Local News

Tour gives visitors glimpse of downtown housing

Posted May 17, 2008 6:00 p.m. EDT
Updated May 17, 2008 10:21 p.m. EDT

— With thousands expected to attend Artsplosure this weekend, managers of the 4th annual Downtown Raleigh Home Tour think it may be a great time for real estate sales.

“It (the tour) gives people the full spectrum of what is out there in the lower-end range of homes on up to the million dollar range,” Shelly Parramore of Bloomsbury Estates said Saturday.

Downtown’s housing is growing. In 2000 about 600 housing units were downtown. Currently the number has doubled with a thousand more units still under construction.

Tour organizers said many people see high rise buildings and believe living downtown means high end prices, but that isn’t the case. Urban Design Center Manager Daniel Douglas said many types of housing are available from affordable to luxury condominiums.

Angelica Kokoszka, who went on the tour Saturday, said she was sure the downtown homes would be out of her price range, but was surprised to see the range in prices.

“I like the idea of being able to walk everywhere…being able to walk to lots of shops and restaurants close by and being in the center of all the action,” Kokoszka said.

The tour featured historic properties, single-family homes, rental units and luxury condominiums.

Some apartments were going for less than $150,000, while condominiums are listed at more than a million.

Douglas said some people just go on the tour for the glimpse into downtown’s housing.

“People really want to see other people’s condos and how they live and what they’re lifestyle is and talk to them,” he said.

Tour organizers said downtown is a different breed of real estate, largely immune from the national foreclosure crisis. Douglas said most of people who buy downtown have a higher equity.