Empty downtown Raleigh condo project closes

Raleigh, N.C. — The Hue, a 200-unit condominium complex in downtown Raleigh, is "closed until further notice," according to signs posted on the Dawson Street building.

The seven-story building, which is painted in hues of blue and yellow, has sat empty since it was completed last year.

When city leaders helped break ground on the project in September 2007, it was billed as an affordable option for people looking to buy downtown, with units for prices at about $160,000.

According to The Hue's website, fewer than 20 units were under contract, but Wake County property transfer records indicate that no units have actually been sold. Sources familiar with the project told WRAL News that the developers had hoped to have at least 45 units sold by now.

The building's nearby sales office also is closed, and a message on the answering machine refers callers to John Butler of Prudential York Simpson Underwood's New Home Division. He couldn't be reached Thursday for comment.

"This is sort of a good news, bad news situation," Downtown Raleigh Alliance President David Diaz said. "The bad news is they weren't able to meet their goals for sale of condos. The good news is the strongest demand we have downtown is for apartments. My hope is that The Hue is offered as apartments."

Investors have expressed interest in purchasing the building and converting it to apartments, sources said.

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Latest Comments

I hope the mayor has read this. I am sure that since he thinks downtown is so great that he can live across the street from where he sits all day. Do you really think they thought that people would actually spend that much to live downtown. Where do they park? There are no stores downtown where they can shop. They can live and work downtown-- but you can forget about the shopping. If you lived there-- after a couple months you would be going elsewhere to eat anyway.

superman
May 28, 2010 3:23 p.m.

These units are priced at about double what they should be... get me a 2 for 1 deal and I am in.

Mugu
May 28, 2010 12:34 p.m.

I went there looking to buy a condo and they kicked me out. They weren't friendly to me at all. I told them I could pay them after I started working but they insisted I wasn't good enough. I am glad the place is going to rot.

manofjustice
May 28, 2010 11:59 a.m.

I really dont see the draw to living downtown. If I lived there I would be afraid to step out after dark, there is nothing there to do, its not a particularly attractive place, and there is nowhere to shop. So I'm not surprised to hear the places are not filling up.

shortcake53
May 28, 2010 11:03 a.m.

Demand for downtown living isn't tanking or anything. The problem is that this building is high-dollar condos, when most of the people who want to live downtown are looking for a reasonably-priced apartment. (And there are too few of those downtown, actually.) Convert the Hue to an apartment building, and price the rent to a reasonable level, and it'll fill up. With Campbell Law School across the street, it'll be full in a couple months, tops.

RaleighRob
May 28, 2010 9:07 a.m.