Actually i think the new renders do a much better job of creating a sense of space in that courtyard.
Here is the old one…
The new one seems to try to mimic a streetscape, with the bricks creating a walking path and restaurants having outdoor seating that will do a good job of keeping the area feeling active and inviting. + overhead lights will reduce the cavernous feeling this could end up having. Really excited for this.
Also, I was wondering if any plans changed. From the initial renderings it looked like this open area was a little bit wider. This coincides with me biking by and thinking the actual space looked slimmer in person than it seemed in the initial rendering. Now seeing this new one, I’m wondering if my eyes are playing tricks on me or of they squeezed it in a bit?
Agreed, the tweaks are an improvement. Re: plans changing, it’s probably just the vantage point of the different renderings (the older one is taken from one side looking across the space, rather than from the center of the courtyard). Also, in comparing the two renderings posted by @Tenkai that are actually of the same view, the courtyard looks about the same size.
Another thing that can affect your perception in renderings is the field of view used to take the image (a wider angle skews perspective but is sometimes used to show more of a tight space, e.g. interior renderings)… The first building I worked on; I’d been staring at renderings for months and was let down by how much smaller the lobby I’d designed actually felt when built. It was an effect of the wide angle.
Curious… regarding the rent prices of these units. If the building were twice as tall, and Kane was able to put in double the amount of units. Would the price per unit be less… meaning could they charge less rent? Or it probably doesn’t matter… they will charge whatever they want because its in one of the most popular spots in Raleigh and people will pay it?
Being brand spanking new, I feel like this commands the highest rents for right now. We see the same thing over at 511 Faye.
Why NOT start your prices high and respond to demand and market reaction by lowering later? Do we think the opposite works better?
I wish we had data to prove it but I bet you the prices fall over a year or two. Ever buy a car? From my one experience, and some others who’ve told me, they always pitch you that “let’s see if you’re a sucker” price. I’m not saying you can negotiate rent here but I just feel like this is common practice.
I suspect that some of these 2 and 3 bedroom units will be roommate situations. For a 2 bedroom, half of $2700 isn’t that unreasonable for a highly paid young professional.
I’ve mentioned this before but we aren’t even coming close to meeting demand on these downtown units.
It’s maybe every 8 months to a year we have a new development opens and most of the units are spoken for before they even open. The speed at which the Dillon was leased-up should be an indication. People have mentioned just opening numerous more apartment complexes wont solve this problem, but that is exaclty what is solving Tokyo’s housing “problem”. They continue to produce more and more units.
“Over the past decade, Japan has consistently built almost 1 million new homes and apartments each year, according to official statistics. In the U.S., where the population is more than double Japan’s, 1.25 million new homes were built in 2018”
"“A reason why housing prices in Japan are not rising as fast as in New York, for example, is the large number of housing starts,”
“In Tokyo last year, housing starts came in around 145,000, according to Japan’s land ministry. This figure is on par with the total number of new housing units authorized last year in New York, Los Angeles, Boston and Houston combined, based on the U.S. Census Bureau data.”
" This isn’t caused by social housing or danchi – less than 5 per cent of homes across Japan are socially rented, compared to about 17 per cent in England. And it’s not because Japan’s population is shrinking either – Tokyo’s population is still growing due to migrants from other parts of Japan and abroad.
Orrr… developers and property managers will see this project getting $14-15 million in rent per year (408 units at maybe 2900 avg rent) and lead to even more high-rise urban apartment building proposals wanting to capitalize on the demand.
ITB insider is reporting the Publix was recently issued permits for the $6.8M interior fit-out of the grocery store. They think opening date will be somewhere around Spring 2020, I’ll be surprised if they are serving groceries by September. In the picture they posted of the exterior of Peace Apartments, I really hope they plant that many trees along Harrington St.
Kane has never shared an opening timeframe sooner than Fall 2020 for Publix. Not sure where Spring came from except that’s the timeframe for the apartments to open. He may have gotten the two mixed up.
