US DEVELOPMENT INTELLIGENCE / PREMIUM DECISION STUDY
More height. A better investment?
3911 Western Boulevard Raleigh, North Carolina
7 stories requested / rezoning pending at snapshotScenario C / PLUcide design hypothesis. Existing surroundings shown as flat 2025 imagery; no inferred neighboring heights.
MAPPED SITE1.507 ac1.500 acres in the application
STRATEGIES3 / 5 / 7Stories examined, with distinct conditions
THE DECISIONProceed selectivelyTest entitlement, mobility and economics
Independent public-data demonstration, not commissioned by or endorsed by the owner. All redevelopment designs are PLUcide hypotheses, not the applicant's plans. [E01][E02][E03]
PLUcide / USA
3911 Western Blvd / Raleigh
01 / EXECUTIVE DECISION
The opportunity is real. The acquisition case is not yet proven.
Recommendation
Fund a focused feasibility stage. Do not price the land on seven stories alone.
The model produces three physically different outcomes from one site strategy. None constitutes an approved unit count. Height is only one part of the investment decision.
A / BASELINE63 homes3 floors / current height designation
B / TOD105 homes5 floors / affordability conditions
C / REZONING147 homes7 floors / council decision required
1
Five stories deserves a separate review.
The overlay offers a route beyond the base height. Model B fits within 49 ft; the affordable housing obligation is material to delivery and revenue.
2
24 parking spaces is a commercial question.
There is no numeric vehicle minimum in the reviewed table, but this concept provides only 0.16-0.38 spaces per home. Buyer, operator and lender acceptance are unproven.
3
The illustrative economics do not support a positive land budget.
At the stated inputs, residuals range from -$4,926,038 to -$23,218,463. These are funding gaps before land, not estimates of the property’s value.
First spending gate: confirm the post-hearing ordinance, the future road boundary and a credible parking strategy; then obtain cost and rent evidence.
Program counts are PLUcide hypotheses. Existing base zoning, conditional bonus and pending rezoning are separate legal paths. [E01][E02][E06][E07][E11][E17]
PLUcide / USA
3911 Western Blvd / Raleigh
02 / SITE AND DATA
A real parcel. An existing developed site.
North-up, official 2025 aerial with mapped parcel overlay. Existing buildings and parking are visible. No demolition or vacancy is assumed to be authorized.
Source value
Finding
Interpretation
Deed / application
1.500 acres / 65,340 SF
Declared land area
County polygon
65,642.8 SF / 1.507 acres
GIS calculation; +0.46% versus deed
Assessment attributes
1962 / 11,354 SF heated area
Tax data; not a measured footprint
The applicant describes the site as a brownfield (PDF p. 20); this is not an independently verified contamination or registry finding. Survey, title, leases and business continuity are required before redevelopment. The design assumes full replacement solely to compare options. [E01][E03][E05]
PLUcide / USA
3911 Western Blvd / Raleigh
03 / ENTITLEMENT STATUS
Know which permission you are buying.
Layer / event
Evidence at 03 Oct 2026
Decision consequence
Base district
County GIS intersects the parcel as NX-3.
Use 3 stories / 50 ft as the base height designation.
Overlays
Application identifies TOD and SRPOD.
Apply the TOD analysis provisionally; obtain a zoning verification letter.
Rezoning Z-07-26
NX-7-CU requested; public hearing listed for 06 Oct.
Seven stories is conditional on an effective ordinance. No approval inferred.
Proposed conditions
Use exclusions and Urban Limited frontage on Western.
Review the final adopted conditions, which can differ from the application.
Program
No PLUcide concept is an applicant site plan.
All layouts and counts in this report are independent test fits.
Current route
A: 3 stories
Base-height apartment concept.
B: 5 stories
Conditional affordability route; covenant, eligibility and implementation must be accepted.
Future route
C: 7 stories
Rezoning-dependent apartment concept.
Further bonus is not modeled
The retained TOD overlay may interact with a future base height. This report does not claim that seven stories is an absolute ceiling.
Refresh required after the hearing. Re-run this study against the effective ordinance before using it for an offer, loan or investor presentation.
GIS cross-check covers the base district only. Overlay boundaries and all recorded restrictions remain a formal confirmation item. [E01][E02][E04][E06][E07]
PLUcide / USA
3911 Western Blvd / Raleigh
04 / RULES TO GEOMETRY
The rules that shape the footprint.
Topic
Reviewed rule
Applied to this concept
Source
Use
Multi-unit living is permitted in NX in the principal use table.
All scenarios are apartments, without commercial floor area.
The build-to range is not a blanket “20 ft setback.” Both the distance to the street line and the amount of frontage occupied by the building must be checked.
Facade detailing, street trees and sidewalks are not validated by passing a polygon containment test. This is a targeted development screen, not an exhaustive permit checklist.
PLUcide / USA
3911 Western Blvd / Raleigh
05 / OVERLAY LOGIC AND CONDITIONS
The five-story route has an affordability price.
Base height: 3 stories Residential TOD bonus: ceil(3 x 1.50) = 5 stories Additional stories in concept B: 2 Target homes on additional stories: 2 x 21 = 42 Conservative affordable allocation: ceil(42 x 20%) = 9 homes
What the source requires
Bonus floors must serve principal residential uses. The specified affordable share serves households at or below 60% AMI for at least 30 years, supported by a recorded City-approved restriction and annual compliance reporting.
What the model assumes
Nine of 105 apartments carry a lower illustrative rent. The $1,400 input is not a verified statutory rent ceiling; household size, utilities and current City limits must be applied.
Keep height and program tied together
B uses a 13 ft ground floor and four 9 ft upper floors: 49 ft overall to the modeled roof slab. Parapets, grade measurements and construction depth remain to be resolved without assuming a higher feet limit.
Design dependencies beyond the bonus
UL frontage applies through the TOD for the examined building type. Taller B/C amenity areas need an urban-plaza treatment. The concept reserves 9,000 SF at grade, seven trees and 140 linear feet of seating; access and eligible area remain design checks.
The nine-home allocation is a conservative rounding assumption to confirm with the City. Read the complete source conditions before structuring a covenant. [E07][E10]
PLUcide / USA
3911 Western Blvd / Raleigh
06 / CONCEPT MASTERPLAN
One site strategy. Room for the essentials.
Measured parcel transformed into a street-aligned local frame. Building, courtyard and parking polygons are tested for containment and non-overlap.
VEHICLE SPACES24Concept allocation, not an approved layout
Western is primary frontage; Clanton is the side frontage. Access corridor location is conceptual. Fire access, curb authorization, refuse, deliveries, stormwater and actual grades can change this layout.
PLUcide / USA
3911 Western Blvd / Raleigh
07 / PROGRAM AND FLOORPLATE
Surface is not the same as saleable homes.
Functional zones only. Cores and corridors illustrate a circulation allowance, not a code-compliant architectural plan.
Per typical level
Area / count
Model treatment
Gross floor area
22,600 SF
Exterior footprint, no balconies counted
One-bedroom target
14 x 700 SF = 9,800 SF
Program assumption
Two-bedroom target
7 x 1,150 SF = 8,050 SF
Program assumption
Net residential target
17,850 SF / 79.0%
Before detailed layouts
Non-rentable balance
4,750 SF / 21.0%
Cores, walls, circulation, services and shared uses
Counts are program targets. An architect must demonstrate compliant units, daylight, accessible routes, fire separation and egress. Ground-floor service needs may reduce the repeated 21-home target.
PLUcide / USA
3911 Western Blvd / Raleigh
08 / SECTIONS AND MASSING
Three heights. Explicit floor stacks.
Section S1 uses the actual modeled footprint at local x = 130 ft. C is solid; A and B roof levels are dashed. Flat datum, no surveyed grades.
Scenario
Floor stack
Gross floor area
Program target
A
13 + 9 + 9 ft
67,800 SF
63 apartments
B
13 + 9 + 9 + 9 + 9 ft
113,000 SF
105 apartments
C
13 + 10 + 10 + 10 + 10 + 10 + 10 ft
158,200 SF
147 apartments
Consistent geometry
The same 22,600 SF outline drives quantities, plans, the interactive viewer and reopened Blender model measurements.
Height is not construction type
Structure, fire rating, podium strategy, rooftop services and grade datum remain engineering work. C is not assumed to use the same construction system as A.
UDO tall-building stepback rules reviewed; the 13-story trigger is not reached. Other frontage and transition rules still apply. [E06][E13][E14]
PLUcide / USA
3911 Western Blvd / Raleigh
09 / SCENARIO A
A / Baseline infill
Existing height designationScenario A. Illustrative architectural expression; materials and windows are not a reviewed design.
TARGET HOMES633 stories / 31 ft
GROSS FLOOR AREA67,800 SFAnalytical FAR 1.03, not an allowed FAR
PARKING RATIO0.3824 spaces / target home count
Lower entitlement complexity. A may still require significant redevelopment, tenant relocation and civil works; low-rise construction does not remove those costs.
At illustrative inputs: residual land budget -$4,926,038. With a $2m land test price and 15% margin on total cost, break-even market rent is $3,159/month.
These figures are sensitivity outputs, not market valuations. The full inputs and formulas are on pages 15-16.
PLUcide / USA
3911 Western Blvd / Raleigh
09 / SCENARIO B
B / TOD affordability route
Conditional bonus under current overlayScenario B. Illustrative architectural expression; materials and windows are not a reviewed design.
TARGET HOMES1055 stories / 49 ft
GROSS FLOOR AREA113,000 SFAnalytical FAR 1.72, not an allowed FAR
PARKING RATIO0.2324 spaces / target home count
The bonus adds 42 target homes versus A, with nine affordable homes assumed. Its covenant affects rents, administration and future transfers.
At illustrative inputs: residual land budget -$10,197,202. With a $2m land test price and 15% margin on total cost, break-even market rent is $3,308/month.
These figures are sensitivity outputs, not market valuations. The full inputs and formulas are on pages 15-16.
PLUcide / USA
3911 Western Blvd / Raleigh
09 / SCENARIO C
C / Rezoning-led density
Pending rezoning; not an existing rightScenario C. Illustrative architectural expression; materials and windows are not a reviewed design.
TARGET HOMES1477 stories / 73 ft
GROSS FLOOR AREA158,200 SFAnalytical FAR 2.41, not an allowed FAR
PARKING RATIO0.1624 spaces / target home count
The requested rezoning adds 84 target homes versus A. This concept is unavailable as a seven-story base-height scheme until the rezoning is effective.
At illustrative inputs: residual land budget -$23,218,463. With a $2m land test price and 15% margin on total cost, break-even market rent is $3,696/month.
These figures are sensitivity outputs, not market valuations. The full inputs and formulas are on pages 15-16.
PLUcide / USA
3911 Western Blvd / Raleigh
10 / MOBILITY AND OPERATIONS
No parking minimum does not mean no parking problem.
Metric
A / 63 homes
B / 105 homes
C / 147 homes
Concept spaces
24
24
24
Spaces per home
0.38
0.23
0.16
TOD vehicle maximum
105
175
245
Short-term bicycle minimum
4
5
7
Long-term bicycle minimum
12
20
28
Vehicle maxima use 1.5 spaces per one-bedroom and 2 per two-bedroom. Bicycle calculations use the target bedroom mix and UDO nearest-integer rounding; minima are not parking supply targets. [E11][E12]
Critical sequencing risk
2032
Anticipated Western BRT opening in the City programme, not an operating service at the report date. Do not underwrite the low-parking concept as if BRT already existed.
Before selecting B or C
Validate tenant profile and realistic car ownership.
Test a managed off-site parking agreement or alternative on-site strategy.
Price structured parking if required by the operator or lender.
Before site-plan submission
Confirm driveway rights, sight distance and curb changes.
Provide turning paths, refuse loading and emergency access.
Detail accessible stalls/routes and bicycle storage.
The 24-space sketch is a geometric allocation. It does not establish traffic, accessibility or fire-code compliance.
BRT dates are an anticipated programme and may change. [E17]
PLUcide / USA
3911 Western Blvd / Raleigh
11 / SOLAR AND SHADOW TEST
See the seasonal effect of the taller option.
Project-only shadow projection of the full 73 ft building. The shadow tip is calculated from solar altitude and azimuth; ground and neighboring massing are simplified.
What this shows
June, September and December at 09:00, 12:00 and 15:00 local civil time. Winter gives the longest shadows and should guide a detailed neighbor-impact study.
What it does not establish
No annual sunlight-hours assessment, neighboring window analysis or regulatory daylight compliance is claimed. Terrain, trees and existing 3D surroundings are absent.
Site coordinates 35.784054, -78.690457. Time zone America/New_York; DST applied by date. Azimuth referenced to north, then rotated into the parcel frame. [E18]
PLUcide / USA
3911 Western Blvd / Raleigh
12 / ILLUSTRATIVE UNDERWRITING / USD
The economics must work before the land does.
A transparent rental-hold residual model. Every input below is editable in the companion tool and requires local evidence.
Input
Working assumption
Scope
Market / affordable rent
$2,200 / $1,400 per home / month
Neither is a verified market or statutory limit.
Vacancy / operating expense
7% / 35% of effective income
Operating expense includes property tax, insurance, management and reserves as a combined placeholder.
Exit capitalization rate
5.50%
Unverified valuation assumption.
Building hard cost A / B / C
$210 / $230 / $285 per gross SF
Different height systems; no contractor quote.
Site works / surface parking
$1.20m / $8,500 per space
Preliminary allowance; major remediation excluded.
Soft costs / contingency
20% / 8% of building + site + parking
Concept-stage allowances.
Carry and lease-up / target margin
$0.80m / 15% on total cost
Carry lump sum; no debt schedule or IRR.
Output
A
B
C
Net operating income
$1,005,404
$1,623,445
$2,345,944
Stabilized value
$18,280,080
$29,517,185
$42,653,520
Non-land development cost
$20,821,760
$35,864,320
$60,308,480
Residual land budget
-$4,926,038
-$10,197,202
-$23,218,463
NOI = annual rent x (1 - vacancy) x (1 - operating expense) Value = NOI / capitalization rate Residual land = value / (1 + target margin) - non-land cost
Negative residual means the modeled project cannot support even zero land cost at these assumptions and target margin. It is not a negative market value for the existing property. Purchase closing costs, taxes on profit and unusual off-site works are not separately modeled.
PLUcide / USA
3911 Western Blvd / Raleigh
13 / SENSITIVITY AND BREAK-EVEN
Know which assumption can change the decision.
Scenario C: residual land budget at different rents and exit yields
Monthly market rent
4.50% cap
5.50% cap
6.50% cap
$1,800
-$23,218,463
-$29,962,102
-$34,630,776
$2,200
-$14,976,237
-$23,218,463
-$28,924,619
$2,600
-$6,734,010
-$16,474,823
-$23,218,463
$3,000
$1,508,216
-$9,731,184
-$17,512,306
$3,400
$9,750,442
-$2,987,544
-$11,806,150
All other C inputs unchanged. Cells show dollars remaining for land after the target margin, not project profit. There is no claim these rent or cap-rate cases are attainable.
A / BREAK-EVEN RENT$3,159/ month, market homes
B / BREAK-EVEN RENT$3,308/ month, market homes
C / BREAK-EVEN RENT$3,696/ month, market homes
Break-even rents include the $2.0m illustrative land test price and 15% margin on total cost. B retains the $1,400 affordable-rent assumption while solving for the other homes.
Capital discipline
Commission a local rent-comp schedule and a system-specific cost plan before treating more floors as more value. A taller building can add cost faster than net income.
Program discipline
Test unit sizes, ground-floor service needs and parking strategy together. Changing the unit mix changes revenue, net-to-gross, bicycle needs and absorption.
Effective ordinance and zoning verification letter; confirm all overlays and conditions.
Boundary / road dedication
Unresolved
ALTA/NSPS and topographic survey; BRT/ROW design and dedication requirements.
Title / occupation
Unresolved
Title commitment, easements, leases, vacant possession and existing business agreements.
Flood / watercourse
Not verified
Official FEMA / NC FRIS parcel review and civil drainage analysis. Automated endpoints did not provide a usable result; no flood clearance claimed.
Stormwater / utilities
Not verified
Capacity letters, detention sizing, utility easements and off-site works estimate.
Environmental / geotechnical
Applicant brownfield claim
Application p. 20 describes a brownfield. Verify status, Phase I ESA and any land-use restrictions; obtain geotechnical and demolition surveys.
Fire / accessibility / construction
Concept only
Local architect and engineers: code strategy, type, separation, egress, access and service requirements.
Market / cost / financing
Assumptions only
Rent comparables, QS/GC estimate, operator parking brief and lender terms.
No “all clear” conclusion is inferred from a missing dataset. The aerial does not reveal underground constraints, title restrictions or the actual elevations needed for a construction design.
The GIS base zoning around the parcel is NX/RX in the query extent. The neighborhood-transition review must be revisited if the parcel boundary, adjoining district or project use changes. [E04][E13]
The selected height route and applicable conditions are verified.
2 / Site control
Survey, title, leases and road-design overlay.
The footprint and access survive the actual legal/physical constraints.
3 / Test fit
Architect/civil/traffic coordinated plan, unit layouts, parking and services.
Count, circulation, operations and code strategy can coexist.
4 / Economics
Cost plan, rent comps, affordable schedule, financing and delivery programme.
An evidence-based residual supports an acceptable offer.
5 / Decision
Selected scenario, risk-adjusted budget and conditions precedent.
Acquisition exposure is aligned with what has actually been verified.
Recommended next instruction
Validate B first. Keep C as conditional upside.
B tests the value of existing TOD provisions without assuming a successful new rezoning. A provides the lower-height reference. C needs both entitlement and a much stronger financial case under the current input set.
What PLUcide delivers here
A traceable rule screen, repeatable geometry, three tested massings, explicit quantities and transparent sensitivity calculations.
What the next team supplies
Surveyed inputs, municipal confirmations, licensed design, verified market economics and a coordinated approval package.
PLUcide / USA
3911 Western Blvd / Raleigh
16 / SOURCE REGISTER / 1 OF 2
The evidence stays attached to the conclusion.
E01 / Rezoning application Z-07-26
PDF pp. 1-2: site, current/requested zoning, proposed conditions. Applicant statements, not approval.
The county parcel is transformed from NC State Plane coordinates into a local street-aligned frame. Areas are measured in square feet. Design input feet are converted to metres for rendering. All three scenarios share a footprint; level heights, unit targets and cost assumptions are explicit inputs.
Verification
Automated checks test polygon validity, parcel containment, non-overlapping program areas, minimum amenity allocation, arithmetic, affordability rounding and consistency between the reopened 3D floor meshes and report quantities. Browser and PDF checks cover layout and functioning companion tools.
Scope of reliance
This is a comprehensive preliminary decision study based on public information and stated assumptions. It is not a survey, appraisal, legal opinion, building permit, municipal determination or signed architectural/engineering design. It does not represent the owner or applicant. No private project, lease or engineering documents were supplied.
Evidence reviewed: 03 October 2026. The hearing date and any later ordinance must be rechecked. The building image is a calculated design hypothesis, not an approved project or a photograph of a future building.
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