{"id":20963,"date":"2024-05-06T14:44:16","date_gmt":"2024-05-06T14:44:16","guid":{"rendered":"https:\/\/www.naibeverly-hanks.com\/blog\/?p=20963"},"modified":"2024-05-06T14:44:16","modified_gmt":"2024-05-06T14:44:16","slug":"q1-2024-market-report","status":"publish","type":"post","link":"https:\/\/www.naibeverly-hanks.com\/blog\/q1-2024-market-report\/","title":{"rendered":"Exciting Developments: Asheville MSA Q1 2024 Commercial Market Report"},"content":{"rendered":"
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Featured Listing (see below): 160 & 164 Broadway Street, Asheville<\/a><\/p>\n\n\n\n

Commercial Real Estate Insights<\/h2>\n\n\n\n

With the new year underway, Asheville embraces change and growth with exciting developments that are transforming the city’s landscape and enhancing its appeal for both residents and visitors.<\/p>\n\n\n\n

Three newly opened hotels in Asheville are breathing new life into the city’s historic buildings, creating unique experiences that connect guests to the area’s rich heritage. The Flat Iron, a 71-room Prohibition-themed hotel, pays homage to Asheville’s creative and economic heyday in the 1920s, featuring a rooftop bar and hidden speakeasy. Zelda Dearest, an ode to the city’s ties to author and artist Zelda Fitzgerald, connects three Victorian-style homes into a bespoke, romantic venue. These adaptive reuse projects not only preserve Asheville’s architectural legacy but also offer visitors immersive experiences that celebrate the city’s multifaceted past and present. <\/p>\n\n\n\n

Addressing the city’s affordable housing crisis, Buncombe County has made significant strides already in 2024. On Coxe Avenue, a $59.1 million development will bring 200 affordable units to the area, with a focus on attracting private investment, increasing pedestrian traffic, and maximizing the number of affordable apartments. Meanwhile, the Pentland Hills development, just off New Leicester Highway, aims to be 75% affordable, with at least 52 of the 69 homes sold at accessible rates. <\/p>\n\n\n\n

Alongside the city’s urban transformation, Asheville has also prioritized preserving its natural assets. The Buncombe County Open Space Bond, approved by voters in 2023, has had the first two conservation easements approved as of February 2024. According to AVLToday, \u201cThe first Open Space Bond conservation easements have gotten the green light. Buncombe County Board of Commissioners approved a budget amendment that established two areas to be protected using funds from the bond.\u201d The Buncombe County Open Space Bond enabled the acquisition of several conservation easements, safeguarding valuable green spaces and wildlife habitats. These conservation efforts not only enhance the region’s ecological resilience but also provide residents and visitors with ample opportunities for outdoor recreation and connection with nature. <\/p>\n\n\n\n

As Asheville continues to evolve, these diverse initiatives\u2014from innovative hotels to affordable housing and environmental conservation\u2014showcase the city’s commitment to preserving its unique character while embracing a future that is inclusive, sustainable, and enriching for all who call it home. <\/p>\n\n\n\n

Info from: AVLToday, Asheville Citizen-Times, Explore Asheville, BuncombeCounty.org <\/em><\/p>\n\n\n\n

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Download a PDF of the report<\/a>.<\/strong><\/p>\n\n\n\n

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Q1 2024 Commercial Sales Activity Review:<\/h2>\n\n\n\n