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Urban Apartment Boom (Raleigh)


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I am very interested in a rendering. Oberlin is rapidly urbanizing so I am wondering if we will get a tried and true bland but popular-by-Raleigh-standards type place, or something more street hugging and eye catching. I didn't see a number of floors was proposed but once you get past stick built there is more chance for things like huge windows and adventuresome designs.

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Kudos to Raleigh and the Complete Triangle CSA for its impressive. I do hope Wake county passes Meck Co soon , so that can be put to rest, We have accepted that we will no longer have those bragging r

Metropolitan construction 11/30/16 (former Greyhound site)   {

Agreed on all fronts, but I wish they would start with some of the uglier buildings on the street with terrible urban form.. The buildings being replaced by this are not especially nice or distinctive

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  • 3 months later...

Some updates I've noticed around town:

South side of Tucker St between St Marys & Boylan: existing buildings demo'd and site work in progress

'St Marys Square': wall framing in progress on the lower floors.

Cameron Village Apartments (the Crescent?): wall framing in progress, almost back to grade at Oberlin.

Across Oberlin from Crescent: Majority of the lots are cleared.

Morgan-Hillsborough Circle: Wall framing might be topped off? (4 or 5 floors?)

Fairview Row (high-end condos at Five Points): 1 of the 3 sites has been cleared.

Question: 427 South Blount Street. Anyone know anything about this building? I noticed they put a new roof on, but windows are still boarded up on the upper floors. Seems like the top floors would be a good candidate to be converted to apartments.

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Recent updates:

  • Demolotion at 401 Oberlin is underway (perhaps complete by now.)
  • West Apartments goes before the planning commission tomorrow. It will be 7 stories (5 stories of apartments on top of a 2-story parking podium. Lobby/office space along West that could potentially be converted to retail sometime in the future.

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West Apartments seems pretty straight forward for approval. Any idea of groundbreaking if its approved tomorrow?

Also St Mary's Square apartments now has the stair tower at the North end of the building seemingly to full height - gives you a sense of how tall it will be along the Mr. Pizza (Peace Street) side.

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Some of these projects are coming along.

FMW at West/Morgan seems like it will be done first.

fmw1.jpg

The one retail space facing morgan seems pretty reasonable. But the other four on Tryon Hill and Wakefield seem to be really ... shallow. I have a hard time imagining what sort of uses could fill a space like this. I hope they don't wind up sitting vacant forever.

fmw2.jpg

Next up is St Mary's Square Apts which is putting up its wood frame now.

600stmarys.jpg

Next in the pipe is the Gallery at Cameron Village. I get that they had to dig a very deep hole for this one, but it still seems to be progressing very slowly. It's got a long way to go.

cameron.jpg

Next in line is 425 N Boylan which seems to be having some foundation work right now. I think this one will be all-concrete (which will be a welcome change from the typical stick built apartments we've been seeing lately.) After that is 410 Oberlin, which at this point is just a leveled lot.

Which one will break ground next is anybody's guess. There's Skyhouse, Edison, West Apartments, FMW Phase 2, Edison, Skyhouse, Valentine Commons phase 2 and 3, L building, Gramercy, Seaboard.

Valentine commons fits right in.

dhhill.jpg

Lastly an unrelated image. The Hampton Inn on Glenwood south is almost done. It's very blah architecturally but hey, another downtown hotel, I'll take it.hampton.jpg

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Other projects in the works:

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Other projects in the works:

 

The Stanhope Village project has one last hurdle to clear: city council. The planning commission was not unanimous in their support and they are extremely developer friendly. I am sure that at least some councilors will come out against it.

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Anybody know whats going on at the Starbucks on Peace St next to Mellow Mushroom?  Seems like they are doing quite a bit of demolition.  New project going in?  Or just major renovations?  If its just renovations, it'd be nice if they built the building out to edge of the sidewalk and had the main entrance from the sidewalk rather than the parking lot.

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  • 4 months later...

There's new site plan on City of Raleigh's Current Development Activity page for "The Lincoln".  Fills the entire (and currently empty) block bounded by E. Hargett, S. Bloodworth, S. East, and E. Martin. 

 

Some details:  224 units (172 1-bedroom, 52 2-bedroom), 70' building height, concealed parking garage, interior courtyard with pool, some of the ground floor units have access directly from the sidewalk, and JDavis is the architect.

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http://www.927westmorgan.com/Apartments/module/property_info

So did anyone see these price points coming? Low end is $2305 a month. For 647 sqft!

 I thought these were somehow supposed to be geared towards students or something....

 

Woooooooow.  And I thought the St. Mary's Square was listed high!  I did not see that coming at all!  Apparently only 26 units available according to those listings though.

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I cannot imagine anyone paying over $2000 for that location. I wonder what the other complexes coming online will charge? A quick look at craigslist shows a lot of better deals for rental condos downtown, including a 1025 sqft at PNC for < 1800.   

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Yes this rent seems high. 2305 for 647 sq ft .. in Raleigh? For comparison, the median size of a studio apartment in Manhattan is 550 sq ft and the median rent is $2300. (source)

 

The only factor that I can see justifying a rent that high is a tremendous supply deficit. They are trying to capitalize on the fact that they're they only complex right now ready for move-ins with available units. If that is the case, and they can actually rent their apartments at these rates, then there must be tremendous unsatisfied demand for downtown apartments, in which case we may in fact see a substantial number of the planned units actually get built.

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I noticed 927 Morgan rates on Craigslist for much less...more in line with the other places of similar quality downtown. I think OTSpazz is right, that either they were misquoted in the form of the wrong data sheet being uploaded or something. 

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  • 3 months later...

The 616 Oberlin and West Apartment II projects have shown up on the city's submitted site plan website - so this got me to thinking about all the proposed apartment buildings that have been announced recently or not started construction yet:

 

1307 Hillsborough -   160 units

616 Oberlin -             215 units

Lincoln -                   224 units

West 1 -                  150 units

West 2 -                   177 units

L -                            100 units

Skyhouse -                320 units

Edison -                    239 units

Link Apts -                203 units

Gramercy -                207 units

 

Total:  1,995 units planned

 

Any I left off?  Have any of these been officially shelved?

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Valentine Commons Phase II which is now being developed by Kane is the only one I can think of that you missed, and we don't know how many units that will have yet, but probably close to the 240 that were proposed by Valentine.

 

This is not to mention the numerous proposals in the Glenwood Avenue / Crabtree Valley area. Another one, 191 units at 2600 Glenwood (corner of Glenwood & Oberlin) also showed up on the Current Development Activity page. There are about 2500 units proposed or under construction up that way.

 

If anything, if all these units are completed, there's no way current price points will hold - it seems prices are already falling somewhat. If the prices drop, they may wind up competing with (and no doubt beating) some of the complexes down on Avent Ferry.

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