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Progress Energy will begin construction in late 2002 on a new $80-million facility in downtown Raleigh. Located behind the company's current high rise, the 19-story building will house up to 400,000-sf of office space accompanied by 27,000-sf of street level retail space, 72 condominiums, and seven parking levels. The project team includes Carter & Associates of Atlanta, providing planning, financing, design and construction, Cooper Carry of Atlanta as architect of record, and Brasfield & Gorrie as general contractor. The facility is slated for completion in the first quarter of 2004.