History
The Capital Construction Company was formed in 1923 to build a hotel in Raleigh to attract convention traffic that had been going to Greensboro and Durham. In January 1924, the hotel opened and at the time, the Sir Walter was the largest building in the southern portion of Raleigh's business district. The hotel became the unofficial headquarters of the North Carolina Democratic Party, at the time the dominant political force in the state. By 1925, the Sir Walter was home to over 80 percent of the state legislature. In addition to legislators, the hotel was home to lobbyists, aides, jurors, newspapermen, businessmen and other influential individuals over the next three decades.
The Great Depression forced the building’s owners into bankruptcy in 1934. The hotel was leased to the North State Hotel Company in 1935 and fully renovated. After the company added 50 rooms in 1938, the hotel became the largest in the state and gave the Sir Walter a reputation as one of North Carolina’s top convention hotels.
During the 1960s, suburban motel development, the completion of the new state Legislative Building, and general downtown decline affected the hotel's business. In 1967, John A. Williams, owner of the Sir Walter Hotel, donated the Hotel to the North Carolina State University Foundation. The $2 million hotel continued operating under the same management and employees. Profits from the hotel went to support student scholarships and financial aid. In 1968 the hotel joined the Sheraton Inn chains and was renamed the Sheraton-Sir Walter Hotel. In 1969, the university sold the hotel to Plaza Associates for $1.84 million.
The hotel closed and the building was converted into 140 apartments for seniors in the late 1970s. The Sir Walter Raleigh Hotel is now a designated Raleigh Historic Landmark.
Read more about this topic: Sir Walter Raleigh Hotel
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