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RALEIGH, N.C., Sept. 12, 2003 -- Progress Energy announced that the mixed-use development being built in downtown Raleigh, N.C., will be named Progress Plaza.
The company's new office space on the corner of East Davie and South Wilmington streets will be known as Two Progress Plaza, and Progress Energy's existing headquarters building at 410 S. Wilmington St. will be identified as One Progress Plaza. The company has not yet determined the transition date for the name of its headquarters building.
"Downtown Raleigh is a great place to do business, to enjoy cultural activities and to live," said William Cavanaugh, chairman and CEO of Progress Energy. "We want Progress Plaza to be a destination for people, an area known for the high quality of its retail, residential and office space, and one that reflects the diversity of Raleigh and North Carolina."
Construction on the mixed-use project began in April and is proceeding on schedule. When completed in late 2004, the current phase of the project will have 366,000 square feet of office space, 23,400 square feet of retail and more than 1,000 new parking spaces.
Progress Energy (NYSE: PGN - News), headquartered in Raleigh, N.C., is a Fortune 250 diversified energy company with more than 23,000 megawatts of generation capacity and $8 billion in annual revenues. The company's holdings include two electric utilities serving more than 2.8 million customers in North Carolina, South Carolina and Florida. Progress Energy also includes nonregulated operations covering competitive generation, energy marketing, natural gas exploration, fuel extraction, rail services and broadband capacity. For more information about Progress Energy, visit the company's Web site at www.progress-energy.com.
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