anyone know anything about them?

what they are like inside, what they cost, etc.?

1/12/2007 8:01:06 PM

is this the place over on centennial?

1/12/2007 10:18:13 PM

they're very upscale, and expensive....i think they were around 220k?

1/12/2007 10:35:06 PM

^Basically it, my friend lives in one. The end ones are much bigger, hardwood floors and decent appliances.

1/12/2007 10:39:58 PM

They are very big & very nice. The condo's have 3 floors. The smaller ones are in the low 200's, the bigger ones mid 200's.

These are in very high demand & it may be hard to get one.

One thing to note though, is that you are technically not buying the condo's. You are doing a 99-yr. lease. Granted, that probalby won't affect you, but it may affect resale in the future.

1/12/2007 10:56:55 PM

oh christ

never mind then

1/13/2007 11:03:45 AM

That's the way they have to do it though. The condo's are built on State property after all.

And they are priced relatively low anyway. You won't find condo's that big & nice for less.

[Edited on January 13, 2007 at 11:10 AM. Reason : ]

1/13/2007 11:09:37 AM

i'll bump this to the top since the other one is locked...

there are none currently for sale...there is one for rent by the owner. also, there is no sales office at the time. they have gone up in price...the small ones are around $250K and the larger ones are just over $300k now.

they are great to live in. all have natural hard wood floors, mine definately has stainless steel appliances, which is an upgrade that the owners have an option of doing.

the one for rent is around $1325 i believe.

[Edited on February 1, 2007 at 8:18 PM. Reason : ]

2/1/2007 8:17:44 PM

^ I was going to say... when we looked about buying one over a year ago they were in the $300's then

2/1/2007 8:26:47 PM

rich parents much?

2/1/2007 8:34:46 PM

i worked on a couple of them.. that was a hot summer... they're really nice though from what i could tell... they're plans were to build 28 buildings in all if im not mistaken, but they stopped workin on stuff a long time ago so idk what happened there

2/1/2007 9:17:19 PM

$1325 is cheap as fuck

put 3 people in there you are looking at $442

don't be a bitch

2/1/2007 9:20:55 PM

holler

2/3/2007 9:40:51 PM

Quote :

"they're plans were to build 28 buildings in all if im not mistaken, but they stopped workin on stuff a long time ago so idk what happened there"

Contractor went bankrupt/University was a PITA and had unreasonable expectations/lack of interest.

2/3/2007 11:19:47 PM

Quote :

"Lawsuits filed after development defaulted Jack Hagel, Staff Writer A development group and an investor who partnered to build homes at N.C. State University's Centennial Campus are suing each other in federal court over funding problems at Centennial's North Shore residential project. Comstock Homes of Reston, Va., and Craig M. Davis of Cary partnered as North Shore LLC in 2001 to lease 15 acres from N.C. State. They were going to build 358 townhouses and condominiums on the university's research campus in southwest Raleigh. The homes are a key element to the 1,100-acre park, which was designed to be an around-the-clock business and academic center with clusters of housing, restaurants, classrooms and offices. Because of slack residential demand, only 33 townhouses have been built. The slow going caused the partnership to default on a $2 million loan balance in September. Comstock created Raleigh Resolution LLC, settled the debt and foreclosed on North Shore LLC. It sued Davis in October, claiming he owed $1.6 million of the debt. In a Dec. 1 letter to Comstock CEO Christopher Clemente and chief operating officer Gregory V. Benson, Davis wrote: "We went into this together. All three of us are co-guarantors on the note and I just don't think it's fair that you would ask me to pay it all." In the letter, which was filed with court documents, Davis suggested that he, Clemente and Benson split the balance evenly. No deal was reached. On Dec. 12, Davis asked the court to dismiss the complaint, claiming he wasn't issued certain documents relating to the loan. Ten days later, Davis filed a countersuit that named Clemente and Benson as defendants. Davis is chairman of Craig Davis Properties. But he was only in the North Shore partnership as an individual investor, he says in the lawsuit. Davis claimed the default resulted from "the failure of Comstock to properly manage and market" the project. Davis claims that paying the $1.6 million would damage his reputation and credit rating. He is seeking damages in excess of $75,000. Walter L. Tippett Jr., a Raleigh lawyer representing Clemente, Benson and Comstock, declined to comment. He said he would file a response to the Davis complaint next week. The court this month is expected to set a schedule of filing deadlines that would eventually lead to a trial. A foreclosure auction on the development rights to the 15 acres, which are still technically owned by North Shore, is scheduled March 23. Davis declined to discuss the proceedings Friday, saying only that he expects the issues to be resolved by the end of March. "Everybody's working together to work it out," he said."

http://www.newsobserver.com/104/v-print/story/414118.html

2/3/2007 11:29:56 PM

Quote :

"More parties pulled in to campus suit Dudley Price, Staff Writer RALEIGH - A 10-month legal wrangle over an unfinished housing project at N.C. State University is being broadened to include a state agency and a multibillion dollar pension fund. A motion seeking potentially $33 million in damages from the Board of Trustees of the Endowment Fund of NCSU, GE Asset Management, and developer Craig M. Davis of Cary was filed in Wake Superior Court by an attorney for Reston, Va.-based Comstock Homes on Wednesday. The trustees control development on the 1,100 acre state-owned Centennial Campus, where the disputed housing project was planned. GE Asset Management, with a $192 billion portfolio, is Davis' longtime financial partner. Comstock's motion claims the university didn't provide the amenities needed to market the homes and that GE and Davis didn't meet financial obligations for helping develop North Shore, a 358-unit development of townhomes and condominiums. The motion seeks $11 million in damages, but that amount could be tripled under North Carolina law. Teresa White, an attorney for NCSU, had no comment. A spokesman for GE Asset Corp. said he hadn't seen the motion. The filing stands to further slow development of the project, which was halted in January with only 33 units completed. Comstock and Davis have been filing legal actions in the case since last summer as the two sides argued over the project's value and control of debt crucial to determining who will ultimately build North Shore. In March, Comstock bought the rights to finish the project. But in April, a Wake County Superior Court judge halted the foreclosure sale of development rights until the debt dispute was resolved. Judge Robert Hobgood granted a preliminary injunction sought by Davis after finding that Davis was "likely to prevail" should the case go to trial. Davis and Comstock partnered as North Shore LLC in 2001 to build the housing component of Centennial Campus, which also has offices, businesses, classrooms and labs. But project delays led to the default of a $2 million loan balance in September. Comstock created Raleigh Resolution LLC, which settled the debt and foreclosed on North Shore LLC. In October, Raleigh Resolution sued Davis, claiming he owed $1.6 million plus other expenses. Davis, who developed most of the commercial buildings on Centennial Campus, countersued, claiming he shouldn't have to pay it all. Later, Davis tried to buy out Raleigh Resolution for $2 million and take over the development. But Raleigh Resolution said the price was $4.8 million, the price it bid in March for development rights. That's when Davis was granted a preliminary injunction to stop the sale."

http://www.newsobserver.com/104/v-print/story/446165.html

2/3/2007 11:33:46 PM

Quote :

"New life for condo plans at NCSU Dudley Price, Staff Writer A Reston, Va., company on Thursday bought the rights to finish a disputed residential project at N.C. State University. But a Wake County judge may ultimately decide who builds the townhouses and condominiums. In a foreclosure sale, Comstock Homes bid $4.8 million for rights to the development of 358 units on the Centennial Campus' North Shore. But earlier in the day, developer Craig Davis of Cary filed a lawsuit in Wake Superior Court seeking rights to the project. The developments were the latest in a six-month legal battle between Comstock and Davis involving the project, an important residential component of the West Raleigh campus. The 1,100-acre development, just south of NCSU's main campus, was designed to be a round-the-clock business and academic center with restaurants, offices, classrooms and homes. But only 33 of the planned residential units were built because of slow demand. Construction stopped last fall and may not resume soon, as the legal dispute works through the court. In the meantime, lenders may be reluctant to make loans to potential condo or townhouse buyers. Comstock lawyer Walter Tippett could not say when construction of homes might begin. "Comstock is pleased to recover the development rights but has not decided its next step," he said. Comstock and Davis partnered as North Shore LLC in 2001 to lease 15 acres from NCSU for the housing project. But only a few homes were built, and the slow going caused the partnership to default on a $2 million loan balance in September. Comstock created Raleigh Resolution LLC, which settled the debt and foreclosed on North Shore LLC. In October, Raleigh Resolution sued Davis in federal court, claiming that he owed $1.6 million, plus other expenses. Davis, who built most of the commercial buildings on Centennial Campus, countersued, claiming that the debt should be shared equally. Both sides' lawsuits are pending. In the latest round this week, Davis offered to buy out Raleigh Resolution for $2 million and take over the development. But Raleigh Resolution said the price was $4.8 million. No cash changed hands in Thursday's foreclosure sale because Raleigh Resolution is essentially buying its own debt from the earlier development partnership, North Shore LLC. There were no other bidders, but there is a 10-day legal period when others could submit a higher offer to a trustee handling the sale."

http://www.newsobserver.com/666/story/421459.html

2/3/2007 11:36:39 PM

you realize nobody's reading all that shit, right?

2/4/2007 12:16:31 AM

^it says there's a whole lotta bullshit, and not much building...

On the topic of leasing as opposed to owning, since the value would presumably diminish over time could you depreciate your house on your taxes? B/c that would be the shit

2/4/2007 4:29:36 AM

I dunno but for what those things cost you would have to be mildly retarded to invest in one since its technically a lease. I think when they were started they were priced much higher.

2/4/2007 9:43:43 AM

You should never regard your home as an investment but depending on your particular situation and what benefits you were able to finesse because it's a lease, it could be on par over the long run with buying a house.

If you were able to depreciate it, you didn't have to pay property taxes on it, there were no HOA dues...then it starts looking a lot better. I don't know whether any or all of those might apply, but it'd be worth asking those kinds of questions before discounting it.

2/4/2007 10:31:38 AM

I find this project, as well as, the 4 star hotel to be bizarre, wishful thinking.

If there were any demand for these projects, all the university would have to do is offer to sell or lease land at market prices. But nobody will ever be interested as long as they can expect so much interference from the university.

There's also Venture Place that was built to have restaurants and shops that is sitting empty because the university (and developer) has unrealistic expectations.

2/4/2007 12:05:23 PM

Quote :

"I find this project, as well as, the 4 star hotel to be bizarre, wishful thinking."

It's keeping up with the Joneses--Cornell, Penn State, Michigan State, etc. all have hotels and therefore we should have one too. It's like the administration has a damn complex or something...

2/4/2007 1:18:03 PM

the plans for the new chancellor's house look like a plantation

2/4/2007 1:36:08 PM

now that new residence is horse shit

2/4/2007 1:55:15 PM

I would say that atleast it's privately funded but there are so many better ways to spend $3.3 million; it's a damn shame. Whoever decided to earmark their donations for that shit should be smacked

2/4/2007 2:11:10 PM

Quote :

"now that new residence is horse shit"

At least they've found a tenant

2/4/2007 2:28:17 PM

i dont understand why he needs to be able to entertain 250 people at the chancellor's house

2/4/2007 2:40:34 PM

plz to link chancellor housing plans.


and does anyone have a pic/know what Sidney's house looks like?

2/4/2007 2:42:21 PM

Sidney Lowe's house: http://msweb01.co.wake.nc.us/realestate/photos/mvideo/20060123/DN133314.jpg

2/4/2007 2:45:50 PM

^^, ^ what the hell does that have to do with housing on centennial campus?

2/4/2007 3:16:57 PM

Quote :

"i dont understand why he needs to be able to entertain 250 people at the chancellor's house"

especially since i think it's located right next door to the new alumni center

but i'm just a hating plebeian...i'm sure they've got some reason

here's a link to the story
http://tinyurl.com/2hf9w5

here's some pics





i'm glad they were able to keep the servant's quarters so close to the house

2/4/2007 3:34:38 PM