Two Progress Plaza
Encyclopedia
Two Progress Plaza is a skyscraper in Raleigh, North Carolina
. It was completed in 2004 at a cost of $100 million as a headquarters for Progress Energy Inc
and has 19 floors and 366000 square feet (34,002.5 m²) of space. It is owned by J.P. Morgan Trust Co.
In 1999, Carolina Power & Light
announced plans for a new headquarters tower. The 2000 merger with Florida Progress Corporation
which created Progress Energy increased the need for the new building, which at the time had an estimated cost of $60 million. On February 14, 2002, Progress announced that the new project, costing $80 million, would include retail and residential space as well as offices, with a completion date of 2004. The company bought the two-acre site east of the existing headquarters
in 2000. In April 2002, Progress selected Carter & Associates of Atlanta to develop the project. The 125000 square feet (11,612.9 m²) first phase would be complete in 2004, with the 300000 square feet (27,870.9 m²) second phase to follow in 2006. Late in 2002, Progress Energy announced its two new office buildings would be built at the same time. Instead, with commercial construction in a slump, Progress planned to speed up the larger project, which would bring together employees from a number of locations, including One Hannover Square, 333 Corporate Plaza
and One Exchange Plaza in downtown Raleigh.
On September 2, 2004, Two Progress Plaza officially opened with a ribbon-cutting ceremony.
The January 2011 announcement that Progress will merge with Duke Energy
left the status of Two Progress Plaza in question, since completion of the merger would likely mean the company needs less space. However, on August 25, 2011, Red Hat
announced plans to move 600 employees from its offices on the N.C. State Centennial Campus to Two Progress Plaza once Progress leaves in 2012, assuming completion of the merger. Red Hat intends to rename the building and possibly make other changes.
Raleigh, North Carolina
Raleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
. It was completed in 2004 at a cost of $100 million as a headquarters for Progress Energy Inc
Progress Energy Inc
Progress Energy , headquartered in Raleigh, N.C., is a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and...
and has 19 floors and 366000 square feet (34,002.5 m²) of space. It is owned by J.P. Morgan Trust Co.
In 1999, Carolina Power & Light
Carolina Power & Light
Carolina Power & Light was an electrical generation, transmission, and distribution utility based in Raleigh, North Carolina. The company was founded on July 13, 1908 as the result of the merger and buyout of numerous small, private, and financial distressed utilities across the state...
announced plans for a new headquarters tower. The 2000 merger with Florida Progress Corporation
Florida Progress Corporation
Florida Progress Corporation a.k.a. Florida Progress was a utility holding company based in St. Petersburg, Florida. The company was the parent company for Florida Power Corporation which distributed power over many parts of central and north Florida. The company merged with Carolina Power & Light...
which created Progress Energy increased the need for the new building, which at the time had an estimated cost of $60 million. On February 14, 2002, Progress announced that the new project, costing $80 million, would include retail and residential space as well as offices, with a completion date of 2004. The company bought the two-acre site east of the existing headquarters
One Progress Plaza (Raleigh, North Carolina)
One Progress Plaza is a skyscraper in Raleigh, North Carolina. It was completed in 1977 as a headquarters for Carolina Power & Light and has 21 floors and of space. It is owned by Hawthorn Associates....
in 2000. In April 2002, Progress selected Carter & Associates of Atlanta to develop the project. The 125000 square feet (11,612.9 m²) first phase would be complete in 2004, with the 300000 square feet (27,870.9 m²) second phase to follow in 2006. Late in 2002, Progress Energy announced its two new office buildings would be built at the same time. Instead, with commercial construction in a slump, Progress planned to speed up the larger project, which would bring together employees from a number of locations, including One Hannover Square, 333 Corporate Plaza
Capital Bank Plaza
Capital Bank Plaza is a skyscraper in Raleigh, North Carolina which houses the headquarters of Capital Bank. Formerly known as 333 Corporate Plaza, the 15-story building at 333 Fayetteville Street has of space and is an "outstanding example of International Style modernism" and "features black...
and One Exchange Plaza in downtown Raleigh.
On September 2, 2004, Two Progress Plaza officially opened with a ribbon-cutting ceremony.
The January 2011 announcement that Progress will merge with Duke Energy
Duke Energy
Duke Energy , headquartered in Charlotte, North Carolina, is an energy company with assets in the United States, Canada and Latin America.-Overview:...
left the status of Two Progress Plaza in question, since completion of the merger would likely mean the company needs less space. However, on August 25, 2011, Red Hat
Red Hat
Red Hat, Inc. is an S&P 500 company in the free and open source software sector, and a major Linux distribution vendor. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina with satellite offices worldwide....
announced plans to move 600 employees from its offices on the N.C. State Centennial Campus to Two Progress Plaza once Progress leaves in 2012, assuming completion of the merger. Red Hat intends to rename the building and possibly make other changes.