GoTriangle
HR&A guided GoTriangle through a comprehensive joint development strategy for the Raleigh Union Station Bus Facility, from initial feasibility analysis through partner selection and deal negotiation. Working alongside Gensler and Balfour Beatty, HR&A delivered a complete implementation roadmap and successfully secured Hoffman Associates as the development partner with negotiated ground lease terms.
The project addressed GoTriangle’s need to maximize the value of air rights above their downtown Raleigh bus facility while maintaining operational functionality. HR&A began by facilitating visioning sessions to align stakeholder priorities, then conducted extensive market analysis across residential, office, retail, and hotel sectors to identify viable development opportunities. The team developed three distinct conceptual programs and performed detailed financial modeling to ensure alignment between private sector return expectations and GoTriangle’s fiscal objectives. This analytical foundation enabled HR&A to present data-driven recommendations to GoTriangle’s Board of Directors, securing organizational buy-in for the preferred development approach.
HR&A then translated vision into action by managing the complete partner selection process, designing and executing both RFQ and RFP stages that attracted qualified developers. The firm provided critical evaluation support to GoTriangle’s selection committee, with particular expertise in assessing financial and business term proposals. The engagement culminated in successful negotiations with Hoffman Associates, resulting in favorable ground lease terms that balanced GoTriangle’s long-term interests with market realities. This comprehensive effort positioned GoTriangle to unlock significant value from underutilized assets while advancing transit-oriented development in downtown Raleigh, demonstrating how strategic public-private partnerships can generate both financial returns and community benefits.
