Name: Group helping hotels turn into affordable housing in Triangle
Uploaded: 2024-01-04T16:52:00-0500
Duration: 152690
Description: Three Extended Stay hotels in the Triangle are being converted into cost-effective apartments.

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Three Extended Stay hotels in the Triangle are being converted into cost-effective apartments.

<p>VISUAL HERE IN A FEW MOMENTS. BACK TO ALL RIGHT. THANK YOU, MARK. WE'LL CHECK BACK IN AFFORDABLE HOUSING HAS UNAVAILABILITY ISSUE IN WAKE COUNTY AND ACROSS THE COUNTRY. SALARIES ARE NOT KEEPING UP WITH RENT AND PEOPLE ARE SPENDING. 42, EVEN 50% OF THEIR INCOME ON RENT. THERE IS A TENNESSEE BASED INVESTMENT FIRM NOW STEPPING IN TO THE AFFORDABLE HOUSING MARKET AND COMFORTING. &gt;&gt; HOTELS INTO HOUSING, ONE IN RALEIGH AND TO ENDURE NEAR RTP WRL SHOW JACKSON JOINING US LIVE TONIGHT TO THE IDEA HERE IN THE PROGRESS THEY'RE MAKING SHELLING. &gt;&gt; WELL, JEFF FLYNN AT THIS PROPERTY USED TO BE AN EXTENDED STAY. AMERICA HOTEL IS OWNED BY BLACKSTONE. ITS RECENTLY SOLD SOME OF THESE HOTELS AT OPTIONS, INCLUDING THIS ONE. NOW THIS IS WHERE ROUND AND THE VOTE LIVE IN. COME IN. THEY SAY THEY ARE CREATING A SOUND INVESTMENT AND ADDRESSING A HUGE NEED IN THE COMMUNITY. &gt;&gt; FROM TO HOUSING AND INVESTMENT FIRM IS CONVERTING 3 EXTENDED STAY. AMERICA IS IN THE RALEIGH, DURHAM AREA, 2 AFFORDABLE HOUSING UNITS NOW CALLED THE THE LIVING. &gt;&gt; WE SEE THIS AS AN OPPORTUNITY TO TAKE WHAT WAS OTHERWISE A AND UNDERVALUED ASSET AND SERVE WHAT WE BELIEVE AKRON NEED, WHICH IS SORT OF A LOW-COST PROVIDER OF HOUSING IN THESE GROWTH MARKETS WILL LAWYER PRINCIPAL WITH REALM SAYS RENT FOR THE 3 TO 400 SQUARE-FOOT EFFICIENCY APARTMENTS WILL AVERAGE AROUND $1000. &gt;&gt; ACCORDING TO APARTMENTS DOT COM, THE AVERAGE RENT FOR 547 SQUARE-FOOT STUDIO APARTMENT IN RALEIGH. IT'S $1272 A MONTH. THE APARTMENTS COST 75,000 PER UNIT. A HUGE SAVINGS COMPARED TO THE 250,000. IT WOULD COST TO BUILD FROM THE GROUND UP IS KIND OF A STREAMLINED SYSTEM, RIGHT? YOU'RE NOT HAVING TO DO A MAJOR RENOVATION OR CONSTRUCTION PROJECT WHEN COMPLEXES ON WAKE FOREST ROAD ACROSS FROM DUKE RALEIGH HOSPITAL. THE OTHER 2 ARE IN DURHAM, NORTH CAROLINA, HIGHWAY 55 AND IVY CREEK BOULEVARD. THE UNITS FOR PURCHASE IN DECEMBER AND ARE BEING RENOVATED. SOME WILL BE READY TO LEASE THIS MONTH. LAWYER SAYS THE PROJECT AS A WAY TO WIN A KEY ASPECT OF WHAT MOTIVATES US HERE AROUND IS HELPING TO SOLVE SOCIETAL PROBLEMS. WELL, ALSO, &gt;&gt; PROVIDING SOME SOME INCREDIBLE RISK ADJUSTED RETURNS FOR INVESTORS, RIGHT? WE BELIEVE YOU KNOW, REAL ESTATE HELPS A DRIVE COMMUNITIES AND TRYING TO FIND THE HIGHEST AND BEST USE TO HELP COMMUNITIES THRIVE. &gt;&gt; AND RON SAYS IT PLANS TO BUILD MORE PROPERTIES LIKE THIS</p>

Luke Notestine

Shelle Jackson

Ryan Bisesi

Group helping hotels turn into affordable housing in Triangle

Extended Stay Americas hotels to be converted into affortable housing

WRAL-TV News Broadcasts: Watch each newscast live or watch the most recent newscast on demand.

WRAL Late News 

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

Good morning. I'm meteorologist, Elizabeth Gardner. Some patchy fog around the area this morning. But for the most part, we'll see a good bit of sunshine for it today and it will be pleasant. Our dew point or humidity is fairly low today, we'll see a high of 80 in Raleigh, 81 in Durham and 81 in Fayetteville. Today's day is nice and dry and we have some really comfortable weather in our forecast for the next couple of days this morning. Our muggy meters sitting right there, comfy. Our due point is 56. So feeling pretty good, but it starts to climb into the next several days. By Thursday and Friday, we're back up to around tropical with some warmer temperatures. Thursday. We could hit nineties again. Take a look at that temperature change. We had temperatures below normal over the weekend. So you can see that there in the blue shaded area as we move ahead, especially by midweek, we'll see the temperatures swinging back to above normal. We could be in the nineties by Thursday, but then after that, mainly mid eighties otherwise, but that's still a little bit above normal as our normal high right now is 81 degrees. Should have a beautiful evening for baseball tomorrow. Tomorrow kicks up the next home stand for the Durham Bulls Tuesday, Wednesday, Thursday. Um, it should be very nice for that 6630 game time at six o'clock, temperatures, 79 and just holding into the seventies through the evening and the humidity still stays on the lower side for tomorrow. Again, our normal high is 81. We'll see 84 today and then 84 tomorrow, we do hit 91 on Thursday. We start to cool back down on Friday with that high of 86. But that's because we may end up with some scattered thunderstorms. Here's a look at a sneak peek at our Memorial Day. Weekend, things may change somewhat but we're definitely trending wetter for the weekend, some afternoon and evening storms on Friday as folks are trying to hit the road and head out for the weekend on Saturday, scattered showers and storms odd enough for a good chunk of the day. Sundays, maybe mainly in the afternoon and the same with Monday. But, uh, you know, we'll do our best to help you plan around it as we get closer to the weekend. We'll continue to update you on the timeline for showers and storms.

WRAL WeatherCenter Forecast

Nightly N.C. Education Lottery drawings during the 11 p.m. News.

Good evening, Darren Ott here with tonight's drawings for Sunday. May 19th, 2024. Let's get started. As always with Carolina pick three where the first winning number is eight. The second is three and the third is four and our pick three. Fireball number tonight is eight. Joining me for tonight's drawing is our auditor from mcconal Jones L LP. We move along to Carolina pick four. The first pick four, number is one. The second is four. The third is one and the fourth is two. In our pick for fireball number is five. Turning now to the Carolina cash five. If no one wins the top prize tonight, tomorrow's top prize is estimated at $130,000. Good luck. The first cash five number is 11. The second is 12. The 3rd 34. The fourth is five and the fifth and final number tonight is seven over the past 16 years. The lottery has contributed over $10 billion to education. So thanks for your support and thanks for playing the North Carolina Education lottery.

Evening Pick 3 Pick 4 and Cash 5

Daytime Pick 3 and Pick 4 drawings are held at 3 p.m. daily. They can be seen as live or on-demand video.

Good afternoon. I'm Claire Justin and welcome to this afternoon. Choice for Sunday. May 19th, 2024. Let's get started with our car to pick three. Your first number is eight. Second is nine, third is also nine and your pick. The fireball is two. Joining me for this afternoon's drawing is our auditor from mcconnell and Jones L LP. Now let's move on to the Carolina pick for your first pick. Four. Number is four. Second is six. Third is one, fourth is one and your pick four. Fireball is eight. The North Carolina Education lottery contributed over $10 billion to education. Thanks for your support. Get your winning numbers each day here on your exclusive station for the North Carolina Education lottery.

Daytime Pick 3 and Pick 4 Drawing

Monday, Wednesday, and Saturday Powerball drawings, as shown live on WRAL.

Johnson tonight, we have another life changing jackpot for you. It's worth an estimated $77.5 million. I get those tickets out. Let's play. That first number is 42. Followed by the number 59. Tonight. We're going to meet, keep on trucking who won $50,000 playing powerball. Now, for the rest of those numbers, we've got 3719, rounding it out with 36. Your powerball number tonight. Good luck. Everyone is 19 and your power play multiplier is two. Let's take a look at those numbers one last time. Remember there are multiple ways to win. We'll see you back here Monday night. Good night, everyone. Favorite jackpot game. This is powerball. Good evening America. I'm.

Powerball Drawing

Tuesday and Friday Mega Millions Drawing.

>> ACROSS AMERICA WITH MEGA JACKPOTS, IT'S MEGA MILLIONS WOODS UP AMERICA. I'M JOHN CROW. IT IS FRIDAY MAY 17TH AND TONIGHT'S MEGA MILLIONS JACKPOT IS AN ESTIMATED A NEW TIES. 393 MILLION DOLLARS. AND WIN THAT JACKPOT. YOU MUST MATCH THESE 5 WHITE. PLUS THAT GOLD MEGA BALL NOW LETS SEE IF I CAN MAKE YOU A MILLIONAIRE TONIGHT. YOUR FIRST WINNING NUMBER TONIGHT IS 8 AND FOLLOWED BY 60. UP NEXT, WE HAVE 70. YOUR NEXT NUMBER IS 17 IN YOUR FINAL WHITE BALL NUMBER FOR THIS FRIDAY EVENING IS 40 NOW FOR THE MEGA BALL NUMBER. THAT IS 3. AGAIN. TONIGHT'S WINNING NUMBERS ARE 8, 60, 70

Mega Millions Drawing

Sky 5 flies over a water rescue in Raleigh at Crabtree Boulevard and N. King Charles Road.

Sky 5 flies over water rescue in Raleigh

Sky 5 is flying over the scene of a developing situation of a tanker truck fuel leak in Raleigh.

Group helping hotels turn into affordable housing in Triangle

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