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RBC Plaza

NovaRaleigh

By NovaRaleigh
in The NC Triangle

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Jones_ City

Jones_

Posted
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Only two units left:

Highwoods Properties converted non-binding reservations to hard contracts for all but two of the 139 condos it is building at RBC Plaza at Fayetteville and Martin streets. The move comes a year earlier than expected. The units, with an average price of about $417,000, will be finished late next year.

IMO this type of demand for high-rise residential (~1 year prior to opening) is the reason that The Edison is moving forward.

I like what this says about residential demand downtown.

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Rascal Unincorporated Area

Rascal

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I like what this says about residential demand downtown.

I think it's interesting and encouraging that RBC seems to have sold its condos without any major snags, even while other projects have started to struggle with sales thanks to all the units in the pipeline. It might be that the high-rise style is enough of a distinguishing feature to tap into a new market segment. That's a good sign for Edision, any new high-rise residential projects, and other alternatives to the 'glenwood south' model.

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ncwebguy Burg

ncwebguy

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The poster in the F Street York Simpson Underwood on Sunday said only *one* unit was left -- a top (room number 33xx) floor unit on (I think) the Martin Street side. Everything else had "sold" stickers on them.

And yes, going from reservations to deposits a year before move-in is a good sign for demand in this project. Or the flippers are well-financed and can let the deposits sit for year.

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RALBOI Whistle-Stop

RALBOI

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Only two units left:

Highwoods Properties converted non-binding reservations to hard contracts for all but two of the 139 condos it is building at RBC Plaza at Fayetteville and Martin streets. The move comes a year earlier than expected. The units, with an average price of about $417,000, will be finished late next year.

IMO this type of demand for high-rise residential (~1 year prior to opening) is the reason that The Edison is moving forward.

Not anymore baby! The RBC plaza website is now reporting that all unit's have soldout. :yahoo::yahoo::yahoo:
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Gard Burg

Gard

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Not anymore baby! The RBC plaza website is now reporting that all unit's have soldout. :yahoo::yahoo::yahoo:

Thats awsome! Selling out this soon will surely catch the notice of other developers as to what types of condos are selling well, which is pretty much a given that we will see many more comparable condos to those in the RBC plaza pop up in the coming years.

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capitalapts Whistle-Stop

capitalapts

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It's nice that the place has sold out, but what does this really mean? If the majority of sells are to individual owners, then that is quite impressive. However, if most units have been bought by leasing agencies to rent them out, I don't perceive that to be nearly as good of an omen as to the downtown housing scence.

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RaleighRob Burg

RaleighRob

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It's nice that the place has sold out, but what does this really mean? If the majority of sells are to individual owners, then that is quite impressive. However, if most units have been bought by leasing agencies to rent them out, I don't perceive that to be nearly as good of an omen as to the downtown housing scence.

True...although if they are rentals and they all get rented out quickly, it'd send the message that a high-rise apartment building would have demand here.

Just a thought.

Of course, that's a big IF. Most of the condo's I've seen around downtown up for rent have been so overpriced they sit empty for months and months. :rolleyes:

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Cary NC Whistle-Stop

Cary NC

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I believe in the contracts there is a provision for not allowing flipping. It basically says that you must live there for two-three years. When it says you it means the person signing the contract must have that as a residence. I saw something on WRAL about a year ago when all the condos were being announced. I will try to dig around to find some sources.

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  • 2 weeks later...
Jones_ City

Jones_

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Hey I was just looking at the webcam today and noticed that a few pains of glass have been put in. They don't have that blue color but it sure looks as though the first couple of window have gone in. Pretty exciting; hopefully we'll see more here soon.

Those are being installed at parking deck levels.

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RDUairport Whistle-Stop

RDUairport

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So the windows over the parking deck area are going to be that different than the rest? Its almost a gray color rather than a darker blueish color. I know it shows it as a bit different in the pictures but will the office and residential sections still have that blueish look to them?

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Jones_ City

Jones_

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So the windows over the parking deck area are going to be that different than the rest? Its almost a gray color rather than a darker blueish color. I know it shows it as a bit different in the pictures but will the office and residential sections still have that blueish look to them?

I am not sure...I was just counting floors. The parking deck area will have to be ventilated....I was expecting some sort of louvers like over at PE II....I am fully expecting the blueish windows above the parking levels though....

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RDUairport Whistle-Stop

RDUairport

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Ok hopefully someone will be able to answer my question. At the southeast corner of the building at the parking deck level the actual corner was not constructed. As you can see from the webcam the hole looks to be the size of a stairwell. Does anyone know what is happening with this corner? I just wanted to know since glass is already going up around the parking deck however this section isn't being worked on at all. Thanks for any information.

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ChiefJoJo Town

ChiefJoJo

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If it's what I think you guys are talking about, it's just a designed setback in the building. See the attached image I just threw together.

If I'm not mistaken, it's the last floorplate for the parking structure. Above that level, the floorplate changes for the office portion, then again for the residential above that.

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RDUairport Whistle-Stop

RDUairport

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ok awesome. thanks for pointing out that in the rendering. I never noticed that setback till now. now it makes more since, because for a while i had no idea what was going to happen right there but it makes since now. I'm guessing that setback continued over to the actual up to date design. thanks again.

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RDUairport Whistle-Stop

RDUairport

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I still can't figure out if I like the windows yet or not. I'll have to wait until there is more of it to really decide. I'm sure either way it'll look good! I'm really excited that the windows are going in at a regular basis now. Does anyone know when we might see the crane be raised again? Its getting somewhat close but I figure it would be a few more weeks.

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