Background on the City Plaza property

A WakePol reader asked about the background of the property at the south end of Fayetteville Street that could soon be the cause of a lawsuit. Raleigh could file a condemnation suit against The Simpson Organization as early as next week as it tries to get the easements it needs to build the City Plaza. We asked City Attorney Thomas McCormick about the history of the City Plaza area. His response is below. Hope this helps.

"Yes, the city once owned the plaza area as well as the parcels where the BB&T building and the Bank of America Building now stand. The land was assembled as part of the property acquisition for the now demolished civic center building. The city sold the two parcels to York-Hannover Development, a New York Developer. The same developer also did the current Sheraton Hotel although it opened as a Radisson. The city entered into a joint agreement with York-Hannover to build the deck now lying beneath the plaza area. That deal contained a provision that allowed York-Hannover to buy out the city’s interest through a lump sum payment and the city’s retention of a surface easement for park purposes. The plaza area was once a part of the Fayetteville Street right of way."