General Parking Discussion

Yes that is a different car in a different place. The BMW was parked in Raleigh, the Acura is parked in Cary.

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I actually like this color better on a car (maybe) :seafoam_green: but I would need to go into therapy to fully decide on that for sure. I wouldn’t, however, take a chance on buying one that color. I will stick with the white Acura.

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Seafoam and a Bradford pear…I can’t think of a better pairing of horrible choices…

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the economist in me cringes at the idea of free anything especially parking haha but i think you’re right. downtown could use this as an investment to drive business and foot traffic.

SUPER random idea and idk how it would work in practice, but what if there was a prepaid card similar to a metro card that frequent city drives could tap for easier parking payments. AND (and this is what i find exciting) it could also double as a bus card to pay for bus rides!… maybe, just maybe, that would get a few more people to try the bus system who otherwise wouldn’t have.

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You said “pairing” :laughing:

Sorry, never mind me.

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This is a cautionary tale from Atlanta about parking fees and restaurants. They have had a rash of closing and most blame the lack or cost or both of parking. That is why downtown Raleigh’s 2 hour parking program during the day is a good one. This issue is a problem in some areas of Charlotte and an even bigger problem in Nashville.
https://atlanta.eater.com/2025/4/9/24403249/atlantas-parking-problem-closing-restaurants

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I always feel like it’s less about parking and more about uncertainty. Most people here have driven their whole lives or been driven their whole lives at this point. We’ve been conditioned to want parking certainty when we go somewhere. Nobody wants to drive somewhere and not know where they’re going to leave their $40000 tool.

Most of my friends that come visit me actually visit downtown more often now specifically because they know where they’re going to park. And, since they usually visit in evenings, it’s usually free too.

This is a pretty good tool to help people find parking downtown if they want it.

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Big money in parking

Highwoods has listed their .68 parking lot with 56 spaces across the street from PNC on S Wilmington and E Market St.

Turned out to be a great investment given the NOI it produces and the initial purchase price:

2017 purchase for $1.88M
2024 NOI - $367,045
2025 List price: None given, but tax value is $11.33M

It’s zoned for 40 stories, but given the economic and construction headwinds, I don’t see this transacting for a while.

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Is it possible that they are listing it with a buyer in mind? Not likely, but not impossible.

A property is typically not publicly listed if a buyer is already secured. Large commercial real estate transactions follow a significantly different process than residential sales, often involving direct negotiations and a limited buyer pool.

When an owner wants to sell a $50M apartment building, they typically engage a firm like Colliers, CBRE, or Capstone to develop a marketing package and directly approach potential buyers. These firms earn a nice payday due to the relationships the brokers maintain, consistently engaging with institutional investors, family offices, and REITs capable of making such purchases. If a listing is made public like the 0.68-acre parking lot site, it often signals that the firm has already explored its network of qualified buyers and is now broadening its reach to try and attract interest.

The increasing number of publicly listed development sites with projected values exceeding $100M is a clear reflection of the stalled construction market and broader economic uncertainty. In a stronger, more bullish market, these properties are typically sold through silent auctions, where multiple bidding rounds allow sponsors to compete for purchase contracts. Under normal conditions, high demand drives engagement from well-capitalized buyers, fostering a dynamic free-market environment where efficiency, cost of capital, and investment strategies shape the outcome. However, due to ongoing volatility, construction challenges, stagnant rent growth, and elevated interest rates, many potential buyers are currently holding back, waiting for more stable conditions.

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Well watch the signs there is NOT unlimited FREE parking at North Hills or anywhere really in urban areas. I have not heard of these barnacles before.
https://raleighmag.com/2025/04/parking-enforcement/

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I have heard you can remove these things by running your defroster on high to loosen the suction, then slide a credit card under it to release.

Haven’t tried it. But worth a shot if you get barnacled.

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I’m ready to become Raleigh Mag’s biggest champion because of this article - I’m so tired of “it’s hard to park downtown/it’s too expensive to park downtown” as an excuse - I’m now expected to pay to park at places like the East End Bistrot shopping center on Whitaker Mill, and the old Capital Creations shopping center on Wake Forest…which is insane! And yet it’s only downtown that gets the “parking is expensive and hard” rap

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:popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn: :popcorn:
well, well, well…

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It’s only a matter of time until the goal posts move again and the narrative is “yeah but at least we can park right outside those businesses. DTR we may have to pay to park and walk far!”

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Looks like the state is raising prices for downtown state employees by $5/month to a max of $20/mo. Apparently, the rates haven’t been raised since 1979. They’re also going to start charging for visitor parking after hours, but open employee lots to the public after hours and on the weekend. More details can be found here if you have access to the N&O.

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Such a dumb change to charge visitors after hours. There’s thousands of spots that sit unused every day.

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My philosophy is: if you require your employees to come into work, you pay for their damn parking. Not the employee.

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I worked at Duke for several years, and by the time I left (11 years ago), parking in the parking deck closest to my office cost $110/mo. Now that is insanity.

They are doubling the parking fee on my campus to $100 a year, unless you have the uni vaniety plate, then it remains free!