Category: Downtown Living (Page 8 of 11)

“Generation Rent” pushing demand for Downtown apartments

You’ve probably noticed the constructions sites that have sprung up everywhere you look in downtown, from Cameron Village to St Mary’s, to Hillsborough Street.  Having seen past booms that saturated the market with too much office space, too many spec homes and condos that sat empty, some are questioning the wisdom of developers who have jumped into the present apartment building craze.  Here is some perspective for the next time this comes up in a conversation with other downtowners…

This time is different!

Developers and the banks behind them are not taking risky bets this time.  Developers are focusing only on rental units, catering to ‘Generation Rent’.  And Raleigh is part of a national trend, as downtowns have begun growing faster than suburbs for the first time in 100 years!

Rents will not be cheap given downtown land prices, but unit sizes are smaller (lots of one bedrooms), and most important – no downpayment required!  After seeing the generation before them loose so much equity in their homes, renting appeals to young professionals who want more freedom and mobility.

Many of the apartment buildings underway (or planned) fall into the 5-6 story category, which keeps building cost per square foot down compared to taller buildings.  And they’re also mostly located on the periphery of downtown, where land prices are a bit more reasonable.

The one big exception is the recently announced Skyhouse Apartments, which is 23 stories and located in the heart of Downtown’s Raleigh’s business district.  It’s too soon to see if others will follow this lead and bring out more ambitious projects, but it’s worth noting that Charter Square  after some time is finally being actively leased.

Late last year this blog included a post on the planned apartment projects in or near downtown Raleigh.  So how are these projects coming along six months later?

Recently announced

 .
Started construction
.
Active – construction not yet started
.
No activity?

 

If you have any updated information on any of these projects or ones we may have missed, please let our readers know.

The Downtown Urban Lifestyle – Human Interaction in a Human Place

Many of you probably attended the Downtown Raleigh Living Tour a few weekends ago, where urban living options were highlighted in an event sponsored by the Downtown Raleigh Alliance.  As my wife and I were returning home to our condo at 510 Glenwood, we ran into a visitor to our building and regaled him with the glories of living downtown.  His response caught our attention.  He told us that one of the factors that drew him into the city was the passion he observed in the residents who live here.  The truth is that we all do tend to feel strongly that we are on to something.  Often this “something” is intangible, yet we all stumble on words for expressing the vitality and “realness” of living in a setting where people walk, engage with others and feel joint responsibility for their environment.

Bill Steiner, a preservationist who addressed the SC Statewide Preservation Conference (2005) has spent a career analyzing the elements that lend urban lifestyles quality and meaning.  He starts by pointing out that downtown revitalization “…basically means historic preservation.” (This and all other quotes come from his address titled AuthentiCity: Preservation’s Role in Creating Place.  Steiner suggests that by placing more value on historic preservation, we can develop a critical blueprint for our future.  This is especially crucial taking into account the Brookings Institute finding that half of the built environment will be built in the next 25 years.

What are the ramifications of the past decades’ trend toward suburban development?

  • Building neighborhoods by income levels segregates us economically.
  • We interact very little with one another because we are in our cars.

Steiner explains that one of the reasons many Americans describe themselves as feeling bored is because the suburban setting has fostered a lifestyle that is so punishingly the same.  We don’t interact as a people of many colors and interests.  We interact as special interests.  This lack of variety has made our human interaction as generic as everything else around us.

You begin to see the world as narrow because you do not have different perspectives or lifestyles or life experiences to compare and contrast with your own.

The character of downtown living provides chances to meet with, rub shoulders with, talk to those you don’t necessarily plan to, those who are different from you.  People of all stripes mix.  Spontaneity, the unexpected and unplanned happen.  It contributes to the novelty we miss.

How do we build the relationships and experiences that tie us to place? 

Sense of place is provided by the historic core of our communities, which is imperative if we are to begin to recapture fuller lives.  The public realm is where we build the relationships and have the experiences that tie us to place…

The antidote to our unhappiness is feeling like we belong to a place worth caring about, establishing relationships tied to the place through other people – human interaction in a human place.

Reflecting on the benefits of urban life

We’ve all read recently about the split in North Carolina’s attitudes toward the marriage amendment.  This is a clear example of how setting influences people’s outlooks.  People in cities mix with neighbors of all backgrounds and see them as individuals and friends.  This fosters an open mindedness and willingness for attitudes to evolve, becoming ever more inclusive and supportive of others.

My wife and I will continue to regale visitors and friends with the benefits of living in downtown Raleigh.  We’re grateful to Mr. Steiner for his insights and observations that will help us to define a little bit better what we love about our urban lifestyle.

“It’s too expensive to live downtown.” Fact or myth?

Many people love to come downtown to “play”, enjoying the  entertainment and dining choices that a city has to offer, but when considering where they call home, they assume that urban living is too expensive.  Let’s take a closer look.

You don’t need the same size house if you live downtown. 

It’s true that the cost of living downtown is in most cases higher on a per square foot basis, but that should not be surprising.  Raleigh is no different than most other urban centers where land values create a higher density environment. Buildings go up instead of out.  The benefit is that active areas within urban centers are in close proximity to each other, allowing people to walk or use public transit to get with ease from place to place where they live, work and play.

More people today are willing to sacrifice space for a walkable neighborhood.

Compared to the suburbs or smaller towns, you would likely need to be relatively wealthy to live in a similar size house downtown, if you could even find one.  Yet many are beginning to question traditional “outsized fantasies” about a big house being a symbol of success.  According to recent surveys, Most Americans want a walkable neighborhood, Not a Big House.  And More Proof.

Do you really need all that space?

You can buy more house for the money in the suburbs, but if you don’t need all the extra space, the overall cost to live downtown may be the same or less.

Consider these factors.  Younger people looking to keep maintenance costs low are happy to live in a multi-unit settings like small apartments, townhouses or condos.  Imagine not having to need a garage full of lawn and garden equipment to maintain a big yard.  And look at utility costs. Multi-unit living provides a much more efficient interior space for heating and cooling.  Living in a condo, my average electric bill is less than $100.00 per month.

It can undoubtably be a challenge to downsize for people who have collected lots of stuff in a bigger house, but many empty nesters have found the freedom that city living offers.  My wife says downsizing “means getting rid of all the extraneous things and noise in your life that are not contributing to your happiness”.  Her advice is to “get rid of the clutter, and everything around you becomes the things you love”.

Reconsider the value proposition for living downtown.

Living downtown offers a vibrant, unique lifestyle with benefits that add value beyond a simple comparison of cost.   These include:

  • Healthy lifestyle from walking places rather than driving

“3% of Americans live in walkable neighborhoods, though 40% report that they wish to, including 77% of Millennials.”

  • Not having to worry about parking

“Downtowns can’t compete with suburbs for convenient parking.  Instead, convenience must come from walkability and proximity.  You don’t need much parking when people are living nearby, in desirable, walkable places.”

  • Better social experience and networking 

Downtowns facilitate the need and want for social and economic exchange, where convenience and proximately aren’t at odds.”

Finally, I would make the case that downtown living is likely to offer the best long term investment opportunity when compared to suburban areas, as more people choose to make do with less space by living smaller, working closer and shedding excess.

So the next time you hear someone say it’s too expensive to live downtown, you might agree on a per square foot basis, but also suggest that they might want to consider sacrificing some indoor space for the full range of benefits that comes with urban living.  When adding in the positive factors to the environment from less cars on the road, the physical benefits of walking, the social impact of neighbors meeting each other face to face, rather than waving from behind windshields, I’d say that it’s a bargain to live Downtown!

From North Raleigh to Downtown Condo Living: a look back with Kriselie and Manuel Monserrate

Manuel and Kriselie Monserrate

The first time my husband, Jim and I sat over lunch with Kriselie and Manuel was a few years ago at Macaroni Grill at Triangle Town Center, not far from our church located north of I-540.  They were considering downsizing from their house in the suburbs, and wondered about the appeals of living downtown Raleigh.  Flash ahead to now.  With a day’s notice, both couples walked a few blocks from the condo buildings we call home, meeting at Natty Greene’s on Jones Street.  Now it was our turn to wonder.  What would they say, looking back at how their lives have changed?  This is our interview with them.

What was your greatest fear about downsizing and moving downtown?  What scared you the most?

Kriselie:

The unknown!  I had no idea how it would be, living in a smaller space, inside a city.

I also worried that we were ‘giving away’ our house by selling in a down market.  Would we regret that we didn’t wait until the market improved?

Manuel:

We were going against the Play Book!

Everyone we knew was living the American dream with traditional jobs and big houses in the suburbs.  Our family and friends were all doubtful about our decision, pointing out how much we were leaving behind.

Kriselie:

I wondered how it would be different without a yard to take care of on weekends.  What were we going to do with all that extra time?

Another worry was downsizing, having to do away with things we considered valuable.  We decided to do it step by step, and it got easier and easier each time.

Manuel:

Yes, in the beginning Kriselie would look at anything and remember who had given it to her, or where we got it.  Now that we’ve already gone through several downsizing stages, we take a look and say, “We don’t need that! Let’s get rid of it!”

What have been the biggest surprises about living downtown?

Manuel:

The people.  We immediately met people from different backgrounds.  We finally met some couples that have kids AND still want to go out!  People live more.

Things are spontaneous and unstructured, so that you can just walk out your front door and join friends for a quick bite or a cup of coffee.

Kriselie:

Many weeks, we go out every single night.  There’s always something happening and we can decide whether we want to join in at the last minute.

I love walking to so many places: restaurants, the performing arts center, the amphitheater.

You can’t experience this way of life until you live downtown.  It’s freedom.  The fun starts the minute you walk out of your house.  You see friends and things are happening, not like when you drive your car to an event and nothing starts until you’ve arrived.

We’ve found that with the extra time available not taking care of a yard and house, we can explore many more interests everyday.

Kriselie, the focus of your work has really changed too, from your original job in computer engineering to real estate (R-TownLiving) and Namaste-Beauty.com, a website for make-up instruction and product reviews.  How has living downtown influenced those decisions?

Kriselie:

I realized that in my early career, I felt empty.  I was into cutting edge computer technology, which meant long hours at work, and then coming home to working late into the night developing software.  But in my seven years there, only one or two projects actually became products.  It was frustrating.

I really admire people who do what their hearts call them to do.  And being connected to others downtown creates a network of people who inspire each other.  More and more people are doing what they feel passionate about.

My passion is make up. I always looked at actresses and glamorous women in magazines and wondered how they got that look.  Then I came across tutorials on YouTube, where women demonstrated how to do different make up techniques.  They became my teachers.

I was inspired.  I felt a connection with them.  They were the sisters I wish I’d had!

I started practicing and learning, myself.  I realized that I might be able to share my learning through my own video.  That was hard.  Fear kicked in!

Manuel:

Kriselie has always been private, so this felt really exposing.

Kriselie:

But I wanted to share what I loved with others.  That was stronger than my fear.

I think of it as one person watching my video, and I’m talking to them.  At first it felt really weird and awkward to be talking to the camera.

Showing up with no make up expresses real vulnerability.  The first time I saw someone do that, I admired their willingness to reveal themselves, just as they were.

Really, the beauty of internet is that I can communicate without facing a big crowd.  I love making videos and blogging.  People leave comments!  This is a great way of interacting with strangers from all over the world.  At some point, those strangers become really close friends.

What’s next?  Do you think about the next big move?

Kriselie:

Now that we’ve moved and we have much less baggage, we are more open to moving to another city.  But we’re happy right now.

Manuel:

My job connects us here.

We’re very aware of how good this place is, but we’re open to whatever happens.  We were in San Francisco recently and thought about how it would be to live there.  But it seems that the larger the city, the less influence and connection would be possible.

You could live here maybe ten years and be considered for City Council.  In Raleigh, you can talk to the people on City Council and get to know them.  That probably isn’t true in a big city, where you might feel like a very small person.

Kriselie:

In Raleigh, you have a say.  You know what’s going on.  You have a connection.

Raleigh is growing.  This is the time to be part of it and see it take off!

 

Jim and I couldn’t agree more.  Thank you, Kriselie and Manuel for your contributions to downtown Raleigh.  Whether it’s your videos around town, your BEST or DLA involvement, or your pictures of Raleigh sunrises, your inspiration makes the neighborhood shine!


Triangle Wiki: For those who don’t have time to start a blog, but have something to say

Maybe you’re tempted sometimes to blog about a favorite topic like politics, yoga classes, local artists or cycling routes, but don’t want to commit to writing on a frequent basis.  Or perhaps you know a little about local history that’s in danger of being forgotten.  The Triangle Wiki is the place where you can share your knowledge.

A resource for “inside knowledge” on the Triangle area. 

A “wiki” is just an online, editable web site, developed collaboratively by a community of users, and this wiki focuses on the Triangle area.  The goal is to become a resource for “inside knowledge” on the Triangle area.  The Triangle has its fair share of successful websites with restaurant reviews, entertainment calendars, etc., but the information isn’t available in one place – and organizers believe there is a lot more to share.

Anyone can become a contributor of trianglewiki.org to add their knowledge of the Triangle. Contributors can provide written information, maps and photos on any topic that pertains to Raleigh, Durham and surrounding areas.

And you don’t have to be polished writer.  Just create a “seed” page with some photos or a few short sentences, or expand upon the pages started by others.  This article explains How Triangle Wiki works.

Are you ready to participate?  

The Triangle Wiki organizers have set up a Call for Contributors event.

Date: Saturday, February 25, 2012

Time: 9am to Afternoon

Location: Red Hat HQ 1801 Varsity Drive, Raleigh

RSVP

This is yet another example of how community residents are finding ways to get involved and working together to make a real difference in our city.

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