Tuesday, January 5, 2016

Blount Street Commons Wrap up

As we begin 2016, it’s hard to believe that back in 2011 Blount Street Commons was mostly vacant land. Once the major development for the north end of town, the project had stalled during the downturn.  When I joined the project it was clear that the market had shifted and that it wasn't likely that the historic homes and lots would be sold as residential. That spurred the Missing Middle post back in 2012. I still think that there is an opportunity for a low rise community, especially with one-level living, but that's for another post. 

Thankfully the economy turned around and now the first phase (2 blocks), as it was once known, is complete.  The other 3 blocks originally part of the plan were kept by the State. It is very nice to see the neighborhood come together as one cohesive unit. Here’s a recap of the results:

Row and Carriage Homes

Stanley Martin has sold out of both the carriage homes, row homes, and the new condos along Person Street. 

Historic houses and lots sold

A new residential house is being built by Rufty Homes.

The Merrimon Wynne house is a successful wedding venue and they are building a new building on the lot next door for receptions and general expansion.

The Cowper house was purchased by Legacy Homes and renovated for commercial use and  was purchased by Robertson Law

Lewis Smith house was purchased and renovated by Hobby Properties. 

Russ house is now the home of Gallery C .

Person Street Homes Sold

The homes located south of the Murphy School were listed for sale by the State in 2015 and they are under contract

Elan City Center Apartments

Almost complete, the apartments at the corner of Polk and Wilmington streets are about to open. 

Holy Trinity Church

Completed in 2015, the church is now open

Peace Street Townes

The 17 townhouses fronting Peace Street closed in 2015. This was originally going be a 4 story condo building in the earlier plan with $600k condos, so I'm sure the buyers here appreciated the more accessible pricing. Smaller 2 bedroom units sold in the mid $200's.

Now that this neighborhood is completed, let's hope that Gov McCrory's Project Phoenix will further activate the north end of town and the Government Complex to better connect it to the city core. 


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