New Markets Tax Credit Coalition

Raleigh Times Building

Investment

  • NMTC Amount: $1,320,000
  • Total Project Cost: $1,650,000

IMPACT

  • 5 FTE jobs
  • 8 construction jobs

CDEs

Investor

Project Description

One of Raleigh’s most important buildings in the first part of the 1900s, this building housed the Evening Times, which later became the Raleigh Times newspaper. The Times building possesses some of the most intricate masonry work that exists in Raleigh with Roman Revival architecture. The building’s classic turn-of-the-century style features two storefronts on either side with a middle staircase leading to upstairs office space. As the Evening Times grew, it expanded into the downstairs space in 1913.

In 1917, the building was expanded to the rear, doubling its size to accommodate the growing newspaper. Over the years, the Times building went through many changes. Empire Properties bought the building in 2002 and restored it to its former glory (based on 1910 photographs) with the help of the historic tax credit program. In 2006, The Raleigh Times Bar opened on the first floor and was celebrated by many former Raleigh Times employees on opening night.

MAP

Address: 14 East Hargett Street, Raleigh, NC 27503

Census Tract: 37183050100

Other North Carolina Projects

Construction of a manufacturing and distribution facility.
NMTC financing helped create a mixed-use project inside a former Albemarle hosiery mill.
An Unparalleled Hub for Urban Manufacturing and Innovation in Greensboro, NC
The adaptive re-use of a former RJ Reynolds tobacco facility that is being redeveloped by Wexford Science and Technology, LLC into an 110,815 sq ft mixed-use, LEED Silver certified historic