More than 15 years ago, people planning a commuter rail system for the Triangle thought the site of a former warehouse in downtown Raleigh would be a good place for a station for state workers. .
This version of the commuter rail never happened, and now GoTriangle, the regional transit agency, is putting the property on the market, with a minimum asking price of $10.13 million.
The one-story building dates back to the 1930s and was used as a tire repair shop just before the Triangle Transit Authority purchased it in 2005. The property comprises nearly an acre on West Lane Street between the State Government Complex and the Glenwood South entertainment. neighborhood, and is just south of the office and apartment towers of the new Smoky Hollow complex.
“The neighborhood has converted to taller towers and condos,” said Charles Lattuca, president and CEO of GoTriangle. “So having a warehouse across the street, it needs to be revamped.”
GoTriangle is again planning a commuter rail system, but it would follow the NC Railroad corridor between Garner and Durham and not use the tracks next to the warehouse property. The agency stores bus shelters in part of the warehouse.
The federal and state governments helped buy the property when the TTA, the agency that preceded GoTriangle, thought it would be needed for a commuter rail station. They will each receive a share of the proceeds from any sale.
Nearly 60% would go to the Federal Transit Administration, while the North Carolina Department of Transportation would get 13.6%, said Gary Tober, GoTriangle’s director of real estate and facilities. GoTriangle’s share is 30.7%, or about $3 million if the agency gets the minimum asking price.
The commuter rail system that TTA planned ultimately failed to gain federal support or funding and was abandoned in 2006. During planning, Lattuca said, the agency acquired parcels of land along a six-mile stretch of the CSX rail line from downtown to the north. Raleigh.
Most of this property is unusable except for expanding the rail corridor. Lattuca said this could be helpful to the NCDOT as it plans high-speed passenger trains between Raleigh and Richmond in the coming years.
The largest property the TTA purchased downtown is now transformed into retail and residential towers in the Warehouse District. Union West, as the project is called, will also include a bus depot for GoTriangle and GoRaleigh buses next to the city’s railroad station, Raleigh Union Station.
The TTA also owns a third of an acre on North Harrington Street, opposite the warehouse. Tober said the NCDOT may want to use the land for the high-speed rail project. He said GoTriangle had started talking about a potential deal with the state that would give him 10.6 acres of landlocked NCDOT land near Interstate 540, which would allow him to expand his bus maintenance garage. .