The
Raleigh
Furniture
Building was built in 1914 and originally served as home to the Raleigh Furniture Store and later to Kimbrell's Furniture. This stand-alone structure is located on Hargett Street, the best pedestrian street in downtown
Raleigh across the corner from urban green park, Moore Square, flanked by arts, cultural entertainment, venues, and restaurants. It has a brick fa?ade, exposed beam ceiling on third floor, original tin ceiling tiles on the second floor, and hardwood floors throughout the building.
The $4.5 Million renovation of the building by Empire Properties has retained and revitalized its historic qualities while adding additional features, such as additional windows for more natural light on the west side of the building . The newly renovated structure adapted the building for reuse by new, enterprising businesses that desire to operate in the heart of the city. As a whole, the property was restructured into 15,000 sq ft of flexible, open floor plan space with the first floor and daylight basement ideal for retail and restaurant space and second and third floors perfect for office space.
Sherbert Group has been engaged into the project to provide its expertise in accounting and consulting services. The project experienced major adjustments in the development budget and the need for refinancing, so professional consulting services were required to restructure the project. Sherbert Group prepared the new set of financial projections and also assisted the developer in negotiating the changes with involved parties. The Sherbert Group also prepared the cost certification for the project and annual tax returns.
For its real estate development and historic preservation efforts, Empire Properties has been recognized by the Raleigh City Council with the Sir Walter Raleigh Award for Community Appearance, by the Triangle Business Journal with the Edge Award for Best General Contractor in an Urban Environment, and by the Triangle Commercial Real Estate Women with the Impact Award for work in restoring downtown Raleigh. Empire Properties also has received a number of Capital Area Preservation Anthemion Awards for its outstanding dedication and commitment to excellence in historic preservation.
