Riverside Centre is expected to rise east of the 20-floor Bank of America building, currently the city's tallest structure, taking over the block adjacent to Sprague on the south, Riverside on the North, Howard on the west and Stevens on the east. The whole block, except for the Fernwell Building, has been bought by K. Wendell Reugh, a local developer.

While Riverside Centre will stand only 19 stories tall, it will be topped with a 65-foot antenna spire that makes it higher than the B of A building. Inside the 232,000-sf structure are plans for a main floor of retail shops and restaurants, high-speed broadband access and energy efficient heating and cooling systems. The tower also will have 529 parking spaces on five floors.

Local brokerage firm Kiemle & Hagwood, which is representing Reugh, say demolition of existing buildings will not begin until half of the $50-million building has been pre-leased. The hope is to break ground in early 2002 and for tenants to start occupying space in 2004.