Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Many transplants are moving from bigger cities to get away from the hustle and bustle of big city life. Once people arrive here in North Carolina (assuming they choose Raleigh) they fall in love with the slower pace of life and ultimately decide on how they can incorporate big city living in a smaller city.
THE ANSWER IS DOWNTOWN CONDO’S.
Facts about downtown Raleigh:
• 668 Condo’s are being built with 1291 in the planning stages.
• 10,000 people currently live downtown
• Downtown is approximately 1.1 square mile
• Downtown is one of two major cities that were designed and built from the ground up.
• Currently residents of downtown's population are: single/single parents/newlywed's and empty nesters.
Why are people moving downtown?
• Transit: Commuting alternative. Why should one have to drive to every destination?
• Healthier Lifestyle.
• Having the city as your “living room”---turning the TV off and walking to a neighborhood restaurant, coffee shop or museum for entertainment.
• Reducing Physical Possessions: This allows you to take that month long trip to Spain and not worrying about mail, grass, etc.
• Reducing "household" responsibilities. Downtown condo’s are smaller (which means less housework) and offer more amenities.
• The best schools are located downtown.
Over the next 5 years downtown Raleigh will own 21 “new” condos. The prices will range from 150k-1 million. The new RBC PLAZA will hold 15 levels of office space on the bottom floors and have an additional 8 or so condo’s on the higher floors. THESE CONDO’S WERE SOLD IN ONE DAY.
Amazing!
I wonder how many of those sold-out condos at the RBC Plaza were bought by speculators.
My guess is a good percentage. I was late in the game and told by the agent that they were all under contract but I would be on a waiting list. He also mentioned that he foresaw some of those contracts not closing. I guess much of it depends on their policy for deposits/reservations/contracts. I don't know because I didn't get that far, I was only contemplating... I'm not one to buy into hype, I was considering downtown condos in general, not just RBC. The marketing hype about how fast they were all under contract is not going to sway my opinion.
I'd live downtown if I could afford it. I think some more affordable units are coming online (111 Seaboard and Hue come to mind). Hopefully Blount Street will offer some reasonable units. Many of the condos going up are well out of our price range right now. I used to not mind driving, but after living in the Triangle for over 7 years now--I'd just rather not drive much at all. Investment in downtown is where it's at. This is where the future lies. Very bright future for DT Raleigh and Durham as well.
I currently live downtown, but I rent. If I could afford a small older home or nice condo that doesn't feel so institutionalized, I would absolutely live downtown. I am a young professional and I can't even afford the smallest studio in even the "lower end" projects that are going up. I know I wouldn't be happy living in a shoebox in a condo complex like the Hudson (been to a 1br there, it was nice, but definitely not my style). I don't need luxury at all, just a nice place, well-built, downtown and for a middle-class price. I somehow don't see that ever happening here, though.
raleightransplant: I, too, wish there would be some affordable options in Blount Street Commons. However, while I don't know what your idea of "affordable" is, if you think what is already downtown is unaffordable, I don't think you're going to find anything at Blount Street Commons. Sad shame that people only seeking "luxury condos" and "luxury renovations" of older homes are being catered to downtown. That is not the way to grow a diverse and socio-economically healthy downtown.
It's going to take a bit of time . . . or willingness to explore some of the areas that aren't already seeing significant investment. There are several affordable homes in and around Bloodworth Street, Martin Street, Chavis Way, etc. And, it's still not too late to get into certain parts of Boylan, although that ship may have sailed, too. You just have to accept moving into an area before it is golden. You can look at the resurgence of Harlem, or Columbia Heights/Logan Circle/U Street in Washington, DC. To the extent Cameron Park, Glenwood, or Oakwood are becoming our version of Georgetown, no, things aren't going to be affordable. But there is plenty of stuff available for interested folk to buy and create the authentic type of communities so many people appear to desire.
I love downtown and everything going on there. It's going to be more than just a centerpiece for Raleigh. I think it'll be a downtown for the region, to the extent people want to venture out of the town-like atmosphere in Cary, Knightdale, Garner, Clayton, etc. Unless you're down here every day, it really is easy to underestimate or underappreciate what is going on.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Would you live downtown?
