Sir Walter, the downtown Raleigh senior housing complex on Fayetteville Street, is being marketed to investors for possible redevelopment.
The sales price for the 140-unit complex is $16.8 million, according to a flier put out by commercial real estate firm NAI Carolantic Realty.
The building is 100 percent occupied. The U.S. Department of Housing and Urban Development subsidizes the rent of Sir Walter’s occupants, and the contract between HUD and the owner runs through August 2020.
That means the tenants are at least guaranteed to be able to remain in place until that date should a sale take place, said Mona Williams, regional property manager for Residential Properties Management, which manages the Sir Walter.
She said RPM hasn’t notified the residents about a possible sale.
“They’re seniors and we don’t want to frighten them because they’re good until 2020,” she said.
If the property is sold, and the new owner chooses not to extend the HUD contract, tenants would be given a year’s notice before they had to leave, Williams said.
A surge in redevelopment activity in downtown Raleigh has led a number of long-time property owners to explore selling their holdings. The NAI Carolantic flier notes that the Sir Walter, just a short walk from City Plaza and the Convention Center, would be excellent for redevelopment into a hotel, apartments or offices.
Bill Benton, one of Sir Walter’s owners, declined to comment this week on the potential sale of the property. His group paid $850,000 for the 190,518-square-foot building in 1978. Benton is chairman and CEO of Salem Senior Housing, a Winston-Salem company.
Built in 1923, the Sir Walter is on the National Register of Historic Places. It was once one of the state’s finest hotels.
Presidents Harry Truman and Lyndon Johnson stayed at the hotel and each year, the daughters of the state’s elite would gather in the ballroom for the annual debutante ball. Legions of legislators lived there part time because it was near the Capitol, which had no office space.
The hotel fell out of favor with lawmakers when the new Legislative Building on Jones Street opened in 1962. The new building had legislative offices and was farther from the Sir Walter. Other hotels opened on Hillsborough Street to attract legislators.
When Benton bought the hotel and converted it into low-income housing for the elderly, it had been vacant for several years.
Read more here: http://www.newsobserver.com/news/business/article73309897.html#storylink=cpy
Here are a few things you can do to choose a reliable moving company and ensure everything goes as smoothly as possible.
1. Find Great Moving Companies and Read Reviews
The first thing you’ll want to figure out is who’s going to handle your move. A site like Thumbtack will match you with movers in your area and you can read verified reviews to make sure the movers come recommended and that they’re a good fit. Picking a mover based on a good reputation is definitely the way to go when it comes to trusting someone with all of your worldly possessions.
2. Get Several In-Home Quotes
It’s very important that the moving company come to your house to give you the estimate in-person as it’s simply impossible to relay how much stuff you have over the phone, despite how specific you think you’re being. Having someone come to your home also gives you a chance to discuss what will need to be packed or disassembled by the movers and ensure that’s included in the quote. You really want the person doing the estimate to look in every crawl space and closet so that the quote is as accurate as possible. Be sure to mention items you’re donating or throwing away so those aren’t included. You’ll also want to get more than one quote and it doesn’t hurt to leave the folders with your other quotes visible so the companies know you’re doing your due diligence and give you their most competitive numbers. Finally, you may not want to necessarily go with the lowest; instead, chose the company that best fits your needs and makes you feel the most secure.
3. Ask More Questions Before Making a Final Decision
Now that you’ve narrowed it down to one or two companies, this is the time to ask questions like how long they’ve been in business, what the time table will be for the move date and delivery, if there are any restrictions on what they’ll transport, if they’re licensed, if they’ll be consolidating your belongings with someone else’s (for a long move), what the cancellation policy is, what supplies they provide, how they handle disputes, and if they have any questions for you.
4. Get Everything in Writing
The contract you sign should have your mover’s estimate, all extra fees, and the pick-up and delivery dates and times. Be sure to give the mover as much information as possible, including any stairs or elevators or parking difficulties they’ll have to navigate at your new home. And be sure to sign an inventory form listing everything that’s on the truck before your mover hauls your belongings away.
5. Don’t Pay for Everything Ahead of Time
Though a deposit may be required, you should only pay the mover the final bill upon delivery; if you pay everything in advance, you give the movers all of the control surrounding if and when you see your stuff next.
You can combat mold and mildew issues. The key is to identify the source and take steps to eliminate it as quickly as possible.
Fixing water leaksmold and mildew
Repair water leaks quickly to minimize the potential for mold growth or structural damage. Here are some potential trouble spots:
Leaky roof? If you have a damp attic or water stain on your ceiling, you may have a leaky roof. Hire a roofing contractor to locate the leak and repair it.
Drip, drip. Don't ignore that dripping noise coming from your sink, toilet or shower. Fix the leak yourself if you are comfortable doing it, or contact a plumber.
If moisture leaks have caused substantial mold growth or structural issues, you may need to consult with a mold-remediation specialist or a contractor experienced in repairing moisture-related damage.
Reducing indoor humidity
Indoor humidity levels of 30 to 50 percent are ideal, but normal daily activities such as showering, cooking and drying clothes, can raise humidity levels, providing a source of mold and mildew. Here's how to keep humidity under control:
Caulk and seal air leaks around window and doors, and in your attic.
Use ventilation fans in your kitchen and bathrooms to control moisture.
Regularly clean the ventilation hose on your clothes dryer and make sure it is securely fastened.
Make sure all kitchen, bathroom and dryer fans are vented directly outdoors.
Your air conditioning system is key to controlling humidity levels during summer. Have your system cleaned and inspected once a year by a qualified professional.
Heading off basement issues
When it comes to moisture and humidity, your basement can be a problem area. Give these tips a dry run:
Operate a dehumidifier in your laundry room or other damp part of your basement.
If you see water stains or condensation on walls, fill in cracks and apply a water sealant.
Check outside gutters for leaks and make sure your foundation is properly graded.
If you have a crawlspace, install a radiant barrier to control moisture.
Contact a basement contractor if you have significant problems with moisture or standing water.
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Victory Realty revolves around a culture of passion for our brand. We are aggressive, energetic, and flexible in this changing landscape. We take large deposits, have the best tenant quality in the business, and still rent our homes significantly faster than our competitors. 9 Years in business and we’ve only evicted four tenants that we chose, because we have a great system. Many old style management firms survive as a result of their sheer size. However, with offices in coastal Wilmington, and the Triangle /Raleigh -Cary Areas, Victory was built from the ground up, during the worst housing crisis since the 1930’s.
VRE Thrives on a love of the current technology revolution. For this reason we have stayed well ahead of our competitors in all aspects of rental management from marketing to owner/client communication. Originating from, and still to this day operating as a commercial marketing firm for multiple companies in and outside the real estate industry, Victory has an inside track on how people use the web day to day. Rental searches are almost exclusively done online these days, and understanding that constantly changing landscape is every bit of half the success battle.