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The population boom in the Triangle

willrusso

By willrusso
in Triangle Coffee House

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ChiefJoJo Town

ChiefJoJo

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N&O artilce on Chapel Hill and Carborro's expected growth to 2035... storing emplyment growth is predicted in Orange, but even stronger residential growth is predicted in NW Chatham, where recently weaker development regulations have been in place such that residential will vastly outpace employment growth.

It's an issue that Wake is going to have to deal with because commercial growth tends to pay it's own way through propoerty taxes, wheres residential growth demands schools, etc... it's a bigger drain on the tax base, one big reason many areas are trying to attract jobs.

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Jones_ City

Jones_

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I am confused by the 1.4K decrease for Fayetteville. Its obvious that with 168K Pop that it is reflecting the new Large land annex. I also thought that BRAC would really help their population. Chief...whats your take on this?
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ncwebguy Burg

ncwebguy

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I didn't see anywhere else to put this, so I'm putting it here.

An N&O article on apartments in the Triangle says:

- there were 3,102 new apartments introduced in the year ending Sept. 30, 86 percent more than the annual average in the previous four years. 2,563 of those were finished in the six months from March - September.

- The regional vacancy rate inched down to 8.2 percent at the end of September vs. 8.3 a year ago.

- Average monthly rent is now a record-high $800, up 5 percent in the past year.

Any fear I had of too much at once went away when I saw the vacancy rate decrease. But where has this been built? Brier Creek and Southpoint didn't cover it all.

Unfortunatly few, if any, of these apartments were in the downtowns. People aren't moving downtown not because they don't want to, but because it is a *lot* harder to watch Craigslist, etc. for someone leasing a house/townhouse/condo vs. a sprawling apartment complex opening up with easy access to 40/540/85/64.

With $800/month as the going average, cocktail napkin math makes more downtown apartment projects like 712 Tucker feasable. Hopefully this will move the rumored projects -- north of Seaboard Station, Gordon Smith's block east of Moore Square, and the apartment piece of the Edison, among others -- closer to reality.

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RaleighRob Burg

RaleighRob

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^ Yeah I saw that article and had a similar reaction. The first thing that came to my mind was: "if Triangle apartment business is booming so much, why aren't the downtowns benefiting from it?"

Everytime I see some thread or forum where people wonder if the housing slump will hurt downtown condo projects, I'm like "Hello?? Apartment business is booming...vacancies are down and rates are up. Just build 'em as apartments instead!" It ain't rocket science. :rolleyes:

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