My company is a subcontractor on this project. We’ve been under contract since June. Typically we start on a project about 3 months after going under contract. We haven’t even ordered materials yet. So yeah, really, really slow. I have no idea why though. My guess though would be lead time issues.
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Wow! That’s pretty pathetic and a bit worrisome. I sure hope that the developer isn’t struggling with financial headwinds or anything.
If lead time/supply chain was the issue, wouldn’t they have instructed your team to place orders months ago? I have a tight timeline project right now and we are trying to pre-order as much as we possibly can NOW, despite the fact that we don’t even have a permit yet.
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The developer’s project in the Village District went fairly fast. Not sure why the Peace St one is so slow.
We have a bit of a supply chain problem these days…not to mention contractors & sub-contractors are not hurting for business in the Raleigh area…99% certain there’s your issue.
You can still see guys working daily over there. If it were financial; those guys wouldn’t be working at all.
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Our lead times aren’t as long as some others. Six to eight weeks for most things we do, compared to some trades having 12-36 weeks, depending. I know steel had really really long lead times at one point. Looking at this picture, they won’t need us on site till Feb – at best. We probably won’t order materials until after the first of the year. We’re more of a finish trade so won’t be needed onsite until the shell is fully erected, more or less.
This is the first I’ve seen of the project’s progress tbh. I’m not project managing this project so I don’t have a lot of details on timelines. I haven’t seen the construction schedule for example, can only speculate.
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I’m under contract to purchase one of the units and the most recent update I received stated the builder anticipates the project to be completed in May.
I also saw on their website that they’ve sold 18 of the 24 units now.
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So like August… haha
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wouldn’t be surprised at the pace they’ve been going…
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Can we delete this thread?
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I was hoping for steel on this as well but the exterior will be brick. The color of the brick will be similar to the brick at One Glenwood. I think it’ll look great once complete.
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does anyone know why they gave up on the boutique hotel and opted for condos instead?
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I would imagine during the pandemic that financing for condos in a prime location in a growing city like Raleigh would be much more easily obtained than financing for a hotel of any kind, let alone a boutique.
From what I heard from the on site agent the developer for the hotel wanted to go up to 7 stories which received push back from the neighborhood. There was also concern about the noise the rooftop bar would add.
I think the decision came down pre-Rona but either way much easier to finance.
Imagine being such a NIMBY that you gripe about a rooftop bar a block off Glenwood. Unreal
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I’m not really sure anyone really thought the boutique hotel was a serious project? Always seemed that way to me at least.
Couple updates on the Peace St. Condos. It looks like 20 of the 24 units have been sold only leaving 4 units left on the 2nd and 3rd level. I believe a few of these images are new as well.
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So for those who live on the rooftop do you have a mix of semi private space + communal space, and then everyone else in the building has access to just the communal part?
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That’s how it appears in the plans. It will be interesting to see how that plays out when it’s done.
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