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Digs in Downtown Raleigh Appealing to Variety of Incomes

Posted September 5, 2007

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— Downtown developers are slashing prices to appeal to a variety of incomes.

The average price of a condominiums in downtown Raleigh is about $370,000, but a new alternative is offering units starting at around $160,000.

If all goes as planned, people will be living in more than 200 condos at The Hue, at 400 S. Dawson St., by spring of 2009. Developers said these condos will help make downtown more affordable. Prices at The Hue are about 57 percent less than the average downtown condo price.

"We wanted to bring that average down and try to appeal to a wider audience," said Tom Barker, senior managing director of Trammell Crow Residential.

"This project is targeting that younger demographic," said Mitchell Silver, Raleigh planning director. "It adds a lot of vitality that a lot of young people have, as well as different demographics in your downtown."

"Initially, in most downtowns, you see the higher end stuff being developed first because the developers are uncertain whether the market is there," said David Diaz, director of Downtown Raleigh Alliance.

So far, people have been willing to pay the high cost to live downtown.

"Right now, there are 445 condos downtown. Only 29 are still on the market," said real estate agent Ann-Cabell Baum Andersen. "Buyers are out there looking for everything – one bedroom, two bedroom."

David Salmon bought a condo Wednesday at West, one of Raleigh's newest condo buildings. It is at the intersection of West and North streets.

"I just want a low-maintenance, no-grass, no-lawn-mower lifestyle," Salmon said. "I think this is ideal opportunity for me."

According to the Alliance, 326 condos have gone up downtown since 2005; 1,594 condos are either under construction or in the planning stages. Those condos should be finished by the beginning of 2011.

The ongoing development projects are priced either at The Hue level or higher. Realtors said developers are always adjusting to demand, so prices in some of those units could go down.

"Our goal is to make the downtown a 24-hour downtown, and in order to do that you need a lot of people living downtown," Diaz said.


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  • mrlaidback11 Sep 7, 2007

    Downtown Raleigh still does not have enough people to support another grocery store in downtown. If one opens it will struggle;however, downtown could use more retail stores.

  • nisa-pizza Sep 6, 2007

    I'm aware of the grocer on Peace St but how many other grocery stores are there downtown in walking distance of the new condos that are being built on the Blount street end of downtown? Are there ANY at all? What about retail store clothing etc.
    That one grocery store is quite a haul from the Progress Energy part of downtown. I'm talking about more grocery stores etc. in convenient locations like a real city where people don't have to drive out of the area to spend money outside of the community. One or two grocers to serve all of downtown won't do the trick.

  • ncsustudent Sep 6, 2007

    Lets not be ignorant, There is a grocery store downtown. It is called Capitol City Grocery and is located in front of Peace College. Wow, SE Raleigh scary?, ha ha ha ha ha ha ah ha ah ha he. Some of you people need to step out of the surburbs and see the world. Civil Servant, the greatest amount of drug arests in the past month have been in 500,000 dollar homes in wakefield. Large amounts of Crystal Meth were found on 2 occassions. Lets not paint pictures.

  • flashlight Sep 6, 2007

    If you build it [condos], they [grocery stores] will come.

  • nisa-pizza Sep 6, 2007

    In most metropolitan cities there are grocers that are usually family owned or small business that have convenient locations that are walking distance. Cameron village is quite a walk for someone who lives in those condos. That's part of the whole city experience and it's really missing here. Atlanta, Dallas, NYC, Miami, Los Angeles, San Diego they all have corner grocers.

    There should be more retail stores too, not just the corner drug store and restaurants and a furniture store here or there. There are lots of opportunities for merchants downtown that no one seems to be working on. It seems like the mayor may want to work on that if he want's to keep downtown properous and keep the money in that area to meet most of the needs of the people who live there. People may become a little disillusioned if they can't shop for more of what they want/need conveniently.

  • houdie1031 Sep 6, 2007

    I know that some of the people who live outside of Downtown come DT to get their drugs and to pick up the Hookers. I say lets expand grocery stores, etc to the DT; and expand the drug/Hooker business out to Clayton and the suburbs. Equal Opportunities for all. I'm waiting for certain parts of DT to get cleaned up, so I can live down there. Come on Blount St project. Chief Dolan, let's have more bicycle police. Governor Easley, Clean up the ABC board and stop letting Malt Liquor be sold on every corner of Southeast Raleigh.

  • nisa-pizza Sep 6, 2007

    Some people need to start putting in more retail like corner grocery stores and the like to accommodate this growth downtown. Are there ANY grocers in the heart of the downtown area for these people to go to?

  • civilservant01 Sep 6, 2007

    Why is everyone on "Clayton Native's" case? Huh? I think it's an accurate description myself. The TRUTH hurts most folks. Let's admit that there are some areas of downtown that are NOT so NICE. Downtown Raleigh could be nice though and I do stress "could be". There are alot of areas that do not appear safe. Yes, I drive down Blount Street alot and I see drug deals taking place along the street. Why aren't the Raleigh police doing something about this situation? Lost cause, I guess. Where's the "protect and serve" when you need it? It's not like the drug dealers on the streets are trying to hide their behavior. Seems like they're almost proud of it and have an attitude of "So, what are you gonna do about it?". Personally, I wouldn't live downtown. To some it may be appealing as far as closeness to work goes. I can see that. The choice is open for those who like that option and that's great, but it's not for everyone.

  • SubwayScoundrel Sep 6, 2007

    Good Keep on building. I see where people are saying no place to buy food. Then what is the Harris Teeter at Cameron village. Many suburbanites drive farther than that. A area like Raleigh must have a strong DT or it is nothing but sprawl.

  • MizzZeta Sep 6, 2007

    or this one: