Raleigh: The Location Equation

Downtown plus its surrounding areas (think Glenwood, Crabtree, Five Points and more) equals “Uptown,” a centralized Raleigh location popular with businesses and homeowners alike.

Melissa and Jason Wistehuff finally understand why the real estate mantra “location, location, location” is so important. It’s only been a few months since the couple moved with their 8-month old son, Luca, to Wakefield Development’s Renaissance Park, but every day they’re grateful they’re not logging a lot of miles on the family vehicles, especially now that gas is at the $4-per-gallon mark.

“We love the location,” says Melissa Wistehuff, of living uptown. “We are close to all that downtown has to offer. Our church is downtown, as well as restaurants, nightlife and museums. Our favorite park, Pullen Park, is just up the street. We have easy access to all parts of the Triangle; we are close to I-40, 440, and Highways 70, 1 and 401.”

Housing: the best of both worlds

The truth is, Raleigh has always been a magnet for places and people from its very inception. In 1792, the city of Raleigh was officially established as both the state capital and county seat, in large part because it was in close proximity to Isaac Hunter’s Tavern, a favorite spot for state legislators.

It wasn’t long before neighborhoods, colleges and hospitals followed—including Mordecai, Oakwood, Five Points, Peace College, St. Augustine’s College, North Carolina State University, Rex Hospital and Meredith College, among others.

Undoubtedly, one reason for the area’s success is that Raleigh has no problem revitalizing itself when required. Recently, Raleigh leaders returned the Fayetteville Street Mall to its original condition as a street thoroughfare, complete with sidewalk dining and easier access, due in large part to input from local businesses and residents. And over the past decade, the Glenwood and Five Points area has cleverly designed itself a destination hotspot packed with boutiques, restaurants and, yes, upscale bars.

There is also a wide array of housing available—from historic homes to new construction. Lesley Smith, a NCSU graduate, moved to uptown Raleigh’s Glenwood North neighborhood two years ago from Scranton, PA.

Smith was looking first in a subdivision off Tryon Road. She became enamored with the quality and aesthetics of the homes, built by Standard Pacific Homes. But the Tryon neighborhood was built in an outlying area outside of downtown Raleigh so she kept looking.

“Working with my realtor I was just looking at other townhomes, and I really just never forgot the Standard Pacific homes. I think I was comparing everything I saw to them,” says Smith, 32. “(My Realtor) took matters into her own hands and found out who built the townhouses.” Shortly after, Smith found and bought her 1,800-square-foot townhome in Glenwood North. In the end, it was both the home and location that convinced Smith to buy.

“What I love about this house is that every single thing that I need is within five minutes of my house: the chiropractor, the dry cleaner, Blockbuster, Wal Mart and my gym,” Smith says. “My mom makes fun of me and says, ‘You know there’s more to Raleigh than Glenwood Avenue, Lesley.’”

Smith has one favorite spot that’s just a ten minute walk from her house, the Glenwood Grill. “They have outdoor seating there and everyone that I know goes to Glenwood Grill. Every time I go there there’s someone I know sitting outside having a beer. It’s nice to be close to that kind of a place,” she says.

And although uptown and downtown are both ripe with renovated historic homes, as a new mom, Melissa Wistehuff loves the modern amenities at Renaissance Park. “There is a beautiful pool, which will have a lifeguard, a large, well-equipped workout center, a gorgeous clubhouse modeled after Tryon Palace, tennis courts, beach volleyball and a playground,” she says. "Eventually the plan is to have retail and restaurants at the entrance of the neighborhood, and we can't wait for that.”

“But we also simply loved the style and feel of the neighborhood itself,” Wistehuff continues. “Ours is a Charleston-style home, and so our street has many different colored houses giving it a lot of character and curb appeal.”

Vision of a landmark

The residents are it’s part of the equation to the creation of uptown Raleigh and it’s vitality, but so are those who have the vision to continue to put it at the forefront of the city’s landscape. Sanjay Mundra, founder and principal of the Soleil Group with partner Dickey Walia, is behind the Soleil Center, which he calls a future “landmark.” It’s currently under construction at the intersection of Glenwood and Creedmoor.

The Soleil Center will rise 480 feet above Raleigh’s uptown and will be recognized for its contemporary “curtain wall” design, built to resist air and water infiltration and wind forces. The 665,000-square-foot Center will include a 290-room Westin Hotel, a 30,000-square-foot conference center, a 6,000-square-foot health spa, a 5,000-square-foot indoor fitness center with pool, a restaurant, and fifty-four residences, ranging in size from just under 2,000 square feet to 7,000 square feet.

“We are finishing up the foundation, and we expect to start doing work in about two months,” says Mundra, noting the project should be finished in early 2010. Thirty percent of the residences are under contract. The undertaking of such a project is not without challenges, but Mundra is optimistic.

“We feel, according to the economy and the residential market, that we are doing pretty well,” says Mundra, adding his most expensive penthouse, costing $4 million, is already sold. “The cheapest one is still available,” he laughs. The units range in price from just under $1 million to roughly $4 million.

Mundra has been developing property for more than twenty years. Choosing the location for the Soleil Center was a calculated decision. “This has always been a central location. If you really look at it, the Glenwood/Crabtree Valley area is centrally located to North Raleigh, downtown, RTP, the airport and the RBC center. All of these places are easy to access.”

“The demographics at the Glenwood Crabtree Valley area are excellent,” he continues. “For example, take Crabtree Mall. It’s the oldest mall in the community, but still does the highest per square foot in sales. In terms of retail, it has 240 outlets compared to 140 outlets at other malls which are newer.”

Mundra doesn’t just work and build in Raleigh, he lives there too, so he’s invested in the vision of uptown in more ways than one. “A lot of stuff is happening,” Mundra says. “My partner and I both live in Raleigh. Our kids go to school here. What better place to do something like this?” 

CHRISTA GALA IS A FREELANCE WRITER

Photo of Raleigh Courtesy of Roger Winstead, NC State University