John and Trish Healy are the developers of the new brownstone row houses, The Hargett Place, located in Downtown Raleigh. The project features property priced from $690,000 to $1 million and Trish Healy has said that five units have already sold with the first homeowner moving in as soon as April 1st. They expect the project to be complete in the spring of 2018.
But that’s not all they’re doing in the Raleigh urban core. They also hosted a party in support of the new YMCA coming to Southeast Raleigh that will provide services and support to one of the city’s poorest areas. Tickets were $125 with approximately 350 people attending the event and all proceeds were made out to the YMCA.
There is an excitement in Raleigh’s downtown for The Hargett Place. A real estate project that has captured the attention of Raleigh’s higher priced consumer market has also provided some added support to Raleigh’s more challenging market segment.
Southeast Raleigh is currently undergoing quite a change near Raleigh’s urban core. Neighborhoods surrounding Chavis Park such as Bragg St. and East St., Bloodworth, and Hargett St., to name a few, are all seeing a dramatic makeover where homes are being purchased for rock bottom prices, renovated, and resold at above prices that cannot be afforded by the majority of neighbors who live within those communities.
While projects such as The Hargett Place, and others, have brought a great deal of excitement to many it has also brought scrutiny and concern as many residents worry that the neighborhood they grew up in is being gentrified and poorer to middle class residents are slowly being pushed out of the market.
The only question is as these areas continue to see much needed improvement will they become neighborhoods that only the “well off” can afford or will there be a healthy mix of social and economic diversity?
(Featured Image Courtesy of Triangle Business Journal)