Tired of bad news? How about some good news as we start the month of February? Well, we are more than happy to provide that to you. These items provide hope amid all of the troublesome stories we have read recently.
Local Real Estate Searches Are Up
If you first read this blog in December while looking for information about the Triangle’s real estate scene, you were part of a huge group. According to Realtor.com, the Raleigh-Durham-Chapel Hill market experienced a dramatic year-over-year 18.2 percent increase in search activity that month. The area was the 24th most searched market in December, beating Charlotte and the Triad (Greensboro-High Point-Winston-Salem) markets as the most searched one in the state. In all, nearly 14 percent more people searched for real estate in the Triangle in December than in November.
While this sounds encouraging, there is of course a world of difference between searching for real estate and actually purchasing it. Still, it is a very hopeful sign that this market will rebound soon from the downturn that has afflicted the country.
Raleigh City Plaza Gets First Tenant
Jimmy John’s, a gourmet sandwich restaurant franchise, has signed up to occupy the first of four future retail pavilions at the City Plaza on Fayetteville Street. The City Plaza extends Fayetteville Street south to connect with Lenoir Street in downtown Raleigh. When it opens to the public later this year, the plaza will include 45-foot-tall light towers, a motion-sensitive water fountain and four retail pavilions.
Construction of the $14.8 million plaza began last year. The city plans to open the plaza Oct. 23 as part of the Raleigh Wide Open 4 celebration. Jimmy John’s will open that date as well.
Jimmy John’s was founded in 1983 by 19-year-old Jimmy John Liautaud in a converted garage in Charleston, Ill. Since its inception, the company has grown to over 740 corporate and franchised locations in more than 37 states throughout the United States, including two locations in Raleigh. Its new location will help solidify the growing popularity of attending and enjoying events in downtown Raleigh.
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