Stanhope Village / Valentine Commons

[ctl]

The college condo was another manifestation of the residential real estate bubble. If one makes the assumption that the market value of a college condo will always increase, then it's easy to get a loan, buy the condo, let your son or daughter live it for four years, sell it for more than you paid for it, and pay off the loan. Everybody is happy, especially the banks who churn the loans every four years. I suspect that during the madness years, some banks would finance the purchases with interest-only loans. The bubble did eventually break but the underlying scenario is alive and well. 

[Euphorius]

Looks like CVS will be one of the tenants in the new Stanhope building. It's mentioned at the bottom of this article that was also posted about Sam&Wally's closing. http://www.newsobserver.com/2014/12/18/4414172/retail-downtown-raleigh-staple.html?sp=/99/104//

[orulz]

IHOP is moving up the street from 1313 Hillsborough to the Stanhope Apartments building. So now we know two of the retail tenants. This will potentially clear the way for FMW's next development as well.

[JeffC]

The only reason people ate at that nasty IHOP was it's retro 1950's feel (since the building hadn't been changed at all since it was built).  I bet it won't last three months in the new location...There are plenty of new IHOPs in the burbs (Celebration at Six Forks and Capital Blvd to name two) for the rootie-tootie fresh and fruity crowd to get their fix.  Where will the downtown drunks eat at 3 am now?

[Euphorius]

I've never heard a single person say they wanted to eat there because it was in an old building. They will still be in a location close to 40,000 college kids. Something is seriously wrong with their business if they can't make that location work. 

[RALNATIVE]

I've never heard a single person say they wanted to eat there because it was in an old building. They will still be in a location close to 40,000 college kids. Something is seriously wrong with their business if they can't make that location work. 

 

I 100% agree. Any restaurant, let alone a place that stays open late, should do extremely well being practically on a college campus and adjacent to campus housing.

[DPK]

The only reason people ate at that nasty IHOP was it's retro 1950's feel (since the building hadn't been changed at all since it was built).  I bet it won't last three months in the new location...There are plenty of new IHOPs in the burbs (Celebration at Six Forks and Capital Blvd to name two) for the rootie-tootie fresh and fruity crowd to get their fix.  Where will the downtown drunks eat at 3 am now?

 

I've eaten there dozens of times, most of which was during my time at State years ago.  It being an old building was never a factor in anything.  I wanted cheap food and I wanted breakfast.

 

The IHOP is going to make a killing even more so located near campus.

[DanRNC]

Dern Bubbas need their food like mama used to make.

[orulz]

I've eaten there dozens of times, most of which was during my time at State years ago.  It being an old building was never a factor in anything.  I wanted cheap food and I wanted breakfast.

 

The IHOP is going to make a killing even more so located near campus.

Agreed. My experience mirrors yours. 19 year old college student (aka generally not old enough to be truly jaded), up at 3am, getting hungry, looking for cheap eats. Where do you go? IHOP. Would have gone much more often while living in the dorms if it was a shorter walk.

[RALNATIVE]

Agreed. My experience mirrors yours. 19 year old college student (aka generally not old enough to be truly jaded), up at 3am, getting hungry, looking for cheap eats. Where do you go? IHOP. Would have gone much more often while living in the dorms if it was a shorter walk.

 

That IHOP reminds me a bit of Timeout in Chapel Hill which was the go to place for UNC students with latenight hungers. These types of places always do well, despite their appearance.