What $1.1 Billion Dollars Looks Like

I’m pulling out some interesting factoids from the 2016 State of Downtown Raleigh report. There is over $1.1 billion worth of completed, under construction, or planned developments in downtown Raleigh. What does that look like? Below is the list.

I’m proud to say that this blog has hit almost every one of them. I’ll try and wrap up the last few in the near future.

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Comments

Wow, this list certainly does highlight just how far things have come for downtown with more (a lot more) yet to come. Looking forward to seeing what happens long term with the Warehouse district, east Moore Square, and North West St.

I’m so sorry to beat a dead horse but Edison Lofts I just don’t get. The project took up 1/2 block and cost 40M for 223 apartments. That works out to $179,000 per apartment. Skyhouse, on the other hand, only used 1/4 of the block and cost 60M for 320 apartments which works out to $187,500 per unit.

I realize making comparisons based solely on unit cost comes up woefully short in the financial analysis department but still … 🙁

Wow, that is a very big list! I think the 2 projects that may be the most transformational that we know little about are 301 Hillsborough and the Food Hall. Both announcements of the idea seemed great, but there’s been no other info released. Also getting worried about Edison office building, but the developer emailed me back recently and said they hoped to make an announcement in the next month or two. Hopefully not an announcement scaling it down or cancelling it.

Leo, (or others), the project I don’t recognize is the “Dr Pepper Warehouse. Can anyone elaborate on that?
And FWIW I’m putting my money on the Dillion as most transformational since it activates an entire block, and one that is squarely in the middle of a key district. But Really this is clearly a transformational time for downtown as I think now it is finally cresting the mountain…

Mark, the Dr. Pepper Warehouse is on Dawson, between Davie and Cabarrus. It’s owned by Empire Properties and it’s being renovated for new office space. (I am pretty sure)

http://www.empire1792.com/property-dr-pepper.html

https://www.google.com/maps/@35.7752434,-78.6436539,3a,75y,242.13h,83.36t/data=!3m6!1e1!3m4!1so9A0zz8QgbGlcsLjSzPWZQ!2e0!7i13312!8i6656!6m1!1e1

Leo , Great Info. ! I am really looking forward to Charter North , The N&O Site Project , 301 Hillsborough St. Project , & The Dillon Project!

This list doesn’t even include the restoration of Devereux Meadows Park or the mysterious “Smoky Hollow LLC” retail development that will follow the realignment of Harrington and Johnson Streets once the Capital bridge project is completed.
As Leo will already know, I am really liking that Kane has picked up on the Smoky Hollow moniker.

Ah, ok…thanks Leo! That’s a great little art deco building…the sort of preservation that keeps important character intact.

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