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Charlotte built a lot in the recent cycle. Raleigh is much siower to hop on any development waves.
Midtown Atlanta has 40 new towers from this last development cycle that continues even now, although it's got to be nearing an end. 40 new towers added to the many that were already there is pretty crazy, and I don't think that includes West Midtown which now almost like a city unto itself.
That rent cited previously seems about average to a little low for studio apts. Midtown Atlanta is probably averaging $1700 for tiny studios in new buildings and Raleigh's downtown rentals are starting in the $1300s and up. The upper floors do seem pricey but the sf of each unit is not stated on here.
Slower to hop on development waves? Raleigh and the whole Triangle has been surfing a large development wave for a long time now. Slower to go as vertical? Yes that's true. There's a few reasons for that. But that doesnt mean the development has been slow by any stretch.
Development has started on Raleigh Iron Works. This is a joint project from Jamestown & Grubb Ventures. Set to include 81k sqft of retail, 540k sqft of creative office space, and 219 residential units.
Really looking forward to the revitalization of this property. Should be high quality as Jamestown has done Ponce City Market in Atlanta, Chelsea Market and Industry City in NYC, and the Innovation & Design building in Boston.
Slower to hop on development waves? Raleigh and the whole Triangle has been surfing a large development wave for a long time now. Slower to go as vertical? Yes that's true. There's a few reasons for that. But that doesnt mean the development has been slow by any stretch.
I like Raleigh's sitting back and watching before adopting the latest trends etc.
But in this last development boom since the great recession, the amount of development in Charlotte and Atlanta eclipses what has been built in the Triangle exponentially, and that's not about height necessarily.
Charlotte has built tens of thousands of new apts. along it rail line and dozens of new buildings downtown. Its skyline look like a city of 10 million now.
And Atlanta dwarfs both of them. Midtown Atlanta alone has 40 new towers (i'm repeating myself lol), and the metro region altogether has seen $50-75 Billion in new development
.'
I like Raleigh's pace and strategy though. It keeps the quality of life high.
I like Raleigh's sitting back and watching before adopting the latest trends etc.
But in this last development boom since the great recession, the amount of development in Charlotte and Atlanta eclipses what has been built in the Triangle exponentially, and that's not about height necessarily.
Charlotte has built tens of thousands of new apts. along it rail line and dozens of new buildings downtown. Its skyline look like a city of 10 million now.
And Atlanta dwarfs both of them. Midtown Atlanta alone has 40 new towers (i'm repeating myself lol), and the metro region altogether has seen $50-75 Billion in new development
.'
I like Raleigh's pace and strategy though. It keeps the quality of life high.
Raleigh is much smaller than Charlotte (and certainly Atlanta !!), so it’s not a fair to compare the pace of development to either one of these cities, although it is accelerating.
There’s no question that the quality of development has improved dramatically in the Triangle, spearheaded both by local developers like Kane and non-local developers like Hoffman (under construction) Fallon (under construction) and Hines (under construction), and as Tret Y mentioned, Jamestown.
I like Raleigh's sitting back and watching before adopting the latest trends etc.
But in this last development boom since the great recession, the amount of development in Charlotte and Atlanta eclipses what has been built in the Triangle exponentially, and that's not about height necessarily.
Charlotte has built tens of thousands of new apts. along it rail line and dozens of new buildings downtown. Its skyline look like a city of 10 million now.
And Atlanta dwarfs both of them. Midtown Atlanta alone has 40 new towers (i'm repeating myself lol), and the metro region altogether has seen $50-75 Billion in new development
.'
I like Raleigh's pace and strategy though. It keeps the quality of life high.
I smell some hyperbole.
But yes typically when larger cities and metros are also growing as rapidly as a smaller city, the development will logically be more grand in scale. My point is that this doesn't mean the smaller cities development is slow. Would it be fair for someone from NYC to say Charlotte and Atlanta's development has been slow just because it's not apples to apples on the same scale as everything done in NYC the last development cycle? No of course not.
But yes typically when larger cities and metros are also growing as rapidly as a smaller city, the development will logically be more grand in scale. My point is that this doesn't mean the smaller cities development is slow. Would it be fair for someone from NYC to say Charlotte and Atlanta's development has been slow just because it's not apples to apples on the same scale as everything done in NYC the last development cycle? No of course not.
I like Raleigh's sitting back and watching before adopting the latest trends etc.
But in this last development boom since the great recession, the amount of development in Charlotte and Atlanta eclipses what has been built in the Triangle exponentially, and that's not about height necessarily.
Charlotte has built tens of thousands of new apts. along it rail line and dozens of new buildings downtown. Its skyline look like a city of 10 million now. That is extremely huge number.
And Atlanta dwarfs both of them. Midtown Atlanta alone has 40 new towers (i'm repeating myself lol), and the metro region altogether has seen $50-75 Billion in new development
.'
I like Raleigh's pace and strategy though. It keeps the quality of life high.
10 million? That’s 2 million more than Chicago.
It looks representative of its current metro size if not larger. Though actually inside the uptown area, it feels a lot smaller than it looks from afar.
Being in SouthEnd or even NoDa makes Charlotte feel bigger though. The skyline the shops, retail, bars, etc.
Compared to Canadian cities most US cores are pretty humble. Edmonton metro population is the size of Raleigh-Cary metro but their skyline twice as impressive as Charlotte's. They even have two almost super talls under construction.
Once Charlotte embraces high rise condos again there will probably be a new boom in high rises and probably the next tallest--like what is happening with Austin.
Compared to Canadian cities most US cores are pretty humble. Edmonton metro population is the size of Raleigh-Cary metro but their skyline twice as impressive as Charlotte's. They even have two almost super talls under construction.
Once Charlotte embraces high rise condos again there will probably be a new boom in high rises and probably the next tallest--like what is happening with Austin.
High rise residentials looks great in Austin because it’s dominated by residential.
The much larger office towers of Charlotte would obscure any 900’ residential tower.
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