1400 Walnut is obviously different because you can’t live in 1400 walnuts. It’s also fancier because that’s quite a lot of walnuts
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(emoji reaction just this one more time)
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I would suspect that the Phase 2 “The Walker” in downtown Cary will end up being all residential and retail, vs OFFICE, residential and retail. Here is the original plan
with as popular as downtown Cary has become (and pricey), especially close to the downtown park, if the developer wants to get a return on his investment soon, it wouldn’t be that hard to redesign the original plans to just be all residential or a hotel (perhaps condos vs Phase 1 apartments?), and I’m betting it’d likely sell out very quickly.
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I did a phase I on this property 10+ years ago. Looks like it may finally be getting redeveloped. But the loss of lower cost housing is a continued concern. https://www.bizjournals.com/triangle/news/2025/02/25/raleigh-midtown-north-hills-midline-property-jll.html
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A huge parcel (almost 28 acres) in a prime location along the beltline next to North Hills and the Exchange is being marketed by JLL as “Midline Raleigh”. Will be interesting to see if Kane grabs it to extend North Hills or if another buyer steps up. It is already zoned for up to 20 stories.
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Anyone with City info know if the proposed midtown bridge that would connect this property with Barrett Dr has had any progress since the website’s last update in November?
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(since I can’t emoji react)
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There goes a bunch of naturally occurring affordable housing units.
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I don’t think you’re going to have too many people crying over tired, aging housing stock getting turned into more better housing stock. It’s the circle of life.
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I hate that folks will be displaced, but when I did the site walk 10+ years ago, those buildings were in rough shape. Several of the units were covered in black mold.
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Those units were there when my family moved to Raleigh 51 years ago.
Even the apartment that we lived in temporarily while our house was being built is still there, and they were crappy back then! I totally understand.
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Yeah it does suck but I place more blame on developers/city leaders not pushing for more housing development in the, you know, 40 years between these being built and now lmao. Today’s “luxury” housing is the affordable housing of 20years from now.
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I think that the bigger problem is that developers don’t seem to be building not-luxury apartments these days.
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It is very difficult to make a non-high-end apartment project pencil out these days. There isn’t that much savings to build a Class B vs a Class A apartment. Land cost is the same. Maybe some savings on materials, but even then most of the materials are the same, just a little higher quality finishes in the Class A. Similar deal with the labor, just not much marginal difference. You could save a little by excluding some amenities, but not enough savings to justify the foregone rent.
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Even if they could make it “pencil out”, it’s hard to imagine a developer not making a development as profitable as possible.
They just formed there like a glacial cave or redwood tree!
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Well, according to @Nickster there is some naturally occurring black mold.
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A couple pictures of the Midtown Exchange building with its upcoming Peregrine restaurant:
Plus a few more of the upcoming Standard Beer/Food and adjacent buildings:
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That is gonna be one nice SoB 2.0
Does anyone have any updates on the LifeTime residential building that was announced at Midtown Exchange? Is it still on? Working through permits?? DOA?