New homes starting at $1.385 million are under construction in Downtown Raleigh near Shaw University.
A development team that includes Chappell, Concept 8 Holdings, The Raleigh Architecture Company and Southern Energy Management NC is building Idyle, a 10-home “net-zero-energy-ready” community.
Johnny Chappell, owner/broker with Chappell, said the team started construction this past summer and that the first homes will be ready for move-in in the second quarter of 2024. The goal is to have two homes sold by the end of 2023 and have all homes constructed by fall 2024.
“As a development group, we look to do things differently, if possible, we’ve made our mark by not doing ‘same old, same old.’ We’re heard from a lot of consumers who are demanding a product that performs better than the average house,” Chappell said. “It’s a combination of being able to bring something cutting-edge and new to Raleigh and also feel good about being better stewards of the environment and the planet.”
Chappell said the development will cost about $11 million. Home Trust Bank is providing a construction loan. The homes will be at 501 S. Bloodworth St., near Guest House Raleigh and Transfer Co. Food Hall.
The development is the latest-group of million-dollar homes to rise in Raleigh, where homebuyers on the higher end of the market are often paying cash to avoid higher mortgage rates. But the trend also points to the city’s growing affordability gap.
Floor plans include three to four bedrooms, single-car garages, high-end induction stoves, hardwood floors, floating stairs, balconies and rooftop patios with views of Downtown Raleigh. The homes will be around 2,700 square feet.
The attached homes will have EV hookups, solar panels, high-performance systems and air-tight insulation. Southern Energy, the same company that validated “net-zero-energy” capabilities of another new residential development in Raleigh, is also validating the Idyle homes.
The townhomes are on the edge of Downtown Raleigh’s core and near Transfer Co. Food Hall.
Homeowners will be able to monitor and analyze their energy usage through a dashboard supplied by Southern Energy.
“Innovative building performance strategies, electricity-producing solar arrays, energy-efficient systems and appliances, expressive architectural elements and naturally lit interior spaces all contribute to a net-zero capable living environment,” said Robby Johnston, owner and co-founder of The Raleigh Architecture Company and The Raleigh Construction Company.
The homes will also have optional Tesla Powerwalls. Homebuyers who buy early will have the option to customize certain finishes and aspects of the design process.
The homes will have private rooftop patios with solar panels above.
The area east of Downtown’s core is heating up with development. Shaw University now has approval for developments up to 20 and 30 stories on campus and has started the process to develop a master plan.
High-end townhome developments continue to dot the area around Downtown Raleigh. Those include Garner Road Townhomes and eight townhomes on Martin Luther King Jr. Blvd., both near John Chavis Memorial Park.
