Remodeling approved for SunTrust to move to Bank of America Tower

The bank offices will relocate from the building it anchored a block south as a merger proceeds with BB&T.

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Construction can proceed on remodeling offices for SunTrust Inc. in the Bank of America Tower at 50 N. Laura St. Downtown.

The city approved a permit Thursday for Marand Builders Inc. to renovate most of the 32nd floor at the 42-story tower for SunTrust’s relocation.

The project cost for the almost 16,000-square-foot project is $1.01 million. Plans show the space will comprise offices, open office space, conference rooms, a “social center” break room and other functions.

SunTrust will relocate from larger offices in the SunTrust Tower a block south at 76 S. Laura St. Its lease expires there in July.

Jacksonville-based VyStar Credit Union bought the SunTrust Tower and intends to move its headquarters this year into the 23-story building.

In November, the CBRE Inc. real estate company announced in an email that SunTrust negotiated a lease for about 18,000 square feet of space in the Bank of America Tower.

SunTrust will be changing its identity, pending a deal announced in February.

Atlanta-based SunTrust Banks Inc. is merging with BB&T Corp., based in Winston-Salem, North Carolina.

BB&T also has a significant presence Downtown, where it anchors the BB&T Tower at 200 W. Forsyth St.

Both will become known by a new name chosen for the merged bank, which will be headquartered in Charlotte. The companies said they hope to complete the deal in the fourth quarter this year.