Charlotte/Raleigh Highrise Building Booms

[carolina1792]

Another Raleigh mid-rise project potentially moving forward. City of Raleigh RFP'ed a mostly underused downtown city block for redevelopment. About 4 proposals were submitted.  All proposals included affordable housing and entertainment amenities/retail. 

The City of Raleigh just voted to move forward with the project below. The scope and renders may change*. 590 apartment units (160 to 190 will be marketed as affordable housing), 135 room hotel, 22,000 sq. ft. grocery store anchor, retail space, Raleigh Rescue Mission will get a new home on-site. 

The 30-story VeLa Longview tower is being built nearby so it won't be out of character to build a tower here. 

[jthomas]

22 hours ago, carolina1792 said:

Another Raleigh mid-rise project potentially moving forward. City of Raleigh RFP'ed a mostly underused downtown city block for redevelopment. About 4 proposals were submitted.  All proposals included affordable housing and entertainment amenities/retail. 

The City of Raleigh just voted to move forward with the project below. The scope and renders may change*. 590 apartment units (160 to 190 will be marketed as affordable housing), 135 room hotel, 22,000 sq. ft. grocery store anchor, retail space, Raleigh Rescue Mission will get a new home on-site. 

The 30-story VeLa Longview tower is being built nearby so it won't be out of character to build a tower here. 

That's a nice mountain range in the background - I hadn't noticed that on my previous visits to Raleigh...

[Mid South NC]

Still banging out towers at North Hills as if the U.S. economy wasn't already  in free fall. #Vision #JohnKane #RTP #RDU 

[tozmervo]

1 hour ago, Mid South NC said:

Still banging out towers at North Hills as if the U.S. economy wasn't already  in free fall. #Vision #JohnKane #RTP #RDU 

Did I miss a memo about the US Economy? 

[Phillydog]

The pundits are going to talk us into a recession -- and the financial wizards won't be happy until people are unemployed and wages fall.  Just my opinion.

[Mid South NC]

On 12/20/2022 at 12:43 PM, tozmervo said:

Did I miss a memo about the US Economy? 

Just remove the blindfold  as the true indicators are everywhere. 

[AirNostrumMAD]

55 minutes ago, Mid South NC said:

Just remove the blindfold  as the true indicators are everywhere. 

What specifically? 

[Matthew.Brendan]

https://markets.businessinsider.com/news/stocks/blackrock-recession-warning-stock-market-analysis-2023-economic-outlook-2022-12

[AirNostrumMAD]

1 minute ago, Matthew.Brendan said:

https://markets.businessinsider.com/news/stocks/blackrock-recession-warning-stock-market-analysis-2023-economic-outlook-2022-12

Haven't we known that was inevitable upon reemergence from Covid? The economy shuts down, supply chain issues, etc. led to inflation and the Feds are trying to cool it by raising interest rates. Is that basically what the article says? 

[Matthew.Brendan]

FDIC probably knows more than I do about these things. I don’t even know how to properly contextualize this information. but that’s the beauty of raw numbers and  charts. even I can see that certain things are way out of wack.

The point being we are in “uncharted territory” to use a cliche phrase when it comes to the economy.  There’s lots of moving parts beyond just the interest rate / housing market at play. 

[tozmervo]

On 12/29/2022 at 3:09 AM, Matthew.Brendan said:

FDIC probably knows more than I do about these things. I don’t even know how to properly contextualize this information. but that’s the beauty of raw numbers and  charts. even I can see that certain things are way out of wack.

The point being we are in “uncharted territory” to use a cliche phrase when it comes to the economy.  There’s lots of moving parts beyond just the interest rate / housing market at play. 

This is way out of my field, but paper losses only matter if financial institutions need to start selling securities to make up for a money shortfall elsewhere. Unless someone more savvy in the industry can chime in, my impression is that most of the major players in finance are in strong financial positions right now and won't need to fire-sale securities anytime soon, barring some other insane crisis.  Recession? Sure. Free fall ala 2008? That seems more far-fetched.