009 Auto Show began yesterday at the Raleigh Convention Center. Absent from the show are GM and Ford products, according to WRAL. Hwoever Mercedes-Benz, BMW, Jaguar, Audi, Porsche, Acura, Maserati and more are on the floor.
Tickets are $5 (12 and under free) and the show runs from 10am to 9pm today and Saturday. It will run from 10am to 6pm Sunday.
Cameras are welcome.
Crabtree Getting Lego Store
Sue Stock reported today that Crabtree will be getting a large Lego Store in May. This will be the chain’s 24th store.
City Votes To Buy Back Reynolds Site
As anticipated the Raleigh City Council voted 5-3 in favor of exercising a buy-back option which will end the current plans of Ted and David Reynolds at 301 Hillsborough Street. The site for the project formerly known as “The Hillsborough” is currently a hole in the ground, and will likely be filled and paved for parking to create revenues while the real estate markets get revived.
Dissenting councilors Isley, West, and Koopman echoed concerns about what happens to the land in the meantime and what the long term plan is for the land. Philip Isley stated that these developers who have done due diligence and come so close to developing a much-anticipated project, deserve the right to a return on their investment.
Isley is also concerned about the precedent set by this measure, as Empire Properties finds itself in a similar position with its planned Lafayette hotel. Isley wants to extend the same courtesy to Empire when time comes to discus about their own extension in the face of a down market.
Reynolds Tower Likely Dead
In today’s 1:00pm meeting, the Raleigh City Council will review Ted and David Reynolds’ offer to purchase and contract for 301 Hillsborough Street ( agenda: pdf ). The team had planned a mixed-use tower, “ The Hillsborough ” standing around 25 stories, however depreciating real estate has caused a financing shortfall. (The News & Observer’s article today explains this well.)
The council will be deciding whether they should offer the Reynolds an extension, or retract the offer and wait until the real estate markets grow again. It appears that no parties involved are interested in proceeding. Mayor Meeker said, “I’m inclined that we should take the property back and then review the situation when the economy improves.” (way to say it with gusto). David Reynolds said,”…only a fool would get something started right now. There’s just so much uncertainty.”
Likely what will happen is the project will be retracted, the lot will sit fenced in, and the site will the subject of a new Request For Proposals in a couple of years. In the meantime, the possibility that the City of Raleigh will reconsider the site’s future is very real. The city currently has planned to replace its police headquarters with a highrise local governement complex. The long term goal is to replace the current city hall and police headquarters, but the future value of the land on which the current facilities sit is not to be ignored. Land adjacent to one of Raleigh’s two downtown parks would be exceedingly more valuable than land on Hillsborough Street across from…the round Clarion. Keep an eye on this one!
News of The Hillsborough’s demise both gets filed in City Manager Russell Allen’s “See I Told You So” file, and casts much uncertainty on another of the city’s properties, the planned Lafayette hotel, adjacent to the Convention Center Marriott. This story, too, is one worth watching.
Fearrington House Promotes Sous Chef
Triangle Business Journal is reporting that the five diamond Fearrington House Restaurant has promoted Colin Bedford to Executive Chef. He will replace Graham Fox whose departure is not being discussed publicly.
Fearrington House is located just north of Pittsboro.
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