This marks the 11th year that Business North Carolina has saluted the most important new buildings that have opened across the state in the past year. The list contains massive investment from developers, businesses, healthcare organizations and others, and stretches from North Carolina’s coast to its mountains.

This year’s report cites 10 category winners and four honorable mentions. The BNC editorial team selected the buildings in mid-August with input from representatives of the state’s construction and architecture industries.

Much has changed for two Asheville hotels cited in the list – The Radical, a Hospitality category winner that opened in October 2023, and the Flat Iron Hotel, an honorable mention selection that opened in May. Both remained closed in mid-October due to the effects of flooding caused by Hurricane Helene, which devastated western North Carolina on Sept. 27.

While officials say neither hotel is believed to have suffered structural damage, both properties remained without running water weeks after the storm, just like much of Asheville. City officials aren’t sure how long it will take to restore service. Until then, both properties and much of Asheville are left waiting for the chance to again host guests to their globally famous community.

RADICAL HOTEL
Asheville

Developer: Hatteras Sky (Atlanta)
Contractor: Beverly-Grant (Asheville)
Architect: Rowhouse Architects (Asheville)
Cost: $44.6 million
Size: 63,030 square feet

Built in the 1920s, the five-story building had been everything from a breakfast cereal factory to a distribution hub for wholesale grocers to abandoned before opening in October 2023 as the Radical Hotel, a 70-room boutique hospitality space in Asheville’s River Arts District. The “Rad” was designed to fit the vibe of the River Arts District, home to numerous art studios, bars, restaurants, music venues and breweries. That district was hit hard by the Sept. 27 storm surge caused by Hurricane Helene.

As of mid-October, The Radical remained closed with no timetable for re-opening. The Radical had some flooding, but no structural damage, and no damage to its second-floor lobby or guest rooms. The Radical hosted emergency responders immediately after the storm hit.

The Radical has been described as a “love letter to the city’s creative spirit.”

The updated building boasts towering concrete pillars, exposed brick walls and original street art. Those graffitied walls are now complemented with a curated collection of 200 works of contemporary art. Guest rooms are adorned with murals and custom-made furniture. Interior work was done by New York-based Suomi Design Works and Portland, Maine-based Might & Main, and “inspired by 1970s fashionistas and 1980s Berlin, with a dash of punk, a sprinkle of disco and a penchant for antiquing.” The property’s tax value increased from $2.7 million in 2021 to almost $11.7 million in 2024, according to Buncombe County tax records.

James Beard award finalist Jacob Sessoms oversees the food and beverage concepts in the new hotel.

Read the full Business North Carolina Article and learn more about all the winners and finalists here.

Learn more about Hatteras Sky here.