Raleigh/Durham construction market

[Armand R.]

Anyone familiar with current apartment and condo development markets in the Research Triangle area?

We have a lease on undeveloped land in the Cary area, signed when it was booming in 2005, and the owner wants to increase the lease renewal fee, although as best I can tell doing research from here in CA, land values in the area have decreased, outside the city limits.

Anyone familiar with development in the area? Are raw land prices outside Cary increasing the last six months?

Thanks