Empire Properties and Empire Eats 

Downtown Raleigh looks very different today than it did three decades ago, and Empire Properties has been a major reason why. By restoring historic structures and putting them back into use, the company has helped reestablish downtown as a vibrant destination for community and culture. 

“It was always about downtown,” says Greg Hatem, founder and managing partner of Empire Properties. “When we started, Raleigh’s downtown had lost most of its activity. The theaters had closed, many of the retailers were gone, and people came in at nine and left at five. We wanted to restore these historic buildings and create reasons for people to stay—to come earlier, stay later, and come back on weekends.” 

Greg grew up in Roanoke Rapids, where his family ran a small store in a historic theater building. Watching how that building changed over time shaped his understanding of preservation and adaptive reuse. “I learned early that an old building can have many lives,” he says. “So when we came to downtown Raleigh, the goal was revitalization. Development was just the tool.” 

As Empire restored buildings, a new need became clear: those spaces needed activity, energy, and connection. That led to the creation of Empire Eats, a restaurant group built on authenticity and heritage. “We don’t do anything just to fill a space,” Greg says. “If we’re going to open a restaurant, it has to be real. It has to come from who we are.” 

The company’s restaurants reflect personal and cultural history, from The Pit, rooted in the traditions of whole-hog barbecue, to Sitti, inspired by Greg’s Lebanese grandmother, to Gravy and Sonora, representing other meaningful food stories. 

Greg Hatem, founder and managing partner for Empire Properties, has guided the restoration of more than 70 buildings in the Raleigh area. Empire includes real estate, construction, restaurant, and property management divisions.

“We want to do things at a level where people choose to come downtown,” Greg says. “If you’re going to do it, do it well, do it carefully, and make it authentic.” 

Today, Empire includes more than 70 restored buildings and nearly 400 employees across its real estate, construction, restaurant, and property management divisions. The company holds on to its properties long-term, maintaining and operating them with the same care that guided their restoration. 

Restoring historic structures in downtown Raleigh is a key goal of Empire Properties. 

Throughout this journey, TowneBank has been a key partner. “TowneBank is a true relationship bank,” Greg shares. “They understand that our work isn’t about quick returns. We invest in buildings for the next 100 years. TowneBank understands that vision.” Greg works closely with Bill Smith, senior vice president and commercial banker in the Glenwood office. 

TowneBank has financed restoration projects and tax-credit developments and even supported Greg’s home mortgage.  

“Most banks would struggle to understand our structure,” Greg says. “TowneBank takes the time to understand who we are. That’s the difference.” The relationship, he says, is built on shared values. “During the recession, we sat down and asked how we could get through it together. That’s what partnership looks like. TowneBank has been part of our success from the beginning.” 

Looking ahead, Empire continues to focus on community impact. Two significant restoration projects are currently underway on Fayetteville Street, just steps from the State Capitol, again financed in partnership with TowneBank. 

“We’re still asking the same question we asked 30 years ago,” Greg says. “How can we help this city become the best version of itself? That’s what motivates us.” 

For more information, visit Empire1792.com.