$75-90 Million Cathedral Campus Coming to Raleigh
- Sep 15, 2011
The Catholic Diocese of Raleigh commissioned McCrery Architects LLC to design a new cathedral campus that will cost between $75 million to $90 million.
The campus will feature a 2,000-seat cathedral, a two-story gathering hall and a three-story ground level and below-ground parking facility. Having already received $10 million in donations from a small group of donors, the diocese will initiate a large-scale fundraising campaign to obtain the remainder of the capital.
The project will be developed on a 39-acre site, adjacent to Western Boulevard and Centennial Parkway. According to Bishop Michael Burbidge, the need for expansion is due to the dramatic increase of the number of worshipers. From 2000 to 2010, the number of registered worshipers had risen to 217,125 from 152,493. In addition, the diocese estimated that there are about 200,000 unregistered Catholic worshipers.
McCrery Architects LLC is a Washington, D.C.-based company that specializes in classical architecture. The company showcases an extensive portfolio of liturgical projects throughout the U.S.: The New Mount Carmel of America Monastery, New Saint Cecilia Chapel and Saint Bernadette Catholic Church.
In related news, Oculus Capital Group (OCG) purchased University Suites for $19.6 million. Located near North Carolina State University, the 518-bed, 136-unit property features three-bedroom, three-bathroom and four-bedroom, four-bathroom units. OCG plans to invest more than $1 million in improvements: the integration of a new shuttle bus, landscaping and clubhouse and pool area upgrades. The property will be managed by the Preiss Company of Raleigh.The acquisition was funded through $6.8 million in joint venture equity from a private investor and a $14 million senior debt loan from Fannie Mae.