Do we actually know what the newly proposed height would be? 20-stories but condos now instead of apartments, I’d imagine for the prices they’re asking for units - the floor-to-ceiling height is probably substantially higher than it’d be for an apartment rental building, right? So will this be closer in height to a 20-story office, aka, around 250ft?
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Seems like a well informed guess. I’m curious
This is a great question… I actually don’t see an ASR for the change to the shorter condo building. Isn’t that still needed?
This is the part that contradicts any statements about construction starting soon for this project. They have an ASR/SPR for a 34/36 story apartment building at 217 W Martin Street from 2024. However, since they are now doing a 20 story condo, that is not a minor modification as it exceeds the 15% threshold for units and 15% decease for gross floor area. So the developer has to go through this ASR/SPR process first and do the actual building permit. We are in June 2026, historically Raleigh’s Planning and Development Services has not turned around a building permit in 6 months for a project at this current stage.
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Yeah so really it seems like this developer is flailing and has absolutely zero idea what they’re doing. I’ll be shocked if this development ever comes to fruition, let alone this year lol
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Yeah that gives me pause. If we don’t have an ASR then the developer isn’t getting started this year. That is what they are telling people to hype the project. It will be 2027 mid year at the earliest.
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They’ve had a Zillow listing since the beginning of the year, probably to gauge any possible interest. Guess they could still revert to the 30+ story apartment whenever.
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I wish they would 
Not like I’m living there either way
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Short term thinker. Give the One Nash a chance to bring it home. We some diversification on the West Side.
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"Construction is expected to begin later this year, with first move-ins slated “for mid-2027.”
Wow that’s ambitious!
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No i don’t like this box please don’t 
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Middle of 2027? That sounds impossible!
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This whole campaign seems to be beating the bushes with a sense of FOMO urgency to gauge interest in the condo market at their price point.
If insufficient they simply stay the course on rental (the ASR they hold) based on whatever research says about that market for timing.
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Here is the thing. I think it is really really hard to get presale in markets like Raleigh. Sure in Miami and NYC they can get pre sales years out. The market is already small here and the market of people who want to commit to buying a multi million dollar condo that won’t deliver for three years is practically non existent. The novus in Durham kinda showed this, decent demand once it was move in ready.
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That’s an interesting take. I like it.
The novus in Durham kinda showed this, decent demand once it was move in ready.
The Novus had over 40 percent of its condos reserved before the building was even publicly announced in October 2021. I remember being really shocked at that number… here’s the press release.
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The Brightbury had strong presales as well. A commonality with Novus was that it wasn’t the developer’s first project.
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I bought my condo at the Paramount presale, as did most of the original buyers. That said, it seems that there was more financial incentive to do so back then (2003-04).
If I’m a buyer in Raleigh today, it’s hard for me to wrap my head around buying a $800K one bedroom condo presale and think of that as a financial incentive, especially when I can’t see or touch the product or simulation thereof (model sales center). Is there even a sales center? I haven’t seen one announced.
As a buyer of condos my entire life, I’d also want some other type of incentive to get in early. In my last 3 condo purchases, I have been able to make pretty significant changes to the condos because I was so early and didn’t mind waiting. Maybe the developer can offer presale buyers their choice of storage units or parking spots? Maybe the developer can offer customizations? Maybe the developer can offer upgraded appliance packages? In one of my presale contracts, the developer gave presale buyers a bicycle to tout the location’s bikeability. In one of my presale condos, the developer even sent us quarterly updates in the form of a nice mailer, and they included small vouchers/coupons to try restaurants in the neighborhood while we waited. My advice from a presale buyer’s perspective is to just do something, anything, to make the buyers feel appreciated and special.
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