Thatâs a nice shot just imagine the possibilities when all the building from there to Doentown are up.
A post was merged into an existing topic: Peace Street Condos
I still canât believe there are towers rising here. partly because theyâre so far removed from the rest of the skyline(which I realize is creeping down that way) but also that its 2, not 1, that seemingly came out of nowhere. I may have missed it but it was like renderings, then BAM! construction.
I may be a bit out of the loop here, but itâs also kind of crazy you have these towers going up essentially in a neighborhood of SFHâs.
It is essentially along a major N/S corridor (South Saunders), developed with (one of the) Kane(s), using learnings from North Hills and adjacent to one of the largest park projects in the countryâŚ
Still, yes - crazy to stand on the back corner of that lot on Fuller / Lake Wheeler and imagine the change.
The two blocks of SFHs next to these towers, along lake wheeler that face the park, will eventually be developed. The future city use map has the recommended zoning of up to 12 stories. The small section of fuller heights behind that will likely remain SFH. The new entrance to the park is directly in front of the two blocks of SFHs that are recommended for mixed use development. Further down across from the farmers market has already been rezoned.
Beyond the Wheeler Crossing neighborhood (basically everything on Talmage street) which has an association, I do not think the rest of fuller heights will remain single family.
The remaining area is extremely small. Even assuming the city never changes the zoning from R6 (which I doubt), missing middle will allow redevelopment as attached housing. The entirety of Fuller Heights will eventually redevelop. Eventually even Wheeler Crossing will most likely dissolve their association and sell.
I agree that itâll likely be redeveloped eventually, but not anytime soon. The front blocks are much more valuable due to the zoning, along with park views and street access to the park for storefronts, and even those wonât be purchased for many years and then many more for development. The land is going to be expensive and the Lake Wheeler Road Project wonât start until late 2024, which theyâre already behind on, plus another 2-3 years for completion.
I feel like so much of it will have to do with the timing and the disruption the development along lake wheeler causes for local residents. Will construction and property taxes, due to future zoning and development, incentivize residents to sell sooner rather than later? Once the front blocks are slated for development, which will be many years due to the price of the land and the Lake Wheeler Rd. Project, the lots further back in fuller heights could turn into million+ dollar SFHs and at that point itâll get very pricey to buy up those blocks, if people are even willing to sell. I feel like a developer would need to buy up those blocks quickly but the zoning wouldnât allow for much⌠would a developer take that risk?
Itâll be interesting to see what direction this area goes and the timeline.
It will be interesting to see how these parcels get redeveloped. As great of a location as it is, if I was building a $2 million dollar tear down single-family home or luxury attached unit, I donât know if that would be the ideal location. In my opinion this area is the perfect candidate for street frontage retail and shops, with three-story stacked condos and sixplexes (think Brooklyn, SF, Chicago) one block off lake Wheeler Rd.
IMO, if the vision is to have more housing in this area, and if itâs going to happen individual lot by individual lot, the city owes some sort of framework and guidance about how that might happen.
It would seem to me that these sort of consistent rectilinear lots might all be able to house the same sort of 4 unit, 2 story buildings with 2 up and 2 down, or whatever sort of small multi-residential building that aligns with the code.
https://missingmiddlehousing.com/types/fourplex
With the exception of Wheeler Heights, so many of even the non-rezoned properties are owned by investors like Lynn E. Tucker or Bhola Gupta that I donât expect it will take that long. A few years perhaps, but a decade at most.
Iâve been following Raleigh development pretty closely since about 2003, so 10 years doesnât seem like that long to wait for the kind of change weâre likely to see here.
That my renter I am going to make a report on he hasnât fix anything in the house
Most of the neighborhood has smallish lots - and, in total agreement with you, seems that Wheeler Crossing would be the last dominoes to fall here and itâs going to take some time. The most important block to set the tone seems to be the lots bound by Fuller, Curfman, Grissom and Lake Wheeler that could turn into mid-story multi-family with retail frontage - and all of those (future) lost SF homes still shake out to ~8 acres when the land value escalation kicks up following the Weld / Dix phase 1 wrapping in - looks at timeline - 2026? Couple that with whatever happens around the Baker / Maywood rezonings - lots more residents are coming to this area and even with that increased density, the rest of the lots on the interior will see desire / pressure increase, so perhaps those rental âinvestorsâ you speak of will roll en masse at some future tipping point? Iâm curious to see if there could be a strategy at play that yields greater, yet gentler, density than if we have to go through the variance of the musical chair, who sells first, displacement discoâŚ
That name and âinvestorâ donât belong in the same sentence. Heâs a slumlord, and has even been ARRESTED in the past for entering tenants home without permission and STEALING shit. He should be banned from renting out properties, TBH and itâs sick that he can still continue on with his sketchy practices.
This report is from as recent as Dec 2022. The dude is absolute trash.
