Olde East Neighborhood

Any updates on this? Have they built all of the buildings yet?

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Just drove past it. Looks just the same. I feel like I see buildings and homes paused at this point all the time (80% constructed but missing siding and other finishing features). Anyone know why? Are they just waiting for buyers?

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It could be due to multiple reasons… I think it’s mainly due to the increase in construction costs. I’m sure they have interested buyers but have they already paid and how much?

I have a good friend who works for Chappel, these aren’t selling the way they imagined so they have paused construction on the second half of the project for now.

Turns out not that many people are interested in paying 10-15% more for solar panels and sustainable materials.

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I was at the huge national olastics convention in Orlando last week, and it was the drumbeat throughout every presentation and panel there. Everyone talks about sustainability, no one is willing to pay more of their own money for it.

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Seems like a marketing issue, there are thousands of people moving to the area and 1 +/- million that live here already.

They might need to create more reels and posts on their social media accounts. I follow Chappel on instagram and I haven’t seen any posts from them recently… the algorithm on instagram is weird though so there’s that.

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10-15% more is also a huge amount on properties they’re already selling for $1.4 million.

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Is it really that much of a premium? Here’s another one also designed by Raleigh Architecture co., and it’s actually more expensive, at $529/sf. Not sure if that’s driven by location (does The Village District command a premium?) or something else.

I guess another useful point of comparison is the Clark Ave. townhomes which are changing hands 5 years after construction for about the same price, $513/sf

And the reason I think it’s useful to compare townhomes designed by the same firm is that they tend to have a higher level of build & finish compared to others on the market.

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Village District absolutely commands a premium. Some people just love being next to the (semi-)mall. It definitely feels a bit more contained and calm.

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Not much visible movement from the outside, as @dfyoung said. However, I heard hammering from inside as I walked by so :man_shrugging:

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That makes sense. For another point of comparison outside the Village District, it looks like some other new builds around downtown are similarly priced. The new ones on West St. are selling for $520-628/sf… but maybe there’s Boylan Heights adjacency inflation there

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Hi there. Just curious about something. I’ve heard through the grapevine that Exploris’s lease is up and a Harris Teeter is interested in moving into that plot, but I have no confirmation of that. Anyone heard likewise? Know anything else? Thought I’d ask here.

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I haven’t heard anything, but that would make a ton of sense. East downtown Raleigh is sorely lacking in grocery stores. I do know that the original plan was for there to be another grocery store set up in the Moore Square-adjacent development, but I haven’t heard anything on that front recently.

I think a grocery store on this side of town would be wildly successful. I’m pretty surprised that this hasn’t come up within the last few years.

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please God let this be true.

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Hmmm, really 3 potential sites on the east side of downtown for a grocery store. Maybe this 600 New Bern site is more centrally located to catch the most customer base. A Moore Square grocery store would overlap/ compete with Weaver Street.

During city council meetings it was said a couple times by planning and council members that the developer @ 600 New Bern has a grocery space in mind. I think it is very likely to happen, just not sure the scale/size of it and what brand would fit in said space.

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The owners and developers of this site, 600 New Bern, are planning an apartment building with grocery and retail, similar to Publix on Peace. It won’t be quite as tall, because the site is approved for 5 stories, with flexibility up to 7/8 if they use the TOD affordability density bonus (I believe they intend to use the bonus, they build in cities that have mandatory inclusionary zoning so they’re accustomed to including affordable units). I cannot confirm or deny the brand…

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This would be absolutely fantastic!

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I can also add my voice to those happy to see something in east raleigh other than the rusty old food lions. I’m ecstatic at this possibility! I think a Harris Teeter would do well there for sure. I’d be a regular, I know that much. Anything to avoid parking at cam vill. lol

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Same. I’d probably switch to it from the Midtown Wegman’s.

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