Dwight Bassett

Last week, Chapel Hill’s economic development officer, Dwight Bassett, presented some data on Chapel Hill’s housing market to a reasonably-sized crowd at Town Hall. Bassett’s presentation followed a brief talk from Robert Hickey of the National Housing Conference about what’s happening in housing trends around the country.

Like many of the other audience members, it was Bassett’s data that struck me the most. (During the Q&A following the presentations, all but one question was directed at Bassett rather than Hickey). The one number that really stood out: 3117%. That is, since 1990, the number of houses in Chapel Hill valued at over $500,000 has increased by 3117%.

Compare this to more affordable price ranges: For houses valued between $100,000-$149,000, the number of houses has increased by only 32%. For houses valued between $150,000-$199,999, there has only been a 107% increase in the number of houses.

I have no idea what the story is behind this, but I bet it's interesting. Seven months after resigning as the head of Economic Development for the Town of Chapel Hill and taking effectively the same position for the City of Raleigh, Dwight Basset has come back to his old job. I wonder how all those people who blamed his departure on Chapel Hill's supposed E.D. failings will interpret this? 

Personally I hope Bassett returns with some fresh ideas about local economies and especially about citizen particpation, which is one area where Chapel Hill has a lot to learn from Raleigh. 

Some highlights from the Town's announcement:

Dwight Bassett will return to the Town of Chapel Hill as Economic Development Officer (EDO) and part of the Town team devoted to policy and strategic initiatives supporting the goals of Chapel Hill 2020, Town Manager Roger Stancil announced today (Monday, Oct. 15).