Local News

More People Are Calling Downtown Raleigh Home

Posted Updated

RALEIGH — Many people work in Downtown Raleigh and go there to enjoy the nightlife, but now more and more people want to live there.

Developers are taking notice and building condos, which are selling even before they are finished.

In 1995 there were 310 apartments and condos in downtown Raleigh. Barely four years later, the number has almost doubled.

"If I could show you the number of people who call my office just from that sign on a daily basis, it would amaze you," says real estate agent Ann Cabel Baum, who is referring to a sign on the new Park Devereau condos.

Even though they will not be complete until October, 32 out of 46 units are already sold.

Other downtown properties including the Cotton Mill and Martin Place Condos sold out before their doors opened.

Brad Hudson is one of many people investing in downtown living. He purchased a downtown condo two years ago. "I just like being able to walk places," he said. "I think there's a demand for it, or I wouldn't be getting involved in it."

The owner of the popular city market sees a lot of potential downtown. In the past two weeks, Joe Hakan has gone to city council asking to purchase the artspace building, and another space where he envisions apartments.

He says traffic alone will drive more people downtown.

"I've had nothing but calls, and there's been nothing but surveys all over the county," Hakan said. "You can read some of this stuff that says, 'I'm tired of traveling 25 minutes on a crowded beltline or a boulevard to get to work.'"

As the number of apartments and condos continues to rise, developers say more retail shops are also in the plans. The idea is to keep people downtown once they move there.