Quality over quantity has paid off for Bloomsbury Estates which has enjoyed steady sales in a downtown market that is flooded with new construction condos. Bloomsbury closed on it's most premier penthouse unit in September and will close on another unit October 12. West at North with 171 total units on 17 floors announced it will auction off 36 units on October 31, 2010. The auction will be held at the Marriott City Center in downtown Raleigh. Developers of The Hue, another multi story condo development 4 blocks east of Bloomsbury Estates has decided to turn the building into an apartment complex with all of its units available for lease.
Says Joe Soto, Bloomsbury Estates penthouse resident, "I looked for a long time before buying my condo and the quality I found at Bloomsbury Estates far exceeded anything else available."
Monday, October 11, 2010
Tuesday, September 7, 2010
New MicroMass Executive Calls Bloomsbury Estates Home
Joe Soto, the newly appointed Executive Vice President and Principal for MicroMass Communications, Inc. headquartered in Cary NC, has purchased and moved into a downtown Raleigh Bloomsbury Estates Condo. Mr. Soto relocated from Philadelphia to the Triangle to direct account management for the growing agency, a leader in behavioral marketing in the healthcare industry. "I wanted a home with the same urban energy I’ve experienced when living in other Metropolitan areas so downtown Raleigh was my choice," says Mr. Soto. "Bloomsbury Estates offered the style and quality that no other property could match."
Mike Richmond of Allen Tate Realty, the Broker representing Bloomsbury Estates adds, "Joe chose Bloomsbury's premier penthouse unit that has an incredible view of Raleigh's skyline and is beautifully appointed. We are proud that Joe chose Bloomsbury Estates over the other fine properties in the downtown Raleigh real estate market and warmly welcome him as one of our residents."
Bloomsbury Estates is a 56-unit condominium development located at the intersection of Boylan Avenue and Hargett Street in downtown Raleigh. More information about Bloomsbury Estates can be found at www.bloomsburyestates.com. Information about MicroMass Communications is available at http://www.micromass.com/.
Mike Richmond of Allen Tate Realty, the Broker representing Bloomsbury Estates adds, "Joe chose Bloomsbury's premier penthouse unit that has an incredible view of Raleigh's skyline and is beautifully appointed. We are proud that Joe chose Bloomsbury Estates over the other fine properties in the downtown Raleigh real estate market and warmly welcome him as one of our residents."
Bloomsbury Estates is a 56-unit condominium development located at the intersection of Boylan Avenue and Hargett Street in downtown Raleigh. More information about Bloomsbury Estates can be found at www.bloomsburyestates.com. Information about MicroMass Communications is available at http://www.micromass.com/.
Tuesday, August 3, 2010
Downtown Raleigh Union Station Will Be 2 Blocks From Bloomsbury Estates
As details unfold about the proposed monorail system and 16,400 square foot Union Station, we will post them here. Bloomsbury Estates is in a perfect location where residents will be able to walk only 2 blocks up Hargett Street to the main entrance. Read the reports and see how it will lay out at these links:
http://www.raleighnc.gov/publications/Planning/Plans_in_Process/Union_Station/Union_Station-Public_Review_Draft.pdf
http://www.indyweek.com/indyweek/dan-douglas-european-vision-for-our-capital-city/Content?oid=1218473
http://travel2.nytimes.com/2006/02/12/travel/12surfacing.html?emc=eta1
http://www.raleighnc.gov/publications/Planning/Plans_in_Process/Downtown_Multi-Modal_Transportation_Center_Phase_2.pdf
http://www.raleighnc.gov/publications/Planning/Plans_in_Process/Union_Station/Union_Station-Public_Review_Draft.pdf
http://www.indyweek.com/indyweek/dan-douglas-european-vision-for-our-capital-city/Content?oid=1218473
http://travel2.nytimes.com/2006/02/12/travel/12surfacing.html?emc=eta1
http://www.raleighnc.gov/publications/Planning/Plans_in_Process/Downtown_Multi-Modal_Transportation_Center_Phase_2.pdf
Wednesday, July 14, 2010
Bloomsbury Estates Featured In Triangle Business Journal Article
Triangle Business Journal Article by Amanda Jones Hoyle
Brisk business at Bloomsbury Estates and West in downtown Raleigh helped fuel a surge in condo and townhouse sales in downtown Raleigh during the second quarter of 2010.
Condo and townhouse sales increased by 50 percent over the first quarter of the year. According to a Downtown Raleigh Alliance report, 35 downtown residences were sold between April and June compared to 19 units sold during the first three months of the year. By another comparison, only 23 condominiums were sold during the second quarter in 2009.
“We expected an increase because more purchases are typically made during the spring, but we didn’t expect it to increase by that much,” says Paul Reimel, economic development manager for DRA.
Bloomsbury Estates and West, two of downtown Raleigh’s newest condominium projects, sold six condo units each during the second quarter, the report states. Reimel says that demand for downtown living will continue to show positive absorption because the Triangle region continues to experience population growth.
Brisk business at Bloomsbury Estates and West in downtown Raleigh helped fuel a surge in condo and townhouse sales in downtown Raleigh during the second quarter of 2010.
Condo and townhouse sales increased by 50 percent over the first quarter of the year. According to a Downtown Raleigh Alliance report, 35 downtown residences were sold between April and June compared to 19 units sold during the first three months of the year. By another comparison, only 23 condominiums were sold during the second quarter in 2009.
“We expected an increase because more purchases are typically made during the spring, but we didn’t expect it to increase by that much,” says Paul Reimel, economic development manager for DRA.
Bloomsbury Estates and West, two of downtown Raleigh’s newest condominium projects, sold six condo units each during the second quarter, the report states. Reimel says that demand for downtown living will continue to show positive absorption because the Triangle region continues to experience population growth.
Tuesday, July 13, 2010
Fast Train Route Could Detour Raleigh's Scene
July 12, 2010
Bloomsbury Estates is located in the southeast corner of Downtown Raleigh and will not be affected by the Fast Train Route.
From the News & Observer: Brad Hurley says he appreciates what high-speed rail service will do for Raleigh, but he worries that a new plan for fast trains could kill a downtown corner where he has served beer and oysters for 23 years.
"It sounds like 'pick your poison,' " said Hurley, co-owner of the 42nd Street Oyster Bar at Jones and West streets. Pulsing with pubs and eateries, Jones Street has become a crucial conduit between downtown Raleigh and the thriving Glenwood South district just west of railroad tracks that roll through the city.
Jones was a drab side street, with broken windows and padlocked doors, when the restaurant opened in 1987. If you stand at Hurley's corner today, you can see high-rise condos in three directions. The state Department of Transportation is evaluating two routes through Raleigh for the Southeast High Speed Rail Corridor, which would give passenger trains a fast new shortcut to Richmond, Va. The proposed new track would cut nearly two hours from train trips between North Carolina and the Northeast.
Both Raleigh route options would constrict Jones Street but in dramatically different ways. The choice could help shape downtown growth for decades to come.
"It's a very important decision," Mayor Charles Meeker said. "On one hand, we want passenger rail service with high-speed trains. On the other hand, we don't want the downtown to be hard to walk or drive around."
Traffic flow is sure to change, because every street-rail crossing on the 162-mile track from Raleigh to Richmond will be either closed or replaced with a bridge. The aim is to prevent collisions with trains that would roll through Raleigh at 30 to 60 mph - and, farther up the line, as fast as 110 mph.
The two routes under consideration would close different downtown streets in a two-mile stretch between Jones Street and Wake Forest Road. These tracks now carry freight trains past old residential neighborhoods - Five Points and Mordecai - on opposite sides of Capital Boulevard.
If the DOT chose to follow Norfolk Southern tracks along Capital's west side, Jones Street would be closed at the rail crossing. That would sever the path to Glenwood South and the bars and restaurants east toward downtown. Pub crawlers would have to find a less direct route, passing under the tracks on North Street or over them on Hillsborough.
Under the second option, using the CSX rail corridor on the east side of Capital Boulevard, Jones Street would stay open.
But the street would be transformed into a giant viaduct, elevating Jones for almost four blocks between Boylan Avenue and Dawson Street. Cars and pedestrians would pass high above Glenwood, the train tracks and West Street - and bars and restaurants below. The CSX option also would close West and Harrington streets just north of Jones. The result: New barriers for residents and businesses just north and west of the CSX tracks. If, for instance, residents of the 17-story West at North condo tower wanted to dine at the 42nd Street Oyster Bar across the West Street tracks, they would have to circle a few blocks down to Hillsborough Street - and approach from the south. That prospect makes Hurley grimace.
"Closing down Jones Street just makes me sick," he said. "But if they build that bridge and close down West Street, that might just put us out of business."
As restaurateurs, developers and downtown dwellers chew over the alternatives, an emerging consensus appears to share Hurley's view: The Norfolk Southern option would be less disruptive to the neighborhood, even though it would cut Jones Street in two. Nor would it cross West and Harrington, so both streets would remain open as vital paths for downtown commerce. No one has spoken up for putting Jones Street on stilts.
"I'm not in favor of a bridge from Boylan Avenue that spans 1,300 feet and goes past Harrington, because it's going to destroy those businesses there," said Stephen Votino, 40, who overlooks the tracks from his fourth-floor apartment in Glenwood South. "And aesthetically, it's not going to look good."
Niall Hanley, who has three restaurants along Glenwood, says closing West and Harrington would isolate Glenwood South from the rest of downtown. Turning Jones into a big bridge would be worse than closing it at the tracks, he said. "I would hate to lose two streets and have this monstrous viaduct," Hanley said.
Federal rail design standards require crossings to be closed or bridged only if trains run faster than 110 mph. North Carolina would have the option to keep some crossings open, with multiple safety gates and other protections to reduce the chance of trains hitting cars and pedestrians. But state DOT officials say it will be much safer not to have people walking or driving across the tracks.
"We're not going 110 mph in downtown Raleigh, but we know the safest way to design a transportation system for the future is to separate highway and rail," said Pat Simmons, the state DOT Rail Division director.
Downtown commerce and traffic aren't the only factors that will come into play as city, state and federal agencies weigh the choices. Historic properties and environmental questions must be considered, but they don't appear to make a significant difference for the two options. The Norfolk Southern route would displace as many as 54 businesses including warehouses, building and auto supply shops, a taxi stand and possibly a concrete firm served by the freight tracks. The CSX route would displace up to 23 businesses.
Five Points residents have expressed concern that the Norfolk Southern option would close a rail crossing at Fairview Road. But some dropped their objections when they learned that a closed crossing means approaching trains no longer would sound their horns.
Still, not everyone is on board with the Norfolk Southern route - least of all, Norfolk Southern. The new track would pass through a rail yard where switching engines move freight cars around and assemble them into trains, and it would displace the railroad's local office.
Its passenger policy director, John V. Edwards, warned city officials in a June 9 letter that routing high-speed trains through the Norfolk Southern corridor would worsen rail congestion, cause environmental and economic harm, and undermine the city's plans for a combined Amtrak and transit depot on West Hargett Street. CSX has not commented on the proposals.
Neither proposal would displace any residences, but the Norfolk Southern route would slice through the backyards of four homes on Bickett Boulevard, in the historic Roanoke Park neighborhood near Five Points.
Scott Kauffman doesn't want to lose his garage and about half of the lush backyard he and his cat share with a surprising variety of urban wildlife: a red-tailed hawk, a raccoon and feral felines that jump off passing freight trains to raid the pet-food bowl on his porch. Recently his personal park attracted another wild visitor: a coyote.
"This is a little sanctuary for me," said Kauffman, 50, a nurse anesthetist. "With Capital Boulevard nearby, you would think it would be noisy. But it's so quiet here when I'm sitting on my porch."
By early next year, DOT officials expect to pick their preferred route for the entire Raleigh-to-Richmond line. Then they'll push for federal funding to finish the engineering work, buy the necessary right of way, and start construction. The trains could be rolling as soon as 2017 if everything works out, but North Carolina will be competing with other states for money to build the national high-speed rail network envisioned by President Barack Obama. North Carolina and Virginia won $620 million in federal high-speed rail grants this year and are seeking about $3 billion more to build the new line.
"This is really the new interstate system," said Greg Hatem, a downtown Raleigh developer with properties on both sides of the tracks. "The impact is going to be similar, and I don't think a lot of other communities are preparing for this. We need to be sure we embrace the concept, and have the best solution for downtown Raleigh."
Bloomsbury Estates is located in the southeast corner of Downtown Raleigh and will not be affected by the Fast Train Route.
From the News & Observer: Brad Hurley says he appreciates what high-speed rail service will do for Raleigh, but he worries that a new plan for fast trains could kill a downtown corner where he has served beer and oysters for 23 years.
"It sounds like 'pick your poison,' " said Hurley, co-owner of the 42nd Street Oyster Bar at Jones and West streets. Pulsing with pubs and eateries, Jones Street has become a crucial conduit between downtown Raleigh and the thriving Glenwood South district just west of railroad tracks that roll through the city.
Jones was a drab side street, with broken windows and padlocked doors, when the restaurant opened in 1987. If you stand at Hurley's corner today, you can see high-rise condos in three directions. The state Department of Transportation is evaluating two routes through Raleigh for the Southeast High Speed Rail Corridor, which would give passenger trains a fast new shortcut to Richmond, Va. The proposed new track would cut nearly two hours from train trips between North Carolina and the Northeast.
Both Raleigh route options would constrict Jones Street but in dramatically different ways. The choice could help shape downtown growth for decades to come.
"It's a very important decision," Mayor Charles Meeker said. "On one hand, we want passenger rail service with high-speed trains. On the other hand, we don't want the downtown to be hard to walk or drive around."
Traffic flow is sure to change, because every street-rail crossing on the 162-mile track from Raleigh to Richmond will be either closed or replaced with a bridge. The aim is to prevent collisions with trains that would roll through Raleigh at 30 to 60 mph - and, farther up the line, as fast as 110 mph.
The two routes under consideration would close different downtown streets in a two-mile stretch between Jones Street and Wake Forest Road. These tracks now carry freight trains past old residential neighborhoods - Five Points and Mordecai - on opposite sides of Capital Boulevard.
If the DOT chose to follow Norfolk Southern tracks along Capital's west side, Jones Street would be closed at the rail crossing. That would sever the path to Glenwood South and the bars and restaurants east toward downtown. Pub crawlers would have to find a less direct route, passing under the tracks on North Street or over them on Hillsborough.
Under the second option, using the CSX rail corridor on the east side of Capital Boulevard, Jones Street would stay open.
But the street would be transformed into a giant viaduct, elevating Jones for almost four blocks between Boylan Avenue and Dawson Street. Cars and pedestrians would pass high above Glenwood, the train tracks and West Street - and bars and restaurants below. The CSX option also would close West and Harrington streets just north of Jones. The result: New barriers for residents and businesses just north and west of the CSX tracks. If, for instance, residents of the 17-story West at North condo tower wanted to dine at the 42nd Street Oyster Bar across the West Street tracks, they would have to circle a few blocks down to Hillsborough Street - and approach from the south. That prospect makes Hurley grimace.
"Closing down Jones Street just makes me sick," he said. "But if they build that bridge and close down West Street, that might just put us out of business."
As restaurateurs, developers and downtown dwellers chew over the alternatives, an emerging consensus appears to share Hurley's view: The Norfolk Southern option would be less disruptive to the neighborhood, even though it would cut Jones Street in two. Nor would it cross West and Harrington, so both streets would remain open as vital paths for downtown commerce. No one has spoken up for putting Jones Street on stilts.
"I'm not in favor of a bridge from Boylan Avenue that spans 1,300 feet and goes past Harrington, because it's going to destroy those businesses there," said Stephen Votino, 40, who overlooks the tracks from his fourth-floor apartment in Glenwood South. "And aesthetically, it's not going to look good."
Niall Hanley, who has three restaurants along Glenwood, says closing West and Harrington would isolate Glenwood South from the rest of downtown. Turning Jones into a big bridge would be worse than closing it at the tracks, he said. "I would hate to lose two streets and have this monstrous viaduct," Hanley said.
Federal rail design standards require crossings to be closed or bridged only if trains run faster than 110 mph. North Carolina would have the option to keep some crossings open, with multiple safety gates and other protections to reduce the chance of trains hitting cars and pedestrians. But state DOT officials say it will be much safer not to have people walking or driving across the tracks.
"We're not going 110 mph in downtown Raleigh, but we know the safest way to design a transportation system for the future is to separate highway and rail," said Pat Simmons, the state DOT Rail Division director.
Downtown commerce and traffic aren't the only factors that will come into play as city, state and federal agencies weigh the choices. Historic properties and environmental questions must be considered, but they don't appear to make a significant difference for the two options. The Norfolk Southern route would displace as many as 54 businesses including warehouses, building and auto supply shops, a taxi stand and possibly a concrete firm served by the freight tracks. The CSX route would displace up to 23 businesses.
Five Points residents have expressed concern that the Norfolk Southern option would close a rail crossing at Fairview Road. But some dropped their objections when they learned that a closed crossing means approaching trains no longer would sound their horns.
Still, not everyone is on board with the Norfolk Southern route - least of all, Norfolk Southern. The new track would pass through a rail yard where switching engines move freight cars around and assemble them into trains, and it would displace the railroad's local office.
Its passenger policy director, John V. Edwards, warned city officials in a June 9 letter that routing high-speed trains through the Norfolk Southern corridor would worsen rail congestion, cause environmental and economic harm, and undermine the city's plans for a combined Amtrak and transit depot on West Hargett Street. CSX has not commented on the proposals.
Neither proposal would displace any residences, but the Norfolk Southern route would slice through the backyards of four homes on Bickett Boulevard, in the historic Roanoke Park neighborhood near Five Points.
Scott Kauffman doesn't want to lose his garage and about half of the lush backyard he and his cat share with a surprising variety of urban wildlife: a red-tailed hawk, a raccoon and feral felines that jump off passing freight trains to raid the pet-food bowl on his porch. Recently his personal park attracted another wild visitor: a coyote.
"This is a little sanctuary for me," said Kauffman, 50, a nurse anesthetist. "With Capital Boulevard nearby, you would think it would be noisy. But it's so quiet here when I'm sitting on my porch."
By early next year, DOT officials expect to pick their preferred route for the entire Raleigh-to-Richmond line. Then they'll push for federal funding to finish the engineering work, buy the necessary right of way, and start construction. The trains could be rolling as soon as 2017 if everything works out, but North Carolina will be competing with other states for money to build the national high-speed rail network envisioned by President Barack Obama. North Carolina and Virginia won $620 million in federal high-speed rail grants this year and are seeking about $3 billion more to build the new line.
"This is really the new interstate system," said Greg Hatem, a downtown Raleigh developer with properties on both sides of the tracks. "The impact is going to be similar, and I don't think a lot of other communities are preparing for this. We need to be sure we embrace the concept, and have the best solution for downtown Raleigh."
Thursday, June 3, 2010
Bloomsbury Estates Secures Financing With Fifth Third Bank
We are happy to announce that we have secured a definitive 2 year agreement with Fifth Third Bank. Headquartered in Cincinnati, Ohio, Fifth Third Bank has its North Carolina headquarters in Charlotte and plans on opening several bank branches in the Raleigh and Charlotte areas.
Mike Richmond of Allen Tate Realtors who is marketing the condos adds that, “Bloomsbury Estates is well positioned to successfully market the remaining units to buyers interested in quality housing located in the desirable downtown Raleigh area, and the loan agreement reinforces their confidence. This coupled with financing alternatives by Fifth Third, RBC Bank and MetLife make Bloomsbury an extremely attractive proposition. Bloomsbury is in a class by itself for architecture, finishes, location and amenities and we are excited about the momentum in the marketplace and the feedback we are receiving from buyers.”
Mike Richmond of Allen Tate Realtors who is marketing the condos adds that, “Bloomsbury Estates is well positioned to successfully market the remaining units to buyers interested in quality housing located in the desirable downtown Raleigh area, and the loan agreement reinforces their confidence. This coupled with financing alternatives by Fifth Third, RBC Bank and MetLife make Bloomsbury an extremely attractive proposition. Bloomsbury is in a class by itself for architecture, finishes, location and amenities and we are excited about the momentum in the marketplace and the feedback we are receiving from buyers.”
Tuesday, April 27, 2010
Bloomsbury Estates Sponsoring Downtown Raleigh Home Tour
Come see us on Saturday, May 15 for the 6th Annual Downtown Raleigh Home Tour. Several downtown Raleigh new home communities will be open on Saturday from 10am to 5pm, with Bloomsbury Estates open Friday noon to 5pm, Saturday 10am to 5pm, and Sunday noon to 5pm. For Ticket information, visit http://www.downtownraleighhometour.com/.
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