Agreed. I worried about it right now!
Personally I think the downtown South location is just about perfect for what that development project is, which is essentially a sculpted master plan of an entirely new urban district that is in a much more urban location than North hills. The only issue, which we spoke about in person briefly, is the suburban affordable housing project between downtown South and downtown. However downtown South is looking like a 20-year project, and by that time I could see the development pressure being so high that that suburban model gets redeveloped and it all gets integrated into downtown via South saunders and Wilmington. In today’s context it seems like a threat to downtown, but in the long run I think it will just create more development pressure for the city to spread south. Also jumping over to the latest census data, the trailwood/Tryon/Avent ferry/Lake Wheeler area is one of the densest residential nodes in the city with tons of apartments that will all have access to downtown south via the greenway
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Not the DoSo thread!!!
“shadows”, etc for us down the street
Hardly anybody lives within half a block of this site, between the self-storage, the electric substation, and Heritage Park’s rec center. I guess the Fairweather might get some shadows in winter late mornings?
all those different centers of gravity pulled apart the urban experience in a way that a singular downtown wouldn’t
Ehh, Raleigh is a much deeper market than Columbia SC (so it can fire on more cylinders), and this is way closer than DoSo.
Though in the 2050s, people are going to wonder why there are so many 2020s buildings on one side of the street but not the other, and I’ll have to be the guy from the retirement home talking about the tax incentives we once had back in the day…
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Yeah, to try the “shadows” defense from where we are would be a serious stretch, especially given it’s south and east of us, so literally no shadows will be cast from that building to us.
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Quick update on the timeline from TBJ
$50 of the $121 million cost to come from CSRA Opportunity Zone Fund VI. Work to start next year.
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Are those the actually balconies. Good lord, those will decay in 36 months.
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WRALtechwire posted an article with more information about this development. This article puts the whole development into question the way they phrased it around funding.
“Capital Square, a Richmond, Va.-area company, opened a $48,451,000 fund, CRSA Opportunity Zone Fund VI, to raise equity capital from investors in order to develop the project at 320 West South Street”
The developer also made it clear these will be luxury apartments due to a lack of luxury units downtown.
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Nothing like owning a “luxury” condo overlooking one of the busiest intersections in downtown Raleigh (Western/SouthSaunders)… SMDH
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Yeah they f*cked up wit that one IMO. Especially considering the overall makeup of that edge of downtown…they prolly should’ve just built regular (non-luxury) condos honestly.
And the developer asking the federal government for Millions in exemptions because their project sits in an opportunity zone, then they send out requests for funding, the irony gets thic.
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Luxury now just means a piece of granite in the kitchen, a tile backsplash, and some nice furniture in the model unit… lol. Wonder if they’ll actually be luxury units, or “luxury” units.
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I’m probably in the very tiny minority but I love overlooking streets and just seeing the movement and ebs and flows
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Maybe I’m starting to show my age a bit here, but all that noise, noise, noise, NOISE!!!
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It’s a city! Lol I love the background noise of a city. But a bit confused that they’re calling these condos while TBJ called them apartments.
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Forgive my use of the wording “condos” this article says apartments numerous times, I adjusted my original post.
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That’s not how this works. Individual rich people get an automatic federal tax deferral for putting their own money at risk by buying shares in this company, rather than into the stock market or yet another software startup or whatever.
And given that high-rise apartments cost substantially more than low-rise apartments to build (about 50-100% more per square foot), the price tags also have to be high to recoup their construction costs. Every single apartment will cost over $400,000+ to build, so of course the rents are going to be high… “luxury” finishes add maybe 5% to the total cost, but are well worth it if the resulting rental rates are 10% higher.
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Yep I sometimes get um upset over traffic noise form US421 that is 2000ft below me and almost a mile away - ARRRRRRRRRRR 
This corner balconies . . . @softfurrykitty pointed the out earlier. I believe @John calls them lifeboat balconies. I am not really impressed by those. Still, these will be well out of my retirement price range so I guess I needn’t worry too much.
I with you @atl_transplant, when in town I like the hustle and bustle. Where I live now, its so quiet that we hear the plans over head approaching Atlanta 100 miles away!
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I am wondering if the term is just starting to mean new apartments that are not priced under market rate or subsidized in some way. When was the last market-rate apartment built that was not marketed as luxury? If the DHIC apartments were built to the exact same specs but by a for profit developer would they be called luxury?
There is some line out there where an apartment gets high enough finished that it really is luxury, but it is clear to me what that would be. Would actually be nice if there was some type of standard we could apply and see who makes it above or below the line.
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