What's next for the Wells Fargo tower in downtown Raleigh

• The bank's decision comes as city leaders plot efforts to revitalize Raleigh's downtown core, which has been hit hard by remote work trends.

Driving the news: Highwoods, which bought the building for $148 million in 2021, told investors this week it will turn the Wells Fargo branch on the first floor into a lounge that includes "commute-worthy" amenities, according to the Triangle Business Journal.

• Also on the first floor, LM Restaurants — the group behind restaurants like Carolina Ale House, Vidrio and Taverna Agora — is planning an all-day restaurant that will include outdoor dining space.
• LM Restaurants is making a big bet on Raleigh's Fayetteville Street, having bought the nearby 227 Fayetteville St. building for around $15 million.

The big picture: With office workers not returning to downtown Raleigh's main corridor, the city and its building owners are left to find new ways to attract residents, shoppers and eaters to the area.