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It's a reflection of the reality that many of these downtown condo projects were pitched to people over 40 who have accumulated enough wealth not to blink at the prices. Right now there's a Dawson unit on the market at $849K and PNC units at $729K, $499K, and $349K. Yes there are under-40s who have that kind of money (or enough annual income to qualify for that large a mortgage these days), but there aren't as many of them as over-40s. But the the over-40s and especially the over-50s don't like the partying. I'm not arguing who's right and who's wrong, but I can see how it happened.

Edited by ctl
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As an over 40 who feels like he played a big part in bringing downtown back in the early 90's when there were like 5 places to drink and perhaps 200-300 total people spending their money at these places, I'd like to point out a big missing piece in this conversation and that is all nightlife isn't the same. There is a huge difference between places with 50 people waiting in line to get to drink vodka and red bull all night only to later hurl all over the stair well of a parking deck, and places where half the patrons live within say two miles of a place, sit around tables and drink pitchers, maybe raise some mild ruckus within the place, but mostly act like civilized alcoholics and treat the bartenders well, don't hit on your girlfriend while your taking a leak and essentially just chill the f&*^ out. Getting crap storm drunk on Friday and Saturday is so so different than drinking 2 drinks 5 days a week. So its not Mayberry vs trendy f*&$-os that 'get it' and think like a modern person. Its this massive concentration of people who party like a bunch of amateurs mixed in with people who thought Raleigh was aiming to be like say Brooklyn, or downtown Seattle or Austin, etc etc. The people who aren't invested with property in the middle of the weekend crap storm now hang out on the fringes at bottle shops, and good but expensive places to eat. What I call the 'shiny shirts' will chase the next "hot spot" new shiny bar that opens into eternity. This is not a way to create a sustained, active, livable downtown. This is how you run down strip after strip....with people who don't live anywhere nearby pissing in your flower bed, kicking over your garbage cans, crying on the sidewalk outside your bedroom window, leaving bottles in your front yard and not caring a f&*( about it the next morning. Yes, there is a lot of basis to complain. But also, yes, people should have expected the amateurs weekenders to come ruin things. 

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Another issue is that Raleigh is the closest major city to eastern NC. As we all know, there aren't many opportunities for good jobs in those areas, as well as nice places to have a good time on the weekend. This leads to a lot of rural eastern North Carolinians coming to Raleigh to live and party on the weekends. Most of these people don't immediately fit in with the more urban types. It's a reality that both Atlanta and Charlotte have struggled with.

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Finally, RUS parking deck:

http://www.newsobserver.com/entertainment/arts-culture/article51319470.html

.....

"A pocket park and vestibule, carved 40 feet by 60 feet into its southwest corner, addresses a new civic plaza across West Street, adjacent to the four-level Union Station designed by Raleigh’s Clearscapes. Along its pedestrian level, 25,000 square feet are reserved for restaurants and retail space – with expanded sidewalks.

Its podium – a seven-story parking deck, its 980 spaces to be shared with the city and Union Station – will be a base for 10 more levels of offices......"

 

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Quite a bit construction work starting up at the Union Station.  Also, I noticed the two warehouses to the south of Bloomsbury Estates looked like they had some demo activity going on, and wonder if it has something to do with this... http://www.bizjournals.com/triangle/blog/real-estate/2015/06/eminent-domain-for-raleighs-union-station.html

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Fascinating. I checked the public material on the NCDOT website for the RUS project, and I compared those to the boundary of his tract in iMAPS. One of the warehouses actually sits on railroad right-of-way, according to iMAPS. I can see why NCDOT wants it gone. The south-facing wall of the other warehouse appears to be right on the property line. I can see how that causes a problem, too. RUS would force the ex-Seaboard freight track to be shifted slightly north, even on the west side of S Boylan. On the other hand, I have a hard time understanding why NCDOT needs almost half an acre for that. 

Edited by ctl
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1 hour ago, ctl said:

Fascinating. I checked the public material on the NCDOT website for the RUS project, and I compared those to the boundary of his tract in iMAPS. One of the warehouses actually sits on railroad right-of-way, according to iMAPS. I can see why NCDOT wants it gone. The south-facing wall of the other warehouse appears to be right on the property line. I can see how that causes a problem, too. RUS would force the ex-Seaboard freight track to be shifted slightly north, even on the west side of S Boylan. On the other hand, I have a hard time understanding why NCDOT needs almost half an acre for that. 

New grading and shoring specs perhaps? I'm surprised it isn't more eroded than it is with a surface parking lot running right off the edge. 

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1 hour ago, ctl said:

Good points, and I think NCDOT/NCRR also looks to the future when they might require the entire width of the RR ROW at that point. 

^ This. NCRR has been very aggressive about rectifying encroachments on its ROW over the past five years.

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Well, this is slightly off topic, but with all that ROW being taken I think John Bruckel (Bloomsbury condo developer) should just buy the Boylan Bridge site from Andrew Leager and build say a 4-5 story condo there with ground floor retail (brewery) space. win-win-win. 

Edited by Jones_
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11 hours ago, Jones_ said:

Well, this is slightly off topic, but with all that ROW being taken I think John Bruckel (Bloomsbury condo developer) should just buy the Boylan Bridge site from Andrew Leager and build say a 4-5 story condo there with ground floor retail (brewery) space. win-win-win. 

Not a bad idea.  But BBB announced over the weekend that structural engineers have come up with a solution and they will rebuild the collapsed wall and patio.  Hopefully he can still move forward with his plans to turn the space into a distillery?

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According to IndyWeek's blog of the City Council meeting last night, the project has incurred another $5 million in overrun arising mainly from contaminated soil, contaminated water, and up to four feet of coal that they didn't know of. There was only a $3 million contingency, but so far the project managers have found a way to cover the delta. "Substantial completion" (what?) is now projected for November 2017. Stay tuned.

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Large capital projects typically have two dates to establish at their conclusion. Substantial completion is when the owner receives beneficial use of a facility and the warranty period kicks in. Final Completion is when the punch lists are 100% complete, liens are waived, the surety consents to final payment and everyone can finally go home happy. 

As an aside, its kind of piss poor that some (or more perhaps)test boring wasn't done up front instead of just dig and see what you find. This is how contingency budgets get blown. It'd be better to know whats there up front, and have people bid on it to keep the cost of remediation down some. As is, the contractor can inflate these costs a little above what he would have bid to have it taken care of. I am sure the City contracting office can't get their own sub out there fast enough (to save a little tad of money) without further blowing the completion dates. 

Interesting to me, is that coal was probably laid there before the streets at West and Martin were raised up to their current level...the substantial street raising being evident by the stream culverts they found 10 feet below grade made of chiseled granite/quartzite. Imagine how dirty Rocky Branch was with coal laden rain water washing down after every rain event...

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