{"id":137474,"date":"2016-10-27T05:00:56","date_gmt":"2016-10-27T09:00:56","guid":{"rendered":"http:\/\/raleighpublicrecord.org\/?p=137474"},"modified":"2016-11-02T20:26:40","modified_gmt":"2016-11-03T00:26:40","slug":"development-beat-a-nice-price-near-the-ice","status":"publish","type":"post","link":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/news\/development-beat\/2016\/10\/27\/development-beat-a-nice-price-near-the-ice\/","title":{"rendered":"Development Beat: A Nice Price Near The Ice"},"content":{"rendered":"

Brought to you by Rufty-Peedin Design Build<\/strong><\/em><\/p>\n

Thursday,\u00a0October 27, 2016<\/strong><\/p>\n

Q:<\/strong> What does a Carolina Hurricanes fan do when his team wins\u00a0the Stanley Cup?
\nA:<\/strong> He turns off the PlayStation.<\/p>\n

Carolina Hurricanes fans may not* have had a lot to get excited about over the last few seasons, but a brand-new study from our friends over at RentCafe<\/a> could finally give them something to boast about.<\/p>\n

\"The<\/a>

James Borden \/ Raleigh Public Record<\/p>

The\u00a0PNC Arena is home to the Carolina Hurricanes NHL team<\/p><\/div>\n

It turns out, the NHL stadium apartment proximity premium in Raleigh is only three percent, making the Hurricanes the third-cheapest professional hockey team in the United States to rent an apartment near.<\/p>\n

What’s that? You’ve never heard of the NHL stadium apartment proximity premium? We more or less made it up, but it’s based off that RentCafe study we mentioned earlier.<\/p>\n

Using data from Yardi Matrix, RentCafe ran an analysis on the 23 U.S. cities with a professional hockey team and found\u00a0rents to be an average of 27 percent higher within a two-mile radius of the arenas.<\/p>\n

Not surprisingly, cities with arenas located in the heart of their downtowns were ranked near the top of RentCafe’s list. The Columbus Blue Jackets, a team I’ve never even heard of, ranked number one.<\/p>\n

The average rent in the city of Columbus is $837; within a two-mile radius of Nationwide Arena, the rent is 69 percent higher:\u00a0$1,354. Oosh.<\/p>\n

Like most modern-day sports arenas, Columbus’ Nationwide Arena is much more than just a house of hockey: it also hosts a range of blockbuster live events, like the NCAA Basketball Tournament and UFC fights.<\/p>\n

\"Nationwide<\/a>

Nationwide Arena<\/p><\/div>\n

When researching this article, we came across a great piece<\/a> in The Wall Street Journal (the country’s best newspaper) about the demise of old NHL “barns” \u2014\u00a0spartan, cramped arenas where “seats not only lack legroom; they also don\u2019t match. Some seats in the upper levels are so worn that you can\u2019t tell for sure what color they are.”<\/p>\n

The WSJ article also described the NHL as a league “whose strength is\u00a0the fan experience at its games.” Even as a non-sports fan I’m inclined to agree: in my hometown of Philadelphia I could never afford to attend a Flyers game, but I saw plenty of Phantoms games at the Spectrum, before it was torn down and the Phantoms temporarily relocated to New York. I always had a blast, so it makes complete sense to me why die-hard hockey fans would perhaps be willing to pay a premium to live near the stadium.<\/p>\n

\"Before<\/a>

Before it was torn down, the seats were removed from the Spectrum Arena and sold off for $395\/pair by a New Jersey businessman.<\/p><\/div>\n

But let’s get back to the other article that’s the actual subject of today’s post: “True Hockey Fans Pay a High Price to Live Close to Their Favorite Arenas<\/a>.”<\/p>\n

As with the Columbus Blue Jackets, the second-highest ranked team on the RentCafe list, the Nashville Predators, have a stadium that’s located in the heart of downtown.<\/p>\n

Opened in 1996, the Bridgestone Arena is also a multipurpose venue, and was even the home stadium of the Arena Football League’s Nashville Kats back when people thought combining professional wrestling with professional football was a good idea.<\/p>\n

\"This<\/a>

This looks like the kind of place that would host Arena Football<\/p><\/div>\n

The average rent in Nashville is $1,149 and the rent within a two-mile radius of Bridgestone is $1,911: a 66 percent increase.<\/p>\n

Interestingly, number three on RentCafe’s list has more in common with the Hurricanes and another lowly ranked team, The Philadelphia Flyers, in that it’s located outside of the city’s downtown area.<\/p>\n

The Tampa Bay Lightning’s Amalie Arena is located between the highway and the commercial waterfront sections of town, yet the rent there is on average 65 percent higher at $1,822 than the city’s average of $1,103.<\/p>\n

As we mentioned, fans wishing to live within two miles of PNC Arena only need pay a three-percent premium, as the average rental rate in that area is $1,064 vs. Raleigh’s\u00a0average of\u00a0$1,029.<\/p>\n

If the ‘Canes can turn things around this season \u2014 and it doesn’t look like it’s off to a promising start \u2014 those figures may change. In the meantime, if you’re a hockey fan living in Raleigh who’s looking for a new apartment, now’s the time to rent.<\/p>\n

\"Glory<\/a>

Glory days<\/p><\/div>\n

*”May not” because I don’t follow hockey and have no idea how excited or not Hurricanes fans have been in the last few years. I\u00a0spent about 5 minutes on Google trying to find out if the Hurricanes\u00a0were\u00a0considered a good hockey team.\u00a0It looks like they’ve missed the playoffs for six straight seasons, so I figured the answer was no. The opening joke was stolen from the Carolina Hurricanes section on Jokes4Us.com<\/a>.<\/p>\n

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