The Edison

The Edison is the latest project proposed in downtown by local developer Gregg Sandreuter, and will be located on the block bounded by Wilmington, Martin, Blount, and Davie Streets. The proposed 1,570,900 square foot project includes two 38-story (574′) and two 29-story (369′) towers rising out of a shared, 9-story base. The project will contain office space, a possible hotel, hundreds of dwelling units, and 1,706 parking spaces.

Developers have resorted to a bit of creative financing – including a boost from Progress Energy – to keep the $400 million Edison project in downtown Raleigh alive as it navigates through a tough economy.

Still, no date has been set for the start of construction on the four-building project, which could soar 38 stories or higher. The developers are waiting until they sign an anchor office tenant and secure construction financing.