Excellent! One way to get an ugly building from being built. Our city has too many developers that have no idea how to build downtown structures with character (and get the job done on schedule).

Can’t say I am happy about it, but I always thought that something taller was probably a better proposition. The problem with canceling this project lies on the fact that many businesses invested on relocating to that area based on the assumption that more residents will come. They will definitely be hurt by this cancellation, but I surely hope someone with a great vision takes over. This parcel should be worth more than when initially purchased, therefore it makes sense that the next vision will be larger.

I am too scared to look at the list of stalled and canceled projects these days

This is not the end of the world for the businesses in the Seaboard area since an apartment project is planned for the parking lot ocean next to the Ace Hardware.

I think that the demand for “luxury” condos downtown has been met for the time being, and a more diverse mix of housing is the next wave of demand that should be addressed by new projects.

Not at all hurt by this.

I think the traffic on Peace and Capital intersection area needs a makeover first for quality developments to pop up in this area.

Another bland building concept dies its rightful early death.

Good riddance.

Leo, I couldn’t agree more about that intersection – what a nightmare! Even worse, there are no sidewalks. I once walked from downtown (near the capital bldg) to Jersey Mike’s and found myself in medians and grass more than once.

Yes, it’s a very Raleigh cookie-cutter design and I would love for it to be more innovative but it’s not awful. If they keep the same design and make it LEED certified, I would feel great about it. As far as height, it’s proportional to the things around it including Cotton Mill, Blount Street Commons, and the new AIA HQ that will be across the street. And since I’m being so contrary here, it will be interesting to see pricing for future downtown residential developments. More ecomoical pricing would be nice but if these builders are leaving money on the table, I don’t see it happening. Why build a place and sell it for $150K and watch the new owner turn around and sell it for $225K?

[...] 111 Seaboard was planned as another low-rise condo project in downtown Raleigh. However with the real estate market taking its turn, owners have decided to renovate the existing structure for now. [...]