Articles we found interesting this week:

1. No relief in sight for sagging housing inventory in Raleigh/Cary metro, Axios reports. 

2. April’s median real estate price increased by $15,750 to $474,750. Check out our Data page for a look at the 12 month average.

3. Appeals Court Tackles on Chapel Hill Inclusionary Zoning Challenge, Carolina Journal reports.

4. Southern Transit Must Be Right-Sized, from Southern Urbanism.

5. Rents Continue to Slide in Raleigh, the N&O reports.

6. The Death of the Neighborhood Grocery Store, from Southern Urbanism.

7. Wall Street has Spent Billions Buying Homes: A Crackdown is Looming, according to the Wall Street Journal.

8. Plunging Home Prices, Fleeing Companies: Austin’s Glow is fading, Bloomberg reports.

9. Raleigh and Wake County address homelessness through a HUD-mandated entity called a Continuum of Care.  To learn more about how the Wake Continuum of Care works, check out this informative video.

10. During recent meetings to discuss Raleigh City Council’s proposal to change how Councilors are elected, rank choice voting came up several times.  Although it is not legal in NC, here is an opinion piece suggesting it may not be the answer to voter participation and engagement.

BONUS READ: Something Raleigh should consider: Playgrounds for all ages are becoming a trend across the country, Bloomberg reports.

Meetings of interest in the week ahead:

Council meets on May 7. Meetings, events and items of interest this week:

1. Staff is proposing significant changes to its Public Private Partnership Policy (“PPP”) to make it more flexible.  If approved, it will provide more opportunities to work with affordable housing developers as the City seeks to expand affordable housing inventory.  Click here for the agenda material.

2. Council continues deliberating on Z-92-22 (New Bern BRT Corridor Rezoning). Last month, Council took a bus tour of the area and will likely take additional actions to upzone properties along the corridor.  Click here for the agenda item.

3. Council is likely to act on 2 Resolutions of Intent to alter how council is elected and expand the size of Council.  One Resolution proposes to transition from 2-year terms where all Councilors are elected every 2 years to 4-year staggered terms.  The other Resolution proposes adding 3 additional district seats so there would be 8 district seats, 2 at-large and the Mayor (11 total representatives).  Council may enact these by ordinance rather than placing them on the ballot.  They have the option of placing both Resolutions on the ballot.  Click here for additional backup materials.

4. The Manager through the Office of Housing and Neighborhoods is asking Council to approve up to $5,000,000 to implement a pilot project to address homelessness in the City.  Click here for agenda materials.

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