Wouldn’t that also mean that converting the land to the more dense zoning increases its value per acre? This is what I don’t really get about the opposition to more dense zoning on the grounds it protects property value for the landowner.
It seems to me that you would want more density not less if that is your goal.
Did they publish the data on tax valuation per acre?
Source: https://community.dtraleigh.com/t/the-raleigh-wire-service/748/1994
New Site Review Case
Barksdale Townhomes / 528 Barksdale Dr, ASR-0075-2022
Status: UR
URL: https://cityofraleigh0drupal.blob.core.usgovcloudapi.net/drupal-prod/COR15/ASR-0075-2022.pdfSee status abbreviations and sources at the topic’s header.
A single-family home becomes seven townhomes near Gateway Plaza? Heck yeah, inject this straight into my veins.
Holy cow… The things you can do now (I think) with missing middle near frequent transit
R-10 & 0.48 acres site.
.48 AC lot/house purchased @ $440K in 2021…becomes…infill stacked milk cartons x3 the height of the neighbors…Here’s the perfect foil for the discourse over the missing middle.
Do these townhomes all drop at $400K? >$500K? More…?
Change has been slowly bubbling into this cool little neighborhood…here comes the flood…
Same design / builder did renovation across street at 519. Bumped the SFH property eval up to $600K.
Wow, that’s awesome. Woodcrest has so much potential as Oakwood and Mordecai get more and more expensive and price middle class buyers out.
The alternative is that each of those seven families moves into an existing single-family home that used to be somewhat affordable until it was flipped. At least now they’ll all be gentrifying the same lot instead of seven different ones.
I say this all the time, but people are moving here regardless of what and where we choose to build. We can either build denser housing and slow the sprawl, or we can continue at a one-for-one displacement rate and push lower-income families into the exurbs at breakneck speed.
Take a look at recent new-home sales in South Park for comparison.
Old UDO, single-family teardown houses:
537 Bragg: $750,000 for 2330 sq ft
1107 S Blount: $691,500 for 1710 sq ft
New UDO:
400 Bragg: $399,000 for 1030 sq ft (tiny house, legalized by TC-6-21)
1412 Sawyer C10: $510,000 for 1748 sq ft (townhouse, legalized by TC-5-20)
Old houses:
1117 S Blount: $210,000 for 768 sq ft (unrenovated, no photos!)
925 S East: $430,000 for 1029 sq ft
New MMH will always be pricier than older housing; otherwise, there’s no profit in building it. But it’s less pricey and displaces fewer people than the alternatives - i.e., teardown SFH or flipped houses, where every new household necessarily displaces an existing one. Legalizing more units means that neighborhood change (which will happen regardless!) can be a positive-sum, rather than zero-sum, proposition.
Oh, totally agree - in fact, I was saying this is a domino… Absolutely on board with densification and understand that buzzwords pro and con will be thrown around.
I’m simply intrigued by where the townhouse pricing lands and the sea change that comes with the variability in building form that comes through the changes to the UDO. Popcorn ready.
Are they being pushed out or did they sell these properties for a great profit and move on to better pasture. Serious question, I would love to know if these folks owned and sold or rented and the owner sold. Be interesting to see.
Well, this one specifically looks like the long time owner passed and the estate sold to current owners who will be flipping to towns…
just curious…the malls in raleigh seem to be changing. Cameron village…taller buildings surrounding it, north hills…much more densified, crabtree valley i think is being looked at as being converted and altered to be more mixed use. could triangle town be next on the block for more reasonable priced exurb dwellings and more mixed use usage and development?
Supposedly, the City wants to do just that, but I think I’m gonna be old before it comes to fruition.
At some point, that mall is just going to be razed and replaced with something. There’s a lot of land there.
Sadly, it was just purchased by a vulture investor who hasn’t been known to take much interest in redevelopment.
Shame. Whether razed or redeveloped, there’s a lot of potential for high-density, high-rise living along a transit corridor with few-to-no existing neighbors to complain. Shoot for the moon. With access to a revamped Capital, multiple access points to 540, and future rapid bus transit there’s is the capacity for multiple 30+ story residential towers.
While this area may run into little push back from surrounding neighbors, it doesn’t mean it will happen. Not every part of town can support this type of investment and Triangle Town Center is a prime example of this. Looking at the surrounding demographics it was poor planning or a lack there of, to put the Triangles first and only Saks 5th Ave there. No developer that actually does their due diligence is going to make a North Hills sized investment in that area.
What’s happening with the ESC complex/Old Rex Hospital on Wade? Any word on developer interest?
Drove by this one yesterday (3001-3013 Wade) - looks like it’s been completely cleared and leveled. I really wish that plans were publicly available but I can’t find them anywhere. This developer seems to do pretty attractive stuff, so I’m hopeful.
