The Real Estate Report
Local Government News Impacting the Real Estate Industry
Breakfast with Congressman David Price-November 13
Members of the GCHAR will receive the $25 member rate; cost is $35 for non-members. You can register online by clicking here or by calling 967-7075. This event is sponsored by: AICPA, the Daily Tar Heel, AT&T and 1360 WCHL. More sponsorship opportunities are available, please contact Karen Bonardi at 967-7076.
300 E. Main Approved
Buckhorn Village Gets Go-ahead
Woodmont Will Move Forward
Representatives from Capital Associates in Cary, who are in charge of the development, presented materials and plans for the proposed 33-acre site that will house office space, condominiums and retail. For the full story, click here.
School Number 11 Takes Shape
Orange County SAT Scores Up from 2006-07
Orange High School saw the biggest gain from its 2006-07 scores — 1039 versus 999 — a 40-point jump. The number of students who took the SAT was also up, from 161 to 126, which translated to 72.5 percent of the seniors, an 8.1 percent increase from 2006-2007. To see how Orange County and other North Carolina schools did, click here. For the full story, click here.
Board Approves Technology Pilot Program
Bill Thorpe, Long-Serving Councilmember, Dies
Halloween Changes Set
• Downtown street closures beginning at 9 p.m.
Overview of Chapel Hill Development Projects
Downtown Parking Study Finalized, Input Encouraged
Unemployment Rate Drops Across Triangle
Consultant’s Study Describes Airport’s Economic Potential
Leaders Call for a Better Brand
OWASA Approves Water Restriction Changes
County Officials Weigh 2009-10 Budget Issues
But Coffey said the predicted shortfalls may not be as drastic as the early report indicates, so county officials are not yet taking action. Coffey said it is too early to predict exactly what the budget will look like for the next fiscal year, and real budget discussions won’t begin until early 2009. For the full story, click here.
$650 Million Railroad Expansion Proposed
The project could cost as much as $2 million to $9 million per mile, including a possible $23.6 million expansion that will extend to Chapel Hill, said Scott Saylor, president of the N.C. Railroad Company. David Bonk, Chapel Hill long range and transportation coordinator, said Durham, Wake and Orange counties are currently discussing the possibility of incorporating rail into their transportation systems in the next 25 years. For the full story, click here.
Durham Plant Closing; 428 to Lose Jobs
Credit Crunch Delaying Chatham School
Raleigh Plaza Breaks Ground
Real Estate Market to Hit Bottom in 2009
According to the report, moderate-income apartments in core urban markets near mass transit offer the best investment opportunities, a consistent trend from the previous year. Downtown office space is expected to outperform suburban markets and retail development is generally near the bottom but still has a bit farther to fall. The housing industry faces more foreclosures and likely no rebound in values for 2009, according to the report. For the full story, click here.
The Real Estate Report is produced monthly by the Chapel Hill Chamber of Commerce and the Greater Chapel Hill Association of Realtors