WORK IN PROGRESS
Population: 995,662
Population Growth Since 2000: 19.9%
Percentage of Workforce in Creative Class: 36.1%
Cost-of-Living Index: 99 (100 being national average)
Median Household Income: $56,150
Income Growth Since 2000: 10.3%
Real estate developer Greg Hatem worked in Beijing during the boom years of the 1990s, and he senses that same Wild West capitalism in Raleigh right now. That the Raleigh-Durham-Chapel Hill Research Triangle is living up to its reputation as a high-tech hotbed isn't news. But anyone familiar with the Raleigh angle will be happy to hear the tired city is on the road to a renaissance. "Three years ago, this was a ghost town," says Hatem.
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His Raleigh Times Bar represents the unofficial cultural epicenter of the new Raleigh; it sits on a corner of Fayetteville Street, which is the keystone of Raleigh's Livable Streets project, a plan to bring urban living to a city that languished as its suburbs and exurbs flourished. The bar, which offers 50 Belgian beers, attracts the young and old, hipsters and preppies, plus folks from the University of North Carolina, North Carolina State University and Duke University.
Those three research schools fuel a smart workforce, the main reason companies relocate to the area. Many work at nearby Research Triangle Park, where top employers IBM and GlaxoSmithKline reflect the area's strong employment in computers and pharmaceuticals. The city of Raleigh has its own technopolis in the Centennial Campus, which is part of North Carolina State. This amalgam of university, government and business enterprises employs more than 3,000.
Raleigh is a work in progress, but 2008 should be the turning point. The city's new convention center will open this year, as will an adjoining Marriott hotel and the city's tallest building, RBC Plaza. The Royal Bank of Canada's U.S. headquarters is the kind of real estate Raleigh mayor Charles Meeker wants more of: a mix of office, condos and retail. "Our big challenge is more urban-style growth," he says.
But there's enough of an urban taste today for Rob Currey, 27, who recently moved to Raleigh after stints in big East Coast cities. Currey works for Cherokee, a private-equity firm that specializes in cleaning up contaminated sites and developing them for its real estate funds. He and his wife, Joy, bought a home in the historic Oakwood district, where he has a "ten-minute walk to work -- and a two-minute commute if I drive." The location gives them access to such downtown amenities as theater and music performances at the Progress Energy Center for the Performing Arts.
If urban isn't your style, and you want the ultimate in suburbia, nearby Cary is your spot. The streets are wide, and pristine business parks are surrounded by pristine residential neighborhoods. The town, like Raleigh, still has reasonably priced housing. You can buy an older, four-bedroom colonial for less than $300,000, and a spanking-new 2,500-square-foot home for $400,000.
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POSTED BY: Dave (April 05, 2009 06:20 PM)
We are looking to move to the Raleigh area. We always loved it and I recently got laid off, so we plan to make the most out of it and move to a place we want to live for the long term. Does anyone know of any good IT recruiters in the area?
Thanks!
POSTED BY: afbro (May 31, 2009 04:22 PM)
I just retired from the Air Force after 22 years and decided to move to Raleigh based on price. If you are a conservative, religious and non-diversity loving person--Raleigh is your dream. If you have lived in a big city (not the suburbs) embraced the vibe and differences, you will be bored out of your mind. Raleigh is the only city we have lived in that can't define itself and is very thin skinned when it comes to criticism...I made a big mistake and will be moving shortly.
POSTED BY: Regina (June 11, 2009 11:41 AM)
I am planning to relocate to North Carolina, but had my heart set on the Charlotte area. I visited Charlotte a while back, and fell in love with it, but coming from NYC with a husband and two small children who are used to "the city life", will Charlotte work for us? I never thought to look into Raleigh since i have't been there in over 5 years, but it is ranked the number 2 best city to live in so how can you go wrong. I would appreciate it if anyone could tell me more about Raleigh. What am I missing? Is it Raleigh or Charlotte?



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