Wake County is one of the ten fastest growing counties in the nation, according to CNN Money, but can the recent supply boom of condos in downtown Raleigh be sustained?
Many of the condo projects in Raleigh still have several units left as buyers cannot differentiate the product. Granite counters? Check. Maple cabinetry? Check. Rooftop pool? Check. Let’s face it, people are not jumping at each others throats to live in Downtown Raleigh. But why would anyone chose to live somewhere else?
In grade school all of the developer’s kids were the ones with that extra sense of privilege- it seems so obvious now that they got it from their parents. Raleigh is one of the fastest growing cities in the nation; as it grows, you have to wonder how the developers who profit most from this growth, acquired their sense of privilege. It seems they are justified in this because much of the city and county commissioners agree developers should get what they want at the expense of citizen’s dollars. You may have been following our discussion of John Kane’s plan to get every tax paying citizen in Raleigh to pay for his parking decks. After all, it is the citizens that will be blessed with his forth coming onslaught of Starbucks (the existing North-Hills-mush includes 3) and pseudo urban pastiche.
Mayor Charles Meeker denied developer John Kane on thursday by sending a memo to city council opposing potential plans to provide the developer with $75 million in public financing for a planned project.
The mysterious Over the Top / Inside the Beltline blog has been such a wonderful resource for tracking the irresponsible construction occurring inside of old Raleigh. The two authors seem to be writing under pseudonyms, Fallonia Parker and Irena Dorton, inspired by local landmarks. Regardless of their identity- they are pointing toward both thoughtful and ignorant commentary on the subject of McMansion-biggie-sized development that is occurring at certain Raleigh addresses.
Recently they cited the share.triangle.com triangle ongoing ‘discussion’.
The pulse of downtown has quickened and one can predict the positives of yesterday’s council approval of the design phase for four glass retail pavilions. These spaces are somewhat reminiscent of the NYC Apple cube as they rise from the ground within an open square. We look forward to seeing more as the plans develop. The Simpson Organization is responsible for the space- owning the proximal Bank of America building.
Click the image above to see the whole scene.
There is a 5 million dollar gap in the money the city council has approved (16 million) and the budget (21 million) for this project. The council has asked Russell Allen, City Manager, to find a way to meet that budgetary gap. One of the recommended solutions is cutting the extent of this plan, the first thing we would see removed would be the lighting, concert facilities, and water/fountain features. Don’t let this happen, contact your council member and let them know you need the project fully financed. If this project gets partially funded it seems the first thing the city will loose are the portions that the public will enjoy most.
