227 Fayetteville Street Hosts Innovate Raleigh Meeting, Kicks off Leasing for New Office Space in Center of Downtown Raleigh

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Raleigh, N.C., Jan. 24, 2013 – Over 300 business and community leaders will gather in downtown Raleigh today, Thursday, Jan. 24 to discuss making Raleigh one of the top places for innovation and entrepreneurship in the country. The Innovate Raleigh meeting will take place at 227 Fayetteville Street, the former Wachovia bank building, which will be completely renovated and made ready for new tenants. The event will be followed by a celebratory kick-off for the renovation phase of the building at 227 Fayetteville Street.

“Innovate Raleigh is a partnership of the City of Raleigh, NC State University, the Raleigh Chamber of Commerce, and the Downtown Raleigh Alliance in addition to a number of private sector supporters and two new partners, Wake Tech and Wake County Public Schools,” said Mary-Ann Baldwin, co-chair of Innovate Raleigh and Raleigh City Council member. “The representatives of 227 share our vision for the future – creating great spaces and opportunities for business growth and entrepreneurship in Raleigh.”

The Innovate Raleigh meeting will kick off at 4 p.m. with presentations on entrepreneurial hot spots, Durham’s start-up scene, a new Triangle-wide online resource for entrepreneurs, NC State’s Springboard Innovation Center, Rex Health Ventures, arts and creativity, and Citrix, who plans to relocate to downtown Raleigh.

“The building at 227 Fayetteville Street is located in the geographic, cultural, political and professional center of downtown Raleigh and with a need for high-quality office space, the location will be a prime spot to do business in this region,” said Howard Lavitt, co –founder and principal of the LRC Opportunity Fund. “The location truly makes the opportunity for collaboration great and the modern amenities added to this timeless, iconic structure will serve the companies thriving in this area for years to come.”

LRC purchased the building in late 2012. The building will be completely renovated in 2013 using high-quality materials built for long-term benefits. Bringing in natural light, high ceilings with open floor plans, the space will be conducive to the modern urbanism developing in the downtown community. Renderings of the updates to the building will be on display Thursday.

About 227 Fayetteville Street

A classic office building seated at the geographic, cultural, political and professional center of Raleigh’s downtown, 227 Fayetteville Street is being recreated as a home for companies seeking access, value, style and a competitive advantage in recruiting the best and brightest employees. The building will be renovated in 2013 and ready for tenants to occupy in early 2014. Leasing is currently underway, for more information please contact Property Resources of Raleigh, http://propertyresourcesofraleigh.com/.

About Innovate Raleigh

Innovate Raleigh is a partnership between NC State University, the City of Raleigh, the Raleigh Chamber of Commerce, the Downtown Raleigh Alliance, Wake Tech and Wake County Public Schools in addition to private sector supporters. The group exists to catalyze innovation efforts in the region and hosts the annual Innovate Raleigh Summit, held this year in September. For more information, visit http://innovateraleigh.com/.