Mayor Nancy McFarlane and Dominion Realty Partners, LLC, co-developer of PNC Plaza, said an 11-story, $50 million, hi-rise called Charter Square is planned for Fayetteville Street.
"Charter Square will prove to be another driving force that brings businesses to our community and makes Raleigh one of the most sought-after places to live and work in the country," said Mayor McFarlane in a news release.
An artist's rendering showed a steel and glass building that designers said would feature 225,000 square feet of rentable space.
The plans include an outdoor plaza courtyard, direct underground parking and an on-site restaurant.
Construction is scheduled to begin this fall and should take about a year.