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712 Tucker


c_harmons

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I have it on good authority that a new project will be proposed for the Glenwood South area in the next few weeks.

It will have close to 200 condos!

I have heard the goal of the project is to be able to offer condos from $150,000 and up.

I don't think it will be high-rise because it is close to St. Marys.

But this could be huge for Raleigh.

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Yes, it is a redevelopment.

I think the City is actually having a hard time figuring out how the code would allow something so big. Supposedly the City has a limit of 50 units to the acre and nobody ever changed it.

Hard to imagine Raleigh can get high rises until that ordinace is changed.

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  • 1 month later...

I now understand that it is Crosland that is hoping to propose a residential building at the old Raleigh Office Supply building. That is at Tucker and St. Marys, a block over from Glenwood South.

Crosland is the company developing Oberlin Court over on Wade Avenue. I heard they are trying to propose a 200+ unit building and have a mix of for-sale and for rent. But they are trying to keep the for sale "affordable" Like $200,000. Supposedly it will not go above 5 stories because they want to keep the pricing from going up to $350,000 per unit like the other projects nearby.

I hope they will officially announce something soon! That many residential units that close to downtown would be a great addition.

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  • 3 weeks later...

Running late for work this morning, I didn't get to read the N&O at home with my brekfast. I scan through the online version and came across the article below which talks aboutplans to build about 200 apartments or condominiums and a parking deck on vacant Raleigh Office Supply property near the Glenwood South.

The project would be on about 2.5 acres at the northwest corner of Tucker Street and Boylan Avenue and rise about 5 stories. The group initially would try to sell about 50 units and rent the rest, he said. It would then gauge interest before selling more units. The group is expected to eventually sell all the units.

I believe that thee have been a few previous posts about a large development in this part of town but these may be the first public details.

News and Observer Article

Related Thread ?

JB

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  • 3 weeks later...

Just so we're clear, this thread has been hijacked by discussion of 222 Glenwood.

The Raleigh Office Supply property at Tucker and Boylan (the original subject of this topic) has not been officially announced and there are no renderings for it.

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  • 4 months later...
I really like the courtyard spaces created by this condo project in the rendering. Those would definitely complement any street level retail.
I think this is an all-residential project? If there were any retail, it would probably just be along the Boylan Avenue side, but all-residential is fine with me. I'm perfectly content to let Glenwood and Peace be the commercial corridors for the area.
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I am familiar with this project and they are not proposing retail. There is an existing restaurant on St. Mary's adjacent to the project (I think it used to be a seafood restaurant but has changed since). Plus I think the small stormwater creek running along the back of the project is forcing the first floor to be raised a few feet above the street for flood reasons.

But what excites me the most is they are trying to keep the condos between $125,000 and $300,000. They said they need to stay below 5 stories to make those sales prices realistic. And I think Raleigh desperately needs to provide that type of housing, as those of us that really frequent Glenwood South the most cannot afford the current supply of condos.

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But what excites me the most is they are trying to keep the condos between $125,000 and $300,000.
If that's the case, this is one of the few condo buildings in Raleigh not billed as a "luxury" project, and certainly the first in Glenwood South. But no "luxury" might mean no marble countertops! Who's gonna buy crap like that?

:rolleyes:

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I don't know a lot about building costs and how they affect the price of individual units, but it seems to me that if developers purchased a smaller plot of land and went taller with the structure they could offer reasonably priced units. Does anyone have any insight on this?

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I don't know a lot about building costs and how they affect the price of individual units, but it seems to me that if developers purchased a smaller plot of land and went taller with the structure they could offer reasonably priced units. Does anyone have any insight on this?

Land prices certainly are a part, but the biggest part of any budget is construction costs. 5 stories and below one can try and stay around $100 SF. Mid-rise, 5-8 stories jump to $180-$200. And even higher for high rise. But all those numbers are probably low now because construction costs have been skyrocketing recently. I am actually fearful a lot of proposed projects in the Triangle will be delayed because the uncertainty of costs.

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This project is in the 500 block of Boylan Avenue. Paramount, Glen on Peace, and Boylan Flats are on the 600 block. You know where 510 Glenwood and 222 Glenwood are :)

So, this project is two blocks west and three blocks north of 222 Glenwood Avenue.

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This project is in the 500 block of Boylan Avenue. Paramount, Glen on Peace, and Boylan Flats are on the 600 block. You know where 510 Glenwood and 222 Glenwood are :)

So, this project is two blocks west and three blocks north of 222 Glenwood Avenue.

cool deal; thanks

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