2025 Space Awards: Triangle’s top commercial real estate developments

Top Redevelopment: 150, 121 Fayetteville St.

  • Location: 150 and 121 Fayetteville St., Raleigh
  • Project value: $3.6 million
  • Size: 14,600 square feet

Highwoods Properties has spearheaded the transformation of 150 and 121 Fayetteville St., a cornerstone of Downtown Raleigh. Rooted in the city since 1978, Highwoods Properties’ decision to move its headquarters to 150 Fayetteville and revitalize this 29-story tower demonstrates its commitment to Raleigh’s urban core.

Completed in 1990, the 550,538-square-foot 150 Fayetteville building had faced challenges in the wake of the pandemic. Highwoods embarked on a renovation of its 8,000-square-foot lobby and neighboring storefronts at 121 Fayetteville, aiming to restore it as a vibrant hub of activity. The redesign introduced modern finishes, enhanced accessibility and new entrances to create an elevated, contemporary atmosphere.

At 121 Fayetteville, 6,600 square feet of retail space were transformed with glass facades and operable windows. These enhancements modernized the aesthetic and made the space more versatile and appealing.

Top Restaurant Project: Ponysaurus Brewing Company Barrel Room and Restaurant

  • Location: 2221 Iron Works Drive, Suite 100, Raleigh
  • Project value: $2.3 million
  • Size: 6,000 square feet

In 2024, Nick Hawthorne-Johnson and the Cast Iron Group brought Ponysaurus Brewing Co. to Raleigh, opening a 6,000-square-foot barrel room and restaurant in the Raleigh Iron Works development. The project is a collaboration with Center Studio Architecture, interior designer Rochelle Johnson and Barringer Construction.

The space showcases features such as cast-in-place concrete booths, a mezzanine for elevated seating and indoor-outdoor areas created by oversized overhead doors. The custom wood-topped bar, adorned with handcrafted tiles, serves as a striking focal point, complementing the brewery’s scratch kitchen, full-service bar with 18 taps, and dedicated sour beer facility.

The highlight is a life-size Ponysaurus skeleton, designed and 3D-printed in Denmark.

Original Story