Downtown new hi-rises...Why so much? (Raleigh, Durham: for sale, apartment, condos)

[VICTORIA.1]

I am moving from NY and wanted to be in walking distance to restaurant's ect.. Being single, I am not interested in being tucked away in a secluded family neighborhood... I am surprised at the prices per sq foot.. I wanted to spend 250-350 and I only seem to get one bed one bath..

Any other solutions out there? I love the new RBC building, but the taxes and the maintence will out price me...

Thanks

[RaleighRob]

Why they're so high? Greedy developers. Seriously though, I guess supply hasn't caught up with demand yet.

Does it have to be a high-rise? There are several mid-rises in downtown with condo units in your price range with 2 or more bedrooms.
Just doing a quick search, I see the following with units for sale in your price range and 2+ bedrooms: Park Devereaux, The Hudson, Palladium Plaza, Boylan Condos, Governors Point, Ellington Place, Velvet Cloak.
And there's probably more, not counting those under construction.

In addition, there are numerous neighborhoods in and around downtown with single-family houses and townhouses in that price range.

Good luck!

[VICTORIA.1]

Originally Posted by RaleighRob

Why they're so high? Greedy developers. Seriously though, I guess supply hasn't caught up with demand yet.

Does it have to be a high-rise? There are several mid-rises in downtown with condo units in your price range with 2 or more bedrooms.
Just doing a quick search, I see the following with units for sale in your price range and 2+ bedrooms: Park Devereaux, The Hudson, Palladium Plaza, Governors Point, Velvet Cloak.
And there's probably more, not counting those under construction.

In addition, there are numerous neighborhoods in and around downtown with single-family houses and townhouses in that price range.

Good luck!

Thanks RR.. I have looked at some of them.. I forgot to tell you I wanted a pool..LOL.. I know, you can't have it all..Palladium Plaza is nice... I am visiting in April... I just wish I had more money!!

[North_Raleigh_Guy]

Originally Posted by VICTORIA.1

I am moving from NY and wanted to be in walking distance to restaurant's ect.. Being single, I am not interested in being tucked away in a secluded family neighborhood... I am surprised at the prices per sq foot.. I wanted to spend 250-350 and I only seem to get one bed one bath..

Any other solutions out there? I love the new RBC building, but the taxes and the maintence will out price me...

Thanks

This is a question I have often asked myself! I love Downtown Raleigh but I think the prices of the new hi-rise condos is overblown at this time. I think they are awesome looking, but I just don't see how they get people to fork over gobs of money for them at this point in time. I'm sure they will appreciate nicley as downtown continues to see more redevelopment activity, but I agree that the idea of getting in "on the ground floor" seems to have been put out of reach for your average working person.

RaleighRob has great suggestions on alternatives that I think are a much better value.

[VICTORIA.1]

Thank you both.. I really appreciate the input..

What do you all think about going to Chapel-Hill? Is that like a small town Raleigh? I know this question sounds funny, but I am reaching for a solution..

Thanks..

[ejmatl]

Originally Posted by VICTORIA.1

I forgot to tell you I wanted a pool.

When I moved to Atlanta from NYC I, too, thought a pool would be a great idea. I can honestly say that in the 9 years I lived there I visited my apartment's/condo's pool a total of less than 12 times. When you don't have it, you want it. When you have it, you don't use it. Kinda like half of the kitchen gadgets I've amassed over the years :-)

eileen

[RaleighRob]

Originally Posted by VICTORIA.1

Thank you both.. I really appreciate the input..

What do you all think about going to Chapel-Hill? Is that like a small town Raleigh? I know this question sounds funny, but I am reaching for a solution..

Thanks..

Well, it's another of the three corners of the Triangle. Since it is smaller, it has way fewer downtown/urban condos though. And prices there are actually higher, due to high demand vs less land.

If you want something a bit cheaper than downtown Raleigh's condos, try taking a look at downtown Durham's. A little more for the money, and many of them are in renovated warehouses. Alas, though, no pool on hardly any of them I believe.

The Paramount is another one with a pool..but I have a feeling that getting a 2-bed there will put you over the 350 mark. I guess you just have to figure out which you need more...the second bedroom or the pool. The thing is, I'd go for the 2nd bedroom...there's plenty of public pools, Y's, and even some gym/health clubs with pools.