The city has been trying to sell the vacant, 60-year-old Hudson Belk department store for the past two years. A final decision on the property's fate is expected by year end. The store is located in the 300 block of the Fayetteville Street Mall and is considered by many the most visible eyesore Downtown.

The city has received eight proposals to redevelop the property. They range from replacing the building with a 40-story office and residential tower to renovating the structure for condos and retail shops. The council considered opening the mall to traffic about four years ago, but failed to do so. Mike Williams, vice president of Karnes Research Co., believes that opening the mall to traffic and filling all the stores could turn the area into the entertainment center of Raleigh.

Four of the eight proposals would tear down all or part of the department store. Developer Roland Gammon would replace the structure with a building that would have a parking deck, retail at mall level and condos above fronting the mall. Developer Roland Britt would also demolish the structure and build a high-rise with about 40 floors of offices, retail and residences.