Yes, that’s the lot: 600 New Bern. Wake Imaps says the current owner is “Jubilee Ventures”.
And yeah….that’s the one that we kept hearing rumors about mixed-use complex with Harris Teeter.
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When this does eventually happen, I hope they use the opportunity to reconnect the street grid. Extend Cotton Pl west to Haywood and Swain and extend Haywood north to New Bern.
While I’m at it, same thing with the DMV site, Cotton Pl should be extended east to Tarboro. And the Ligon redevelopment is an opportunity to extend Tipton St west to S Haywood. The current school is a barrier to neighborhood connectivity.
Lastly, no one’s posted anything about the 4 duplexes going up at 524 New Bern near the welcome to Raleigh mural. And there’s something about to start at the corner of Heck and New Bern. Lastly lastly, the 18 stalled townhomes at 906 New Bern were restarted about a month ago and should finish up relatively soon.
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More implementation of the TOD is in progress to increase density, via a mass-rezoning in the area: New Bern Ave Assemblage (Z-5-26) - PublicInput
“The request would rezone 18 properties along New Bern Avenue to implement recommendations of the New Bern Ave Station Area Planning project. Generally, the rezoning request will increase permitted building height and allow a broader range of commercial uses.“
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The TOD wording is referring to the potential affordable housing up-zoning opportunity? For example, a developer could build 2 extra floors, if affordable housing is included?
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Looks like home prices are finally starting to come back to realistic levels. The townhomes on Woodsborough PL. have fallen almost $300k in 2 years.
228 Woodsborough Pl, Raleigh, NC is for sale! | MLS# 10149761
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GOOD. Shit was getting a little crazy for a minute there.
…of course, this could just be yet another sign of impending economic collapse lmao
Price correction is going to be painful for those who bought at the pandemic peak and want/need to sell, but it is going to be better for the overall health of the market.
That said, price for land also needs to be corrected or developers like @raleighdeveloper won’t be able to make any new construction project work at lower price points.
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Forgetting the layout, which makes these multi-story homes feel like a constant game of stairs, the pricing relative to alternatives make it very difficult to justify. Next door with the Abode, you can rent a 1,600 SF 3 bed, 2.5 bath for $3,200 per month. With 228 Woodsborough even at an $800,000 purchase price (it does have a 4th bedroom) you are looking at a $5K monthly payment after putting down $160K. if you opted to live in the new rentals next door You could take your friends for drinks downtown 2 dozen times times a year at $200 per outing, go on a $10,000 yearly vacation, and still have money left over - and that $168,000 you didn’t have to put as a down payment would earn you $6,700 in interest income from a CD at 4%.
Hopefully this sends a clear message to land speculation because the only winner hear was the previous owner who sold the land to this developer with a insane dream that never materialized - but has held onto the property for over 2 years waiting for “interest rates to drop” so buyers would appear.
This .8 acre development holds 12 units, very low density.
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Seeing similar health drops in prices for the duplexes in my neighborhood. 2 years ago there were new units listed at $720,000 a side. Now this is happening (diff building)
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Unfortunately it’s still overpriced, prefabricated, redlining, nonsense! We have tent cities all over the place, however this economic travesty has been hyper normalized.
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That house has like every siding style, roof design, color palette, and window dimension. That might not be selling because it’s pretty horrendous looking and then you have an HOA fee that you split with one other owner so decisions are probably contentious!
@GucciLittlePig might like that it accommodates vehicles nicely with garage doors being a prominent exterior design element and ample parking in the front yard. If anything proves cars are built into the very bones of a residential structure, it’s this home!
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They really lost me a the timber pillars at the front porches. That isn’t to say that I like the rest of it either.
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I totally get the reasons people would not like this duplex. I am more reflecting on how the price point is getting interesting compared to what is for sale around it. A few years ago the new duplex units (not this one, the other 5 that have been built near here) were more like the most expensive units for sale in the neighborhood. Now that is not the case. Here are 4 homes withing a 5 min walk of it.
Oldest small home near it. Less expensive but much smaller.
Older newly remodeled home that is a similar size. More expensive than one side of the brand new duplex unit.
8 year old home a little bigger than the duplex and $200,000 more.
Brand new single family home being beyond very close to the duplex. Bigger, but $400,000 more.
I am not saying this new duplex is the greatest thing ever. But the price point is getting interesting in comparison.
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I’d argue that housing is shifting back toward a consumption good rather than an investment asset. The combination of post 2008 supply restrictions and the crazy cheap credit of the early 2020s pushed prices far above fundamentals (I honestly don’t know how someone could reasonably offer $50K over ask!). Someone who bought an $800K home at a 3% mortgage rate has a roughly $3,300 monthly payment, while a buyer today at 6% would face something closer to $4,800. That affordability gap alone forces the market to behave less like a speculative world and more like a market where housing is a basic service.
Looking at like Pulte,they reported building at around $78 per square foot in 2025, which makes it clear that when homes sell for $300+ per square foot, the premium is coming from land values and development friction (zoning, permitting, delays, etc). In areas of Raleigh, where developable land is abundant, homes naturally settle closer to $200–250 per square foot, reflecting a more normal relationship between cost and price.
Then when you throw in the massive wave of new apartment supply and the fact that unoccupied housing is a liability, you get real downward pressure on rents, but also home prices. So take a long‑time homeowner with very low cost basis who now decides to sell, they can reset the market quickly. Someone who bought for $100K twenty years ago can profitably sell well below recent peaks, pulling comps down and accelerating the shift back toward fundamental pricing.
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I’m just going to assume the forum inspired this TBJ article. They mention that five of the units were foreclosed on in January. Article also calls out City Hike for not selling well.
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All of these homes are overpriced and the Pandemic really did a job on us when you think about it. We desperately need the AHA! Rich vs poor. Privileged vs Unprivileged and the list goes on. The entire ideology of America is dead now. So how can we fix this. Raleigh is now the new Dubai!
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I’m familiar with how the mute button works, but these posts are too absurd to look away.
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He’s gotta be trolling, and honestly it’s annoying AF. “Raleigh is now the new Dubai” are you out of your god damned mind? lmao. Contribute something of substance or leave (not you Drew lol)
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The city needs to realize that the east side of downtown needs more than just housing. We need the city to focus on retail and services that are currently heavily weighted on the west side of downtown and to the immediate west of downtown proper. As someone who purposefully tries to limit my driving, I would avoid investing that much money in an east side house until the area had substantial progress on adding retail and services. This should be one of the top priorities for downtown and the city.
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