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Old 01-08-2009, 02:43 PM
 
Location: Middle Creek Township
2,034 posts, read 4,209,582 times
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I just noticed that both sides of Louis Stephens Drive at the intersections of Carpenter Upchurch Road in Cary has been staked for development. I have noticed the surveyors there lately and now it is all staked on both sides of the road, right down to the Carramore subdivision. Does anyone know what is going in there? By the staking distance, I am guessing housing. I have to say that I am quite surprised that they would start another development in the current slowdown. I know that is an extremely hot area, but is now the time?
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Old 01-08-2009, 03:14 PM
 
1,112 posts, read 2,741,119 times
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Quote:
Originally Posted by Charlton Dude View Post
I just noticed that both sides of Louis Stephens Drive at the intersections of Carpenter Upchurch Road in Cary has been staked for development. I have noticed the surveyors there lately and now it is all staked on both sides of the road, right down to the Carramore subdivision. Does anyone know what is going in there? By the staking distance, I am guessing housing. I have to say that I am quite surprised that they would start another development in the current slowdown. I know that is an extremely hot area, but is now the time?
A convenient location but directly under the new RDU Terminal 2 flightpath
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Old 01-08-2009, 05:19 PM
 
Location: Middle Creek Township
2,034 posts, read 4,209,582 times
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Originally Posted by Beermat View Post
A convenient location but directly under the new RDU Terminal 2 flightpath

Not really. The planes normally go to one side or the other there. It's actually pretty quiet in that area. Almost 2 miles north of there in Carpenter Village is closer to directly under the flight path. You need to enjoy planes when you are outside in CV.
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Old 01-08-2009, 05:36 PM
 
144 posts, read 535,130 times
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is this right near where that Olde Carpenter townhome development did not come to be? It seems like whoever is building might want to look into that before building other houses in the area...
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Old 01-08-2009, 06:09 PM
 
Location: Middle Creek Township
2,034 posts, read 4,209,582 times
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Originally Posted by kbb34 View Post
is this right near where that Olde Carpenter townhome development did not come to be? It seems like whoever is building might want to look into that before building other houses in the area...

It's a little over a mile south of that.
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Old 01-09-2009, 06:14 AM
bta
 
Location: Cary, NC
284 posts, read 1,838,587 times
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Quote:
Originally Posted by Charlton Dude View Post
I just noticed that both sides of Louis Stephens Drive at the intersections of Carpenter Upchurch Road in Cary has been staked for development. I have noticed the surveyors there lately and now it is all staked on both sides of the road, right down to the Carramore subdivision. Does anyone know what is going in there? By the staking distance, I am guessing housing. I have to say that I am quite surprised that they would start another development in the current slowdown. I know that is an extremely hot area, but is now the time?
I think it's just road realignment. Construction to begin Spring 2009.

Jenks Carpenter Road Intersection Realignment (http://www.townofcary.org/depts/dsdept/engineering/engproj/jenkscarpenteroverview.htm - broken link)

http://www.townofcary.org/depts/dsdept/engineering/engproj/jenkscarpentermap.jpg (broken link)
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Old 01-09-2009, 07:42 AM
 
Location: Raleigh, NC
12,475 posts, read 30,883,605 times
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I was told by an onsite Agent that the neighborhood that she is in was not allowed to continue to build spec houses because of the economy. Now, after about 6 months, she told me that her company told them to build a few spec houses, as the demand is there. Interesting, huh?!!

Vicki
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Old 01-09-2009, 03:00 PM
 
Location: Middle Creek Township
2,034 posts, read 4,209,582 times
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Quote:
Originally Posted by VickiR View Post
I was told by an onsite Agent that the neighborhood that she is in was not allowed to continue to build spec houses because of the economy. Now, after about 6 months, she told me that her company told them to build a few spec houses, as the demand is there. Interesting, huh?!!

Vicki

Sounds like you may have spoken with Jennifer in my neighborhood. There are only 4 homes sites left to start construction. They decided to start building them now, as there has been more interest in the homes and the interest rates are incredibly low. This will finish off our neighborhood.


To the previous poster - Thanks for the link on the road realignment. I like the plans. It will really be a plus.
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Old 01-09-2009, 04:03 PM
 
Location: North Raleigh
820 posts, read 2,691,654 times
Reputation: 475
Quote:
Originally Posted by Charlton Dude View Post
I just noticed that both sides of Louis Stephens Drive at the intersections of Carpenter Upchurch Road in Cary has been staked for development. I have noticed the surveyors there lately and now it is all staked on both sides of the road, right down to the Carramore subdivision. Does anyone know what is going in there? By the staking distance, I am guessing housing. I have to say that I am quite surprised that they would start another development in the current slowdown. I know that is an extremely hot area, but is now the time?
People are still buying houses, it's just the insanity of the past 5 years has gone. Some people still have good jobs, good credit, and a need to buy. People are sill having kids and need to expand or move up.

I don't think it's a problem to build as long as it's well planned. Prior to now, too many builders were just buying up land at any cost because they thought they could always sell a $450k+ home on it all day. Times have changed and the builders who were too greedy are suffering just like the mortgage lenders.

The other thing is that land is cheaper and there is probably cheap labor to be found as well in this down market. Anyone who has the resources and knows what they're doing can still make money in the recession. In fact, the smartest will seize the opportunity to create even more revenue.
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Old 01-09-2009, 06:06 PM
 
Location: Middle Creek Township
2,034 posts, read 4,209,582 times
Reputation: 532
Quote:
Originally Posted by tlh1005 View Post
People are still buying houses, it's just the insanity of the past 5 years has gone. Some people still have good jobs, good credit, and a need to buy. People are sill having kids and need to expand or move up.

I don't think it's a problem to build as long as it's well planned. Prior to now, too many builders were just buying up land at any cost because they thought they could always sell a $450k+ home on it all day. Times have changed and the builders who were too greedy are suffering just like the mortgage lenders.

The other thing is that land is cheaper and there is probably cheap labor to be found as well in this down market. Anyone who has the resources and knows what they're doing can still make money in the recession. In fact, the smartest will seize the opportunity to create even more revenue.

Quality post.
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