New Townhomes at West and Lenoir Called West + Lenoir

Rendering of West + Lenoir Townhomes

Submitted rendering of West + Lenoir. Click for larger.

Now for sale are the 12 townhomes that we’ve touched on before in the West area. The West + Lenoir Townhomes are billed as luxury homes with a long list of amenities including a private rooftop terrace. Location is the key selling point here, according to the realtors. The location puts you close to downtown Raleigh as well as the future Dorothea Dix Park.

The 12 units range from a 1,300 square foot, 2-bedroom, 2.5 bath with 2-car garage to 1,729 square foot 3-bedroom, 3.5 bath with a single space garage. Prices range from $469K to $579k as you can see below.

Rendering of West + Lenoir Townhomes

Submitted rendering of West + Lenoir. Click for larger.

Rendering of West + Lenoir Townhomes

Submitted rendering of West + Lenoir. Click for larger.

Rendering of West + Lenoir Townhomes

Submitted rendering of West + Lenoir. Click for larger.

Rendering of West + Lenoir Townhomes

Click for larger.

Those rooftop views look great but may get crowded if the plans at 522 Harrington take place.

Townhomes seem to be the luxury item right now in downtown Raleigh. I recall downtown condos being the “luxury” item in the mid 2000s with lots of rentals following afterwards. Perhaps we’re at the beginning of a townhome boom. Or maybe not.

Current site at West and Lenoir, February 2017.

Current site at West and Lenoir, February 2017.

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Comments

I’m always happy to see interesting little townhome spots mixed throughout downtown, especially instead of blocks of bland 6-story apartments. I can’t help marvel at the price. I can’t imagine paying almost $600,000 for a townhome overlooking housing projects just because it’s “near” downtown. I think you could live 5 miles away for half the price and take Uber every day for the rest of your life and still come out ahead.

Great view of the projects and your neighbor being mugged!

@Jeff, it really is hard for me to wrap my head around those prices when the project sits just one block from public housing. It sure makes the project on St. Mary’s look reasonable for what you get.
While I have nothing against the idea of urban townhouses, I sure do wish that they weren’t being developed in such small bite sized quantities and scattered. I would have rather seen a mixed use project on this corner with a ground floor of retail and two floors of flats with a shared rooftop.

Just looked at the website. The thing that sticks out to me the most is that the smallest and cheapest units are the only ones with tandem garage space. All of the 3 bedroom units only have garage space for one car. That doesn’t make much market sense if you ask me.

Are You for real man !!! $600.000 for a townhome right next to a housing project. ??????? Who in the hell would buy it. the townhomes look nice but why don’t you just build up the whole neighborhood so that ALL can afford to live there, not the folks with the Dollars, and you just pushing the poor right out of the way to do it. NO SHAME !!! NO shame at all. that is partly why I can’t stand Raleigh, You stop to think of building new and affordable homes for the poor and the elderly, instead you build these trendy Condos so folks can live downtown.

I agree, the prices of around 600,000 are absolutely crazy! This is not just happening in Raleigh, this is happening in cities all over the country. Sky high prices!

Yall think 600k is crazy but then the Hargett st. townhomes are selling for 800k. My parents actually saw the price of these townhomes and thought it was cheap. Just goes to show what the people who are downsizing and retiring are willing to pay.

Real estate is inherently worthless. Its value is completely, arbitrarily based on willingness to pay

I think it’s worth something to me to have a roof over my head in a climate controlled environment with electricity and plumbing. I don’t know that I’d say it’s worthless.

Leo, townhouses and condos have very different financing requirements to get out of the ground. Thats why the big stuff is apartments (+ the easy unloading to REITs) and small, owner occupied stuff is townhouses.
Also, the cache of this corner of town is palpable, housing project or not. It is a weird corner of downtown that houses an old neighborhood abutting low slung warehouses, a giant green space and a couple of thriving hipster businesses. Whatever business Goodnight puts in Dusty’s space will be a rousing space….what old garage has 12 foot wooden doors? The biggest damage to this cache will be the apartments planned for the south end of Harrington. As far as the townhouses go…sure objective reasoning makes sense, but I think it may winnow out enough dichotomous people with money who also think they are not excluded (read, they don’t think their presence changes an area) from organic cool areas.
Evan, I think what you mean is that values are assigned arbitrarily based on what your neighbor paid or might pay or what realtors decide to tag an area as being worth) With is relative. Like John532 says, its definitely not worthless. I’d go so far as to say that the only things with actual worth are food and shelter and the means to produce those two things. Everything else’s worth is a product of having excess food and shelter to go around.

And typing drunk on phone = typos…apologies

Yeah I’m a lil typsy. My point I suppose is that location based value is completely subjective and based on willingness to pay…Or willingness to fight/defend back in the day

I think the price point is fine. Good to have a mix of housing options. Would have liked to see more units to make the HOA more efficient.

@Tico, As someone who has been paying condo HOA dues longer than many millennials have been alive, I can assure you that small projects have expensive and/or very limited service HOAs.

I’m just impressed that the “view” rendering faithfully depicts both the auto parts warehouse and the substation. Of course I guess they’d rather show a one-story warehouse than the view-blocking five story apartment block.

TBJ posted a rendering of the proposed Gateway Exploris school a few blocks east of this. I like the design, and it says the building will be “energy positive” or in other words, will generate more energy than it consumes. Pretty neat.

http://www.bizjournals.com/triangle/news/2017/03/01/plans-renderings-unveiled-for-10-story-downtown.html

Also, (I should have read the whole article first) it says the site will be home to a 20-25 story office tower and an “iconic” gateway building to downtown.

Very Exciting plans, but the quote I found interesting was

“The goal, he says, is to break ground by July with building completion by winter 2018.”

Less than a year construction seems rather quick

It’s actually about a year and a half of construction time.

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