IN WITH THE NEW.
Author | Mildenberg, David |
Position | Brief article |
Raleigh developer Jack Morisey can claim the title of infill kingpin after the National Association of Home Builders honored his Oakdale at Mordecai project as the nation's best of its genre at the group's January annual conference. Infill, which is jargon for replacing old properties with new ones in inner-city neighborhoods, is among real estate's hottest trends because of the popularity of urban living. Infill hadn't been a priority for Morisey's Community Properties, which has developed a couple dozen suburban-oriented neighborhoods around the Triangle since the 1970s. That changed in 2015, when Morisey paid $6.6 million for a 7.5-acre site that included 71 apartments a mile north of the state Capitol. After knocking down the apartments, he worked with homebuilder Chip Robuck to design a community that's been an aesthetic and financial success: 49 of the project's 56 units have been built or sold for an average of $624,000.
Infills...
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