Today the Raleigh City Council decided to amend an agreement with Empire properties concerning the development of Site 4. In a detailed presentation, Empire’s Greg Hatem gave a progress report on the site’s planning stages, and proposed a slightly different agreement, which was accepted by the city council. Empire’s problems with the previous agreement were not over the amount of subsidy for the street improvement project near Site 4, but rather, the timing of the payment. Empire prefers to pay it’s promised $50,000 goodwill gesture to improve Site 3′s curbline at the time of purchase for Site 4. The previous agreement demanded payment when work is begum. Empire also proposed to uphold the November deadline for site plan submission, apply for no future extension requests, and to remove the minimum requirement of 20 condominiums for the project.

Hatem then gave an update on the plan’s progress. Empire is currently working closely with Kimpton Hotels, the largest chain of lifestyle boutique hotels in the country. Each of the sites are unique, and designed for an urban experience. He also explained that Kimpton is excited about both the possibility of being adjacent to the new convention center and the Raleigh market in general.

The site plan has drastically changed since last public review. Empire is working with KlingStubbins Architects for a 14-story building containing zero condominium units, 200 hotel rooms, and a rooftop bar on the building’s northeast corner. The project’s footprint now only occupies the northern half of the Site 4 property, leaving an open site for future development for condominiums or office space. In the meantime, the plan is to create a small public square similar to that beside The Pit.

Empire anticipates a formal site plan submittal in September, two months before the deadline. Construction is anticipated to begin in May of 2009.

The proposal was accepted by a 6-2 vote. Councilors Crowder and Koopman dissented citing their desire to remove the language describing absolutely no extensions. They feel extenuating circumstances could arise in the meantime, and necessitate another extension.