ITB New Home Builds

[ADUsSomeday]

Here is more detailed info per CAC.

Looking through the Imaps data on the ITB part of Southeast CAC there was only one home officially built ITB in 2018. The two I found earlier were “2017” & a third one was built that year as well. Left house 2018 two in the right 2017.

Did some https://maps.raleighnc.gov/iMAPS/ digging on the West CAC & it shows 5 SFH, a Duplex, & a Fraternity. One of the SFH shows “Swift Creek” as the Township. Is that a thing I don’t know about?

The imaps data said that Southwest CAC ITB had 7 Single Family Homes & a Fraternity built in 2018. 5 of those homes were sold for an average of $470,000

Imaps data confirms that Glenwood CAC is still home of the home of McMansions, and land where missing middle housing is not allowed. 19 SFH homes in 2018, Average square footage of 4,290, avg. price of $1,232,181. For a total of 5 new places to live.

Looking at the Imaps data for South Central CAC I see 21 Single Family Homes Built with an average price of $403,777. 6 of these replaced duplexes with a SFH. I would call Postell street the most displaced street ITB in 2018. 2 less places to live in this CAC than in 2017

Going back & looking at https://maps.raleighnc.gov data I see a lot more homes built in MidtownCAC in 2018. 17 townhomes & 5 Single family Homes. Average townhome price $416,000 & the only SFH with up to date sold data has $1,250,000 yikes…

The Imaps data for Central CAC says that the Dillon was a 2017 building. In 2018 there were 18 Single Family Homes, 5 Townhomes, & an office building for a cemetery. This added up to 7 net new places to live. With an average new home price of $679,527.

The imaps data for Modecai shows a couple more builds as well. 17 town homes & 20 Single family homes. Together adding a net new 6 ish places to live. Average new home ~$593,000

Imaps data says that Five Five Points CAC had 24 Single Family homes & a 29 unit condo (620 Wade) built in 2018. Only 3 of those SFHs were net new (rest were tear downs) & the Condo’s were all infill. Average Home Price was $1,044,000. Average of 3,806 sqft

The imaps data for North Central CAC shows a lot more activity. Total new numbers were 42 SFH, 10 condos (Townhome style), 2 garden apartments (162 units), & a Day Care. Together this created 23 net new units to live in.

Average home price gets interesting. Lot of homes here have not sold yet, & a lot were part of the East College Park Affordable homes program. Market Rate homes averaged $452,000 and City or St. Augs built homes averaged $205,000. ← Down payment help was given though.

Did some https://maps.raleighnc.gov/iMAPS/ digging on the West CAC & it shows 5 SFH, a Duplex, & a Fraternity. One of the SFH shows “Swift Creek” as the Township. Is that a thing I don’t know about?

[Mitch]

So if I’m adding this up right, that’s 129 (+139 student units) new housing units total for the whole year?

Doing some quick and dirty calculations based on some numbers I’ve found:

• The City of Raleigh’s population grew by ~2.2% per year (compounded yearly) from 2010 - 2018 [1]
• The ITB population is estimated at ~120k people [2]
• NC’s average occupants-per-household is <2.5 [3]

120,000 people * 2.2% growth = 2,640 new residents

2,640 people / 2.5 occupants per household = 1,056 homes

So to keep up with the general rate of growth of city, we’d have needed north of 1k new domiciles ITB in a year, and instead we got 12% of that, or less than one eighth. Even if we include student housing, we’d be at only 1/4 of what we need just to keep the supply where it was, and that’s not accounting for the fact that we haven’t built enough to keep up in past years, and that more and more people want to live in or near downtown nowadays.

By these numbers, it’s no wonder housing is so expensive ITB. And I believe my numbers are actually pretty conservative. I think this really highlights the need for much higher-density zoning across the entirety of the city. 1,000 new housing units is not unreasonable; that’s really just 3-4 apartment complexes (a la Bull House in Durham, 305 units), or buildings like Skyhouse (320 units) if you prefer.

Data details

1. Per census data cited on Wikipedia.
2. Per this estimate from 2014.
3. Per census data from 2010. Per the same data, Wake County’s “single-occupant household” average is much higher than the rest of the state, as I imagine would the city of Raleigh and IRB even more so, and the number is probably even lower as more young well-paid people moved here over the past 9 years.

[OakCityDylan]

And perhaps also not a surprise why there’s so much sprawl and SFHs.

[ADUsSomeday]

Here is the raw data on ITB housing (about 6 months old). Going forward I am going to try and opensource some of the underlying work to see if I can crowdsource some better strategies on gathering/organizing things. https://docs.google.com/spreadsheets/d/1t1OUQ5KhKhFOureW1pXlCwKXFDY9BYGfIlKyA0UYhtw/edit?usp=sharing

[John]

Oh I love me some data! Thanks for sharing.

[ADUsSomeday]

So, after some prodding from people, I moved the tweets on housing over to a blog format. What do people think?
https://www.whatisraleighbuilding.com/

The first post was just about the fact I was starting a blog version of stuff.
https://www.whatisraleighbuilding.com/blog/2016/2/16/i-finally-made-a-blog

Second was about overall ITB in 2018
https://www.whatisraleighbuilding.com/blog/what-was-built-in-2018

Third was about the CACs that did not add anything in 2018
https://www.whatisraleighbuilding.com/blog/the-unchanged-cacs

and just posted one on West CAC that shows how building there has just fallen off a cliff in the last decade.
https://www.whatisraleighbuilding.com/blog/west-cac-did-actually-build-something

[JetsJessie]

“Duck Faced Duplex” well done

[Drew]

ITB insider is reporting that Grant Ave Apartments will be torn down and replaced with almost 4 times the square footage in Apartments. Says it will be 8 three story tall buildings and 1 two story clubhouse building pictured below.

Here is a street view of the apartments currently.

We need dozens more of these overhauls inside the belt-line.

[Jake]

Been aware of this for a while, hence why I have to move. Hooray for more rich white people apartments though I guess lol. Glad for more density, at least.

[evan.j.bost]

Gentrification in action! Sorry Jake…

[John]

I never lived in them, but I had lots of friends move in and out of Grant Ave. apartments throughout the years. It will be sad to see them go from a memory perspective.
At least it’s being replaced with more apartments and not giant luxury homes on tiny lots like happened on Wayne Drive. This creates more density, not less.

[KenAA]

@Jake

Hooray for more rich white people apartments though

Why the racist tinge? You’re that sure others wouldn’t move there?

[ejimster]

You know what, you’re right. That’s a very generalized, stereotypical comment. One is Rich and one is White. But both data points are not exclusively Rich or White. Many people are living beyond their means to appear rich whether they are White or whatever race they didn’t have an option to choose when they were born. Now, beyond income or net worth achievement which is not exclusive to a particular race… let’s discuss the tenants that may potentially live here. I am confident it will not be just White people. Yes, White people in terms of population percentage is higher than other races but that doesn’t mean they will be exclusive to the apartments being developed.

This just means your comment Jake is incredibly annoying and not very intelligent and as a matter of fact a tinge racist as KenAA points out.

[OakCityDylan]

Wow. Quite the topic to comment on for your first post! Welcome to the community and well put!

[Jake]

@KenAA LOL. K. Y’all must not be aware of the general outcomes of gentrification. But OK.

To note: While it sucks to have to find a new (affordable) place to live, I’m not exactly lamenting the loss of these 1950s era apartments themselves. They haven’t really been maintained that well, still have the original single-pane windows, etc. They are affordable, but boy do they suck. I just am growing tired of any/all of the city’s remaining older and thus more affordable housing being replaced with “LuXuRy HiGh-EnD” rentals.

[evan.j.bost]

I feel you; it’s getting old when every new proposal is luxury this or luxury that. But it is the natural progression of things. When Apple releases a new iPhone, they don’t exclude desirable features from the previous version. Even “basic” new cars now come standard with heated seats, backup cameras, and Bluetooth entertainment consoles. As a luxury homebuilder, we have to explain to our clients that the luxury homes of 2005 are not the same product offering as what we’re building now, from engineered wood products in the walls and floors, to lighting technology, glazing efficiency and features, A/V wiring in the walls, better waterproofing products and practices, insulation and air tightness, etc. etc.

Eventually the luxury units of yesteryear will become “affordable”, just as these apartments from the 50’s were at one point marketed as the latest and greatest. “You’ve got to admit it’s getting better. It’s getting better all the time.”

[Jake]

I appreciate that look on the brighter side!

[evan.j.bost]

I hope not to seem insensitive toward you having to move. I hope you find a great place to call home next!!

[Jake]

Oh no big at all, it’s for the best!

[ADUsSomeday]

I was suprised by the numbers on average home prices in the ITB part of Southwest CAC over the last few years. They have doubled to trippled since 2015. whatisraleighbuilding.com - whatisraleighbuilding Resources and Information.