Pic of the Week

Northeast corner of Jones and Harrington Streets, February 2017

Northeast corner of Jones and Harrington Streets, February 2017

Southeast corner of Lane and Harrington Streets, February 2017

Southeast corner of Lane and Harrington Streets, February 2017

I present two wide shots of the currently under construction Apartments. Judging by the height of the stairwells relative to the wood construction apartments, the building is almost topping out along Jones Street. There is still a lot of room for more units as you go down Harrington and turn around Lane Street.

At this pace, the units along Jones could have residents moving in before the year’s end. August 2017 was a planned move-in date about 6 months ago, according to the folks behind the project.

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Comments

@ Leo
Great pictures, thank you for always keeping us updated!

Does anyone know how many apartments there are now in downtown Raleigh?

Robert, this may be an article of interest with respect to your question: http://www.bizjournals.com/triangle/news/2017/02/06/raleigh-durham-apartment-market-vacancy-demand.html

@Evan, thanks for the link to that article. I had read it previously but looked at it again in context of this discussion. While the article tells us how may are under construction, it does not tell us how many exist in the DT area. That said, I am not even sure if the way these apartments are counted is aligned with the definition/boundary of DT as described by the city.
http://28811i322dvk3lbltt1ftxpy.wpengine.netdna-cdn.com/wp-content/uploads/2014/02/DowntownPlanBoundary-336×448.gif

This isn’t the exact answer, but check out page 41. As of 2015 there were about 4,000 residences and 7,000 residents. Expected to hit 6,000 residences and 10,000 residents by 2020 (which, for some context, would mean downtown would be slightly less dense than the citywide AVERAGE of cities like Boston, Philly, DC and Chicago). Look for a new State of Downtown after April 25. http://godowntownraleigh.com/_files/sod_website.pdf

Thanks Steve. It always seems to me that Raleigh exceeds its projections every time there is one. I was reading a proximityone report today that said the Raleigh MSA population projection for 2020 was 1,311,576. I had to laugh because the MSA has likely already passed that number (but the official estimates lag the reporting). The July, 2015 estimate was 1.273M and the Raleigh MSA adds about 30K per year, give or take.
I wouldn’t be surprised to see DT proper exceeding 10,000 by 2020 in its current ~1 square mile. Depending on when in 2016 that report established its data, there may have been recently announced projects that weren’t even on the radar then. A lot depends on what gets announced throughout the rest of this year and whether or not those projects are delivered before 2020. I think that the Smokey Hollow project has the capability of spawning even more housing and retail growth in the corridor where this Greyhound Apts is rising.

One downside of this project is that the parking deck will be exposed on the east side and it is pretty ugly. Hopefully the short beige NC League of Municipalities building will get redeveloped at some point and cover up the view of this parking deck.
http://i.imgur.com/4Ycp8bV.jpg?1

Bloomsbury Estates new Site Plan? Not sure if this has been discussed but a few months ago a new site plan was filed for what appears to be a plan for an additional condominium tower next to the Bloomsbury Building across from Boylan Bridge. Originally, the project called for matching towers before the real estate crash. Only one had been completed. The building went into bankruptcy, was bought and then the remaining condos were sold off at somewhat discounted rates. This could be a nice addition to finally get the 2nd building underway.

Bloomsbury Estates new Site Plan? Not sure if this has been discussed but a few months ago a new site plan was filed for what appears to be a plan for an additional condominium tower next to the Bloomsbury Building across from Boylan Bridge. Originally, the project called for matching towers before the real estate crash. Only one had been completed. The building went into bankruptcy, was bought and then the remaining condos were sold off at somewhat discounted rates. This could be a nice addition to finally get the 2nd building underway.

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