Service workers are finding it nearly impossible to live in Raleigh. Housing is simply too expensive. In the Five Points area, property values have risen 3 to 4 times faster than the average rate in Wake County, which means residents have seen dramatic increases in property taxes. If the trend continues, more and more residents will be forced to move to smaller homes, the suburbs or another municipality.  

Many contend the precipitous rise in property values and taxes is avoidable if reasonable limits are imposed on the scale of redevelopment projects. Investors will be unwilling to pay exorbitant prices for properties if limitations in scale make it impossible to get an reasonable return on their investment.

Over the last several years, the Five Points community has seen dramatic increases in the number of teardowns. To get the desired rate of return, investors are replacing teardowns with much larger homes that  are less affordable and usually incompatible with other homes in the neighborhood.