Yeah saw that, but 10 stories vs 40 ?
30+ story condo and apartment building 
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Yeah and what if the glare from the building distracts the driver of the train below, and it derails??
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Yo Piggie, I never said jack about shadows or glare or whateverâŚWas just curious and noted how this group had executed projects previously on a smaller scale ( coupla 3 stories and a 10 story dev, although the Philly project is nice) and are now taking the big stepâŚ
I see a bunch of smoke coming from those pipe dreams�
It does appear that they like to build and hold investments, so thatâs promising ( if you like apartments).
Just seems a large jump in height versus their portfolio.
condos condos condos condos
(complete sentence requirement satisfied)
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Sorry, I was just making a joke about one of the planning commission meeting comments recently. Nothing against your post. I just picked one to reply to.
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Looks like it got hit with the âadditional materials requiredâ
https://community.dtraleigh.com/t/the-raleigh-wire-service/748/2221?u=oakcityyimby
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âWell, yes, if we get the 40-story rezoning, it will obviously require additional materials to build that tall.â
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Once this is sorted out, Iâm very excited to see the plans for this site.
I think itâd be neat if someday 2-way traffic is routed down Edenton, and Hillsborough St. + the little triangle lot become a nice park or something. Could help drive foot traffic to the retail spaces at this new development. Kind of in an awkward spot along Hillsborough St.
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And it was supposed to be âunder reviewâ until⌠yesterday (14 June). So hopefully weâll hear something else soon.
The developer here, Dalian Development, is operating through a layer of LLCs, which seems to be standard practice. Dalian is somehow related to CloudHQ; I canât get their list of officers without paying (which is bs) but their accountant of record is the CFO of Cloud. The LLC here is Hennepin Ventures, although itâs controlled by Hennepin Interests, and theyâre both registered in Delaware which might as well be Luxembourg or Jersey in terms of how much information you can actually get about them. (Delaware pisses me off.)
Anyway itâs still listed on Construction Journal as expected to start construction this fall. Not sure if the project is really going to change regardless of the rezoning.
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High interest rates are the reason why this project didnât go up in 2023 (and many others) and the developer is seeking the 40 story rezoning for more flexibility, according to Tuesdayâs city council meeting.
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Not sure if this was posted yetâŚ
Raleigh approves 40-story zoning for another site on Hillsborough Street
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I am just going to one if the city of Raleigh approved the 40, stories doing they sh to chop it of with 30 stories scale that would be fair at allâŚ
If the approved plan is more than 301 units, the company must contribute the $180,000, and an additional $40,000 per unit above 300.
Are we sure that number in the article is correct? $40000 per unit seems insanely high. That would mean, if they hit 808 units, the max allowed number of units, it would be $20 million to the affordable housing fund.
If so, I really hate how weâre disincentivizing more units. This is a good way of getting exactly 300 units. I get wanting affordable housing contributions, but asking for $20 million to go to max potential is such an asinine way to do it and hurts everyone. Keeps supply low, means less tax contributions to the government, businesses around the development have less customers, etc.
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Itâs $40k per unit for 1% of all units over the initial 300. So if they build 400 units, 400-300= 100; 100*.01= 1. So an additional 40k. Or, using your example, 808-300= 508; 508*.01= 5.08. An additional 200k.
Just clarifying the math. Not giving my opinion on the condition. 
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Ah, it sounds like TBJ wrote it out wrong. The way they wrote it made it sound like it was 40k per individual apartment:
If the approved plan is more than 301 units, the company must contribute the $180,000, and an additional $40,000 per unit above 300.
Wish I knew how to ask for a retraction/correction
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To be fair, the staff presentation had it written incorrectly, too. I had to go back and pull the actual written conditions to confirm.
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The 40 story rezoning for this project was approved by a vote of 6-1. I always thought that the old plans for this were not ambitious enough for the location.
Sounds like there arenât any specific plans, just that âthe company believes there is significant interest for a building taller than 12 stories in this part of downtown.â
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This will be game changer for Raleigh and legends go up for 30 stories and having stories, an 501 40 stories high rise
I mean letâs all get something straight here:
This is a 40 story rezoning, but:
- There appears to be no publicly announced concrete plans to build anything yet
- Regardless of whether and when those plans are made public, in the end it will not be 40 stories. It will either start at, or eventually be downsized to, 23 stories, like everything else in this city
- That will actually be JUST FINE.
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