Many of our clients relocating from large metropolitan areas want to find an area in the Southeast with similar big city amenities, and Asheville, with its recent commitment to a significant level of commercial development, provides those amenities.
Libertyville, IL (PRWEB) August 25, 2015
Marian Schaffer, Principal and Founder of Southeast Discovery, a real estate consulting firm specializing in guiding Baby Boomers with their real estate needs in the two niche markets of retirement relocation and second homes in the Southeast region, recently cited the commercial development investment of over $1 billion announced in the Asheville Citizen-Times in July 2015 as a contributing factor in drawing even more relocating Boomer retirees to the Western North Carolina area. As the Asheville Citizen-Times reported, the commercial development will include investments into hotels, retail spots, offices, medical buildings, apartments, schools and more, and will take place over the next 5 years.
“Baby Boomers have had their eye on Asheville and the Western North Carolina area as a retirement destination for the past decade for a whole host of reasons,” said Schaffer. “These reasons include the beautiful mountain topography Western North Carolina offers, the mild four season climate, the plethora of outdoor activities available year round, and the overall lower cost of living. And with the significant new commercial development taking place in Asheville, Boomer retirees, many of whom are relocating from large metropolitan areas, will find a vibrant, growing and economically robust city, a city with plenty of big city advantages, yet with fewer big city annoyances.”
According to reporting in the Citizen-Times, for the fiscal year that ended June 30, Asheville issued building and upfit permits with an estimated construction value of $400 million, an increase of $212 million since 2012.
Upcoming projects include:
A $175 million investment in the River Arts District, East Coast operations center of New Belgium Brewery, with the facility set to begin brewing beer later this year.
The $12 million seven-story Hyatt Place Hotel. Work is under way with exterior work nearing completion; the 140-room hotel is scheduled to open this year.
Work is also underway on a $20 million hotel near the BB&T Building downtown. The 132-room Marriott-branded hotel is scheduled to open during summer 2016.
A $16 million, six-story hotel and four-story, $24 million office building near downtown are also under construction. The project, known as the Hilton Garden Inn/City Centre office is expected to open in 2016.
The region's largest hospital, Mission Health, will build an 11-story, $404 million tower on its Mission campus, with a projected completion date of November 2018. The newly created space will feature new operating rooms and an emergency services department.
Two new city schools are slated to open 2016-17 school year: the new $23 million Isaac Dickson Elementary School, and $41 million Asheville Middle School. Additionally, the $25 million Enka Intermediate School will be completed this summer.
“Asheville is a beautiful part of the country and one of the key reasons retirees are drawn to relocate there,” said Schaffer. “But often our clients relocating from large metropolitan areas want to find an area in the Southeast with similar big city amenities, and Asheville, especially in light of its recent commitment to a significant level of commercial development, provides those amenities.”
About Southeast Discovery
Since 2004, Southeast Discovery has been a trusted resource for candid information and insight on communities, developments, and general real estate in the Southeast. Through its highly-ranked web portal, newsletter and blog and its one-on-one work with clients, Southeast Discovery helps buyers actively looking for a retirement or second home in the Southeast navigate the process of identifying the right area and community for their needs. To learn more, visit http://www.southeastdiscovery.com/.