Red Hat Tower (formerly Two Progress Tower) is the headquarters of the company Red Hat , a subsidiary of IBM . It is located in Raleigh, North Carolina , in the United States. It was completed in 2004 at a cost of $ 100 million as a headquarters for Progress Energy Inc , a conglomerate of Duke energy . It has 19 floors and 366,000 square feet (34,000 m) of space. It is owned by J.P. Morgan Trust Co .
7-414: In 1999, Carolina Power & Light announced plans for a new headquarters tower. The 2000 merger with Florida Progress Corporation which created Progress Energy increased the need for the new building, which at the time had an estimated cost of $ 60 million. On February 14, 2002, Progress announced that the new project, costing $ 80 million, would include retail and residential space as well as offices, with
14-445: A completion date of 2004. The company bought the two-acre site east of the existing headquarters in 2000. In April 2002, Progress selected Carter & Associates of Atlanta to develop the project. The 125,000-square-foot (11,600 m) first phase would be complete in 2004, with the 300,000-square-foot (28,000 m) second phase to follow in 2006. Late in 2002, Progress Energy announced its two new office buildings would be built at
21-464: The Asheville area of western North Carolina. The company merged with Florida Progress Corporation in 2000 to become Progress Energy Inc. In 1908, Raleigh Electric , Central Carolina Power and Consumer Light & Power merged to form Carolina Power & Light . In 1952, CP&L added southeastern North Carolina to its service territory with the acquisition of Tide Water Power , following
28-492: The death of Hugh MacRae . In 1987, CP&L placed the Shearon Harris Nuclear Power Plant into service. In 2002, subsequent to the 2000 acquisition of Florida Progress Corporation , CP&L began doing business as Progress Energy, Inc. It then distinguished its operations as Progress Energy Carolinas and Progress Energy Florida. In 2011, Duke Energy acquired Progress Energy. CP&L
35-447: The same time. Instead, with commercial construction in a slump, Progress planned to speed up the larger project, which would bring together employees from a number of locations, including One Hannover Square , 333 Corporate Plaza and One Exchange Plaza in downtown Raleigh. On September 2, 2004, the building officially opened with a ribbon-cutting ceremony . The January 2011 announcement that Progress will merge with Duke Energy left
42-592: The status of Two Progress Plaza in question, since completion of the merger could have indicated that the company needed less space. However, on August 25, 2011, Red Hat announced plans to move 600 employees from its offices on the N.C. State Centennial Campus . A ribbon cutting ceremony was held June 24, 2013 in the re-branded Red Hat Headquarters. 35°46′30″N 78°38′20″W / 35.7749°N 78.6390°W / 35.7749; -78.6390 Carolina Power %26 Light Carolina Power & Light (CP&L) , later doing business as Progress Energy Inc. ,
49-534: Was an electrical generation, transmission, and distribution utility based in Raleigh, North Carolina . The company was founded on July 13, 1908 as the result of the merger and buyout of numerous small, private, and financial distressed utilities across the state. Known locally as "CP&L" the company's main operations were in Eastern North Carolina and in parts of northeastern South Carolina and in
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