I agree. But hope they can get it and drive my price up!
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We locked in sub $400/sqf.
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I hear ya. My $233/ft price I paid in pre-construction many moons ago for Paramount sure seems cheap today.
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Most of the heavy equipment has moved or is being moved out of the South Street Pit (aka the Lynde)not sure if it’s all going or just enough to block me while I was running out on some errands over lunch. Was hoping they’d go straight from the culvert rebuild to site work but it doesn’t appear so.
#DeathToThePit*
*not the BBQ place
Wasn’t the Rosengarten greenway supposed to pass through this property? Whatever happened with that? I thought that was a big part of why the site sat undeveloped for so long.
I am of the opinion that the greenway connection on that site rather than on S Saunders is superior, especially if the site could be developed as well.
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They should be able to create a gold paved pathway with those prices.
And if they sell at that price, it sets comps to be even higher for The Nash. 
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I knew would be ruff up here so built house way above code 
. Wind has to get up to around 40 for me to even hear it and in 30 years I’ve been here, only damage was from a large tree breaking in ice and wind storm that took most of back deck out 
But missed hot tub 
. LOL been lucky only other tree to fall toward house had a split in trunk. Split landed about 5 ft back from corner of house with each side of split going down a side of house with just a few scrapes in paint . 
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I’m pretty sure that plan is dead and the multi use path that exists on S Saunders from South to Dorthea Dr will be that segment of the greenway.
That greenway is pointless as it’s currently planned and would only serve a handful of people. The sidewalk and greenway on Saunders work just fine.
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I noticed a Board of Adjustment notice in front of the future Vault bottle shop on South St the other day. Looks like they’re requesting a few variances to streetscape, roadway, and parking requirements associated with changing the use of the building before they can proceed.
The variance request will be heard at the January 13 BOA meeting.
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I noticed that too. I meant to look up what was going on but figured someone else would do it for me. So thank you. Hope this gets going soon bc I’d love to have a little neighborhood bar.
500 per sq ft, sucker born everyday. Raleigh is nice, but not that nice. That is a risky price I would not pay. That is LA, SF, NYC priceS. Man, when the bubble breaks, and it will one day ppl will get burned. Or maybe the ppl buying them.are made of money and don’t care. Good luck.
I’ve gotta admit, I’m surprised by the prices that condos are going for in DTR as well. My partner and I are buying a townhome that’s less than 5 years old and only 2.5 blocks from Fayetteville street for ~$300/sq.ft. I guess we won’t have a pool or a gym in the building like many of these condo buildings do, but our HOA fees are so much lower than any condo we looked at that we could get memberships to pools/gyms with better equipment and still be way ahead.
Isn’t building and living more densely supposed to confer affordability benefits due to economies of scale? Or is it just that the pent-up demand for downtown units so far outstrips supply that the developer does get the benefit of savings when building, but they have no need to pass any of that on to the buyer? If that’s the case, I would have expected the place we bought to be more expensive than it was.
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I think the luxury condo developers are designing and building what their market research tells them they can build. The price per ft. matters, but more importantly, what’s the total price? Lots of North easterners and Californians are selling their $1.5m-$2m+ SFH with massive property tax bills and moving here, where $1m is a deal for an improved lifestyle and smaller abode.
It’s not just relocation folks either. Not to get ageist, but there’s a lot of born and bread boomers around here sitting on gold with a 5k sq. ft. house in MacGregor, North Ridge, Preston, etc. that can sell in a heartbeat and afford any one of these condos if they want that lifestyle change. @softfurrykitty trust me, there are a lot of buyers out there that understand they will have a hard time getting their investment out of a luxury property, but you don’t take a vacation to make money ~
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Raleigh is still nice compared to most of California and a lot of the west coast perceived ideal places. Two miles inland of the California coast is still double Raleigh prices and much less desirable. When I was looking for a townhome or condo in downtown Raleigh last summer I really had zero new construction options. Everything was sold out. Either wait 10 months for the last section of Ware or more than a year for the Fairweather. Demand is there for a quality product and I think a lot of people may be seeing the potential Raleigh has, as opposed to its current state.
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Big difference in buying condo vs home when you get to this price. Cost of the condo at 500 bucks sq ft, condo fees, parking fees, real estate tax, it all adds up. It will not be a quick ROI so you will have to own it for a long time. The quality of these places are not that great IMHO, mediocre at best, I’ve been in the two nicest and it was not anywhere near 500 sq ft quality,. Owning a 250k split level in NH is pretty reasonable and you pretty much have everything you need in that area.
The affordability ratio is plummeting fast for average Joe. Again, when the layoffs come, the houses/condos stop selling and the market tanks it will only take 6 months for things to go bad, I remember the last time and dogs will eat dogs.
I don’t want that to happen as I just love Raleigh. But history will repeat itself sooner or later.
It will be interesting to see how Raleigh weathers the bad times when they come.
Maybe the slower growth than expected here was actually not so bad.
Anyway, all looks good economically and development wise for now.
But if you are in debt buying at the 500 bucks a sq ft price point be very alert to the market changes as you may get screwed.
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I see your point. If there is a market correction it will not just be on $500 square foot condos it will affect everything.
However, speaking for myself after owning houses in the past I was looking for a no maintenance property. My homeowners will be around $300 per month. My yard maintenance alone was that much on a house. I can also walk to things which further reduces my car expenses. Single family homes are very expensive to keep up. Especially the older ones.
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