What’s the issue?
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This is why we need to listen to them. We don’t understand. I agree with @Marianna. They need a seat at the table so we can hear them.
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In regards to rents. Dumont properties just gutted and renovated a 675 sq ft 1930s? house next to me. They did a complete gut. Down to the studs. New hvac, plumbing, electric, insulation the works. Even raised the foundation almost 2 feet. And did a very good job in my opinio, I was worried as house had been empty 5 years. For 2 bed, 2 full bath they are asking $1595 a month. To me it’s a crazy amount for 675 sq ft but rented within 2 weeks. I bought my home 12 years ago and you don’t want to know the deal I got. But my mortgage is a lot less than that rent I’m not bragging. I KNOW I lucked out, buying before downtown became IT.
As someone indicated the market will determine the price. One other thing, in 5-10 years, those brand new apartments getting $1k-2k a month may drop in price as they become worn.
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Sounds exactly right. This area is already within the crosshairs of gentrification, whether we block DTS or not. Blessings to you and happy holidays!
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Damn that’s huge money for 675 square feet. Also, how friggin’ small are those rooms to be able to get 2/2 in that tiny footprint?
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If someone rents that place for $1600/month I will question their sanity.
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No please no crazy neighbors. 
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Purchased final piece of land for Downtown South. Could begin phase I in 2021.
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This Is Great News To Start 2021 ! Happy Happy ! 
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They’re drumming up anti-development non-sense on Nextdoor. Including dishonest description of TIG as a direct handout from the city. Stef loving the attention she’s getting on there.
That website is the NIMBY Version of Parler!!!
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Yesterday, City Council met and discussed (among other things) a draft policy on tax-increment grants (TIGs), that public-private partnership mechanism Kane wants to use for Downtown South but doesn’t exist yet in the City of Raleigh.
Click here for a quick refresher on what TIGs are!
TIGs are a new-ish way that cities can encourage developers to invest in projects that they may not do otherwise. Unlike the more popular TIF, taxpayers aren’t at as much financial risk.
Why is it less risky for taxpayers (at least in my eyes)? That’s because a project’s developer enters a contract with the city to make certain investments within the project area, and the developer gets reimbursed up to 75% of the rise in property values goes back to the developer. This means the public benefits of a project comes before developers’, and a new project that turns out to be a disappointment won’t be as painful to the city’s bottom line.
For example, let’s say DTS gets approved, and Kane enters a 10-year-long TIG with Raleigh where he’ll create enhanced greenways along Walnut Creek etc. If the city designates the DTS site as a Priority Area and its annual city property tax jumps up by $10M due to the land becoming more valuable, Kane’s company could get up to $7.5M refunded annually until the end of the 10 years. After that, the city gets to tax Kane for the full $10M every year.
One of the reasons why this policy has been taking so long to make is that this new TIG policy is being created for the whole city -not just Downtown South.
Links to: memo describing the draft policy / the draft policy / slide deck presented in above video
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Take this as the sarcastic comment as it’s meant to be…
But nextdoor seems as toxic a platform as Twitter, but It’s just the “ladies who lunch” crowd.
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It’s way more toxic than Twitter, and I’d call it triggered NIMBY’s who lunch.
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As a resident near North Hills, I see a lot of anti-development and especially anti-Kane nonsense on ND, and so much of it is so over the top and misinformed, there’s really no point in engaging in any discussion. Although I do have some sympathy for those who may have lived right on St. Albans for decades and now live next to giant buildings, most of the ranting is classic knee-jerk NIMBYism. I generally stay away from ND but it can be useful for selling/giving away stuff.
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I am sure those homeowners are crying all the way to the bank over their property values which are astronomically spiking way out of proportion with region-wide appreciation
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