Raleigh Banking and Trust Company Building
Also known as: Raleigh Building
Why it's listed
Rising eleven stories at the corner of West Hargett and Fayetteville streets, one block south of the State Capitol, the Raleigh Building was constructed in two stages. Architect Philip Thornton Marye designed the first three floors in 1913 for the Raleigh Banking and Trust Company, with a steel frame and footings prepared for future growth. In 1928-29 the H. A. Underwood Company added eight more floors, built by John W. Hudson, Jr. for $275,000. The bank failed in 1930, and the building was sold in 1934. A 1935-36 remodeling by Underwood replaced the original limestone columns and terra cotta cornice on the lower stories with brick pilasters, giving them a Moderne look that matches the upper floors. The building is recognized for its commercial history, its tenants such as power companies and government agencies, and its engineering and design. It is the only tall office building in Raleigh built in two phases and shows the move from Neo-Classical Revival to Moderne style.
Significance in brief: The nomination argues it reflects Raleigh's early twentieth-century commercial prosperity and the engineering and design of tall office buildings. It is described as the only Raleigh example of the shift from Neo-Classical Revival to Moderne style, and the city's only tall office building erected in two phases.
Machine-generated summary. This summary was generated by a language model from the official nomination document and has not been reviewed line by line by an editor. It may contain errors. Check the source document before relying on any detail. Source: nomination document (PDF) · National Archives catalog entry. NRHP reference 93000543, listed June 17, 1993. Summary generated October 2026 (model claude-sonnet-5-5, prompt v1.0-2026-10-29, confidence high).
Key facts
| Address | 5 W. Hargett St., Raleigh |
|---|---|
| County | Wake County |
| Listed | June 17, 1993 |
| Reference number | 93000543 |
| Resource type | Building |
| Period of significance | 1928-1943 |
| Architect / builder | Underwood, H. A.-architect; Hudson, John W.-builder; Danielson, John F.-builder |
| Architectural style | Classical Revival; Moderne |
| Criteria |
|
| Areas of significance | Commerce, Engineering, Architecture |
| Level of significance | Local |
| Status (as stated in the nomination) | Described as well maintained and still occupied by ground-floor retail stores and business offices above, with altered storefronts, replacement windows (c. 1978) and renovated interiors. |
| Acreage | 0.9 |
| Within district | Fayetteville Street Historic District |
| Coordinates | 35.77765, -78.63952 (NPS GIS) |
What listing means for this property
For an income-producing building, listing (individually or as a contributing building in a district) is the gateway to the 20% federal rehabilitation tax credit on qualified rehabilitation costs, often stackable with state credits. Work claiming the credit must follow the Secretary of the Interior's Standards and be approved in advance.
Listing does not restrict a private owner acting without federal money or permits; where federal funding or licensing is involved, Section 106 review applies.
General information, not legal or tax advice. Rules change; confirm with your State Historic Preservation Office or a qualified adviser.
Sources and further reading
- National Park Service, National Register of Historic Places database (snapshot May 2026), reference 93000543.
- Nomination form (PDF, National Archives) — catalog entry
- Wikipedia article (used for cross-checking only; text not reproduced here)
- Wikidata Q20639525
- This listing as JSON
Last updated October 2026. Found an error? See the editorial policy for how to report it.