Developer Greg Hatem is asking Wake County leaders to give him at least three more years to begin construction on a prominent downtown project.
In a letter dated Oct. 1, Hatem told Wake County officials that his company, Empire Properties, would not meet a county-imposed deadline that required construction of The L Building to begin by Nov. 16.
The L Building, a mix of offices and shops, was supposed to wrap around the county parking deck at the corner of McDowell and Davie streets. The project has been stalled because of the credit crunch, which has resulted in the parking deck sitting naked with its rough concrete exterior exposed.
The Wake County Commissioners gave Hatem an 18-month extension in May 2009.
Hatem is requesting that his company's agreement with the county be extended until November 2013.
He also wants to add a clause in the agreement that would allow for another three-year extension in November 2013 if the state's unemployment rate and the Triangle office vacancy rate are above where they were in March 2007.
That's the date Empire and the county entered into their public-private agreement.
Hatem did not immediately return a call seeking comment.