Lafayette Village ~ North Raleigh, NC

Lafayette Village ~ North Raleigh, NC

What's this? Debt capital? The crisis has defintely hit NC but here's a sign of the bullishness that still permeats the region.

Paul Bronson and a group of "inexperienced retail developers" have secured a $15.9M loan to build out this $20M project in N Raleigh.

In Jack Hagel's N&O article Bronson talks about being selective on his tenant mix:

"It's kind of like when you have a cashmere jacket and a cheap tie," Bronson says. "It just doesn't look right. I can't have burger smell wafting through my plaza."

This may be the most gutsy development in the Triangle. Going after 73,000SF of boutigue shops with $26/SF space. That's a lot of coffee, chocolate, cafe's and hair-dos. There are tons of cheaper options for retailers not to mention the expectation that recession fears will hurt high-end retailers in 2009.

Great location, great concept, I hope they can overcome the tough timing.