The Tucker, One Year Ago

Almost one year ago, we were watching The Tucker go up in this post on January 12th, 2009. This is the type of development that the area needs to bring some good foot traffic to downtown and spur retail.

I might call them up to see how full or not they are. Anyone have any idea?

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6 Comments

  1. Leo,

    I totally agree with you. This is the type of in-fill development we need to see in smaller neighborhoods of Raleigh. In a way, it reminds me of The Exchange at Brier Creek and I would love to see a similar mix in the West side of Glenwood South, with several low-to-mid-rise developments, surrounded by nice-looking live-work townhomes. Overall, 712 Tucker has more than met my expectations and I hope it becomes successful in the years to come.

  2. I agree it was great infill for downtown. And it was great for someone to build an apartment building downtown instead of a condo (for once!). But…

    If they are full, I’ll eat my hat! :-P Seriously, 4-digit rents for a one-bedroom apartment (according to their website) in the middle of a recession? Are they high???

  3. I agree, their rents are high, but I guess they compare them to making mortgage payments on a condo, or even a house. Plus, they provide parking, which is VERY expensive when we talk about parking decks. Still, I wish someone really understood the massive potential of affordable rental units. Maybe some day…

  4. From my understanding, the project has been very successful. The majority of the units were pre-leased before they even finished construction. I think they only have a few units available now that the final phase has been completed. My guess is 90-95% occupied???

    I would say the transition from condos (as it was originally planned) to apartments was the smartest move in recent downtown development.

  5. I live here and like it .. I guess it’s a bit pricey compared to outside of town, but I justified it because it’s the only luxury apartment complex in walking distance to Raleigh bars and restaurants, and the rates are comparable to living in downtown Charlotte or Atlanta. As far as occupancy is concerned, I don’t have numbers, but every unit on my floor is occupied. The first tenants are receiving their renewal contracts with a 10% rent increase, which suggests that occupancy is high.

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