🏢 Top Five 26.21
👋Welcome to the Top Five, a weekly newsletter by Jed Byrne that demystifies Raleigh development. If a friend sent you this email, you can subscribe below!
Good morning!
Maybe it’s real, maybe it’s the Baader-Meinhof Phenomenon, but I’ve started seeing semi-permanent food trucks all over town. Either way, I’m here for it! It seems like a great low(er) barrier to entry way to create commercial spaces.
Do you have a favorite food truck spot?
Do you have any non-food truck related semi—permanent commercial spaces/businesses that you like?
I’m looking for examples other than food trucks, so if you have them, send them my way!
Best Regards,
Jed Byrne
Advisor & Broker
Oak City CRE, LLC
On to the Top Five! ⤵️
1) North Hills, Expanded: Kane Realty has plans for a 20-story apartment tower, a hotel, age restricted housing, a mid-rise apartment building, and potentially an office building in the 28-acres they recently purchased east of North Hills.
2) Home Ownership: Home ownership for those 25-34 has fallen from ~40% in the 90’s and early-00’s to ~30% nationwide. Raleigh (#16 on the list below) is slightly above average at ~32%.
3) Hayes Barton Restaurant: La Victoria Cocina Mexicana is expanding from Cary to the former Mandolin restaurant location in Hayes Barton.
4) Apartment Construction: National apartment construction is down 73% from the 2022 peak and down ~50% from the long run average from 2016-2021.
5) Not Raleigh: The US has only one of the world's top happiest cities. What makes you happiest about living in Raleigh?
