Different property - the free market also dictates whether an altruistic nonprofit becomes a land obtaining, rezoning capitalist. 
1 Like
not even close to the same comparison. a non-profit is just that ānon-profitā and yes, they can acquire whatever they want if they have the capital. The fundamental difference is they do not have a component to return a maximum profit, like the private sector. If they can compete and acquire land in a market driven world, so be it. My issue is with politicians forcing a private developer to include affordable components even though those same individuals have no real financial stake in the development.
1 Like
@UncleJesse Correct. Whoever did the layout of that story with the N&O should be taken to task since the lead photo is not the site in question. Further in, it goes to elucidate the site as being in east Raleigh.
That area has a large mix of institutional use with Holly Hill being directly across the street. An upside, is itās proximity to a lightly used section of the Capital Area Greenway which runs behind Holly Hill. And, itās walkable to two other large employers - WakeMed and Wake County Human Services. The GoRaleigh 19 line also stops there as well which connects downtown via MLK Blvd.
6 Likes
Everything that the government spends money on can be considered social engineering. This includes freeways, and other things that people who usually say āsocial engineeringā as either a dog-whisper or pejorative, tend to like/enjoy.
8 Likes
Out of curiosityā¦ is the city also forcing Kane to put in affordable housing units in his āWalterā building in North Hills? Or just the units in the proposed Smoky Hollow Phase III?
3 Likes
Only Smoky Hollow, but he did not have to get a rezoning for the Walter as it was already a part of his approved North Hills plan.
3 Likes
The N&O has a really, really bad habit of selecting featured art that shows a totally different area than the area the story is about. Interestingly, this proclivity is especially pronounced when the story in question deals with Southeast Raleigh. I wonder wonder why exactly that might be.
This just dropped out of the blue. It was sad seeing Milner Presbyterianās congregation fold. And, I thought it was going to be a viable home for Edenton Street Methodistās Southeast Raleigh Table. But, to see it all demolished and reborn as senior affordable housing is something I hadnāt predicted.
https://www.newsobserver.com/news/local/article238291453.html
5 Likes
Thatās really good news and exactly what the New Bern BRT was made for. High density housing on the corridor.
4 Likes
This is terrible news. What a waste of a great parcel that could be developed with higher density. Why does the entire thing have to be ālow incomeā? It will hurt everything around it as a result. Canāt you build a mixed income project and provide the same amount of āaffordable housingā commingled with market rate? The minute you build a āsingle purposeā (ie: 'Low income" anything), it runs everyone else around it off who might otherwise develop higher end, higher quality product. If you can blend it all into a single massive project, then nobody can label the building ālow incomeā. Why is this so hard to understand? I swear, Raleigh canāt get out of its own way.
Why do we continue to feel that low income have a god given right to the most valuable real estate?
2 Likes
Darn those poors! Ruining everything with theirā¦lack of things!
6 Likes
Nobody is bashing poor people so please step down off the soapbox. What Iām saying actually matches with reality. I develop real estate so I can tell you with an actual basis in reality. Capital investment doesnāt follow poor people. Instead, Iām proposing a win-win for everyone. Instead of building a single use building in a potentially prime redevelopment corridor, you develop a āmulti-useā project where poor, middle income, and wealthy can all co-exist. (Iām under no illusion that many wealthy may choose not to live near poor people, regardless). However, if you can blend affordable housing with market rate housing, you can āhideā the stigma associated with low income. You donāt immediately decrease the market value of all the adjacent property like you will by building a single use ālow incomeā ā¦āprojectā. You may not like my using the term āhideā but letās call it like it isā¦
6 Likes
Do you own this property, UncleJesse?
2 Likes
you point?
I do own property near here for what its worth. Again, I know what i"m talking about. Iām not just preaching some bleeding heart nonsense that doesnāt match with reality.
You can bash me all you want as some insensitive capitalist but I can actually speak from experience
1 Like
Yeah Iām going to stop this conversation now due to forum decorum. Bless your heart.
2 Likes
You should really continue to engage so that we all see the two perspectives. I see @UncleJesse ās experience and history as reality. Donāt stop the conversation, share more of your perspective.
2 Likes
The reality is this property is owned by Presbytery of New Hope and they have decided to lease this land to DHIC for affordable housing development. A lot of it. Presbytery of New Hope is a non-profit church organization and this is their land and they can decide to do with it whatever (within the bounds of their tax-exempt status).
Iām not sure what people are struggling to understand, a church doesnāt care about fancy development but housing people in need (in this case).
It turns out this aligns with our need for high density development along this corridor.
Guess what theyāre building next to the Alamo Drafthouse plaza? 5 high-end single family houses right on New Bern and Farris Ct. The private market has spoken and itās low density, car-oriented.
And thatās all I have to say about that.
7 Likes
I am with you. There have been lots of conversations on here about how it is āso crazyā that people want affordable housing downtown, and it is often mentioned that it can be further out next to public transit. That is exactly what this this is. Our new council is going to have a hard fight to 1. Get BRT done well and 2. Get the zoning around the coordidor upzoned to get us the density we need for transit.
Every community meeting I go to about BRT has lots of people afraid that there will be no affordable housing. This is a great thing to ensure that we do have actual affordable housing on the BRT and also give the city some room to upzone the non affordable stuff. Looks like a great win win to me.
10 Likes
ā150 apartments for low-income seniors on the 4.6-acre Milner siteā
There is just no way that kills the development potential of a cooridor getting the most public transit investment of any area in the history of Raleigh (union station is not a cooridor). Property values around New Bern are going to see immense pressure upward and this is a drop in the bucket. There is a lot of affordable housing for seniors on Glenwood South and it seems like things are going fine there.
8 Likes