Convention Center Expansion

First up, many say the state of downtown Raleigh depends on the success of the Convention Center Expansion along with the relocation of the Red Hat Amphitheatre.  The Convention Center will be expanded across McDowell St to where the current Red Hat Amphitheatre sits today, and will include an additional 80,000 square feet of event space and over 30 meeting rooms. 

This additional space will be key to putting Raleigh into the next tier for attracting major events, as it had been regularly losing out on many of them due to the current size of the Convention Center. 

The Red Hat Amphitheatre has become a major draw for downtown Raleigh as well, and the relocation of this Amphitheatre across South Street will be key to maintaining the economic boost it has brought to downtown businesses.  Without a major sports team downtown, this is one of the only draws for crowds downtown to feed local businesses, and its’ relocation is vital to Raleigh’s continued growth that welcomed a record 19M visitors in 2023.

And to support the expansion, a new 27-story, 550 room Omni Hotel will be built diagonally across the street.  While that’s not the only hotel set for construction in downtown Raleigh to support tourism, this is the marquee development that will add to Raleigh’s skyline and be key to attracting high-end conventions.

So with these developments, which are scheduled for a completion dates between 2026 and 2028, Raleigh will be in a position to attract a new tier of events that are great offerings themselves, as well as will serve as a catalyst for more downtown restaurant, shopping, and living space.

Southern Gateway Developments

Sticking with downtown, the southern entrance to downtown Raleigh is the most traveled entrance and does have a great view, but it is getting quite the addition of new developments.  

Sparked by the upgrades to Dix Park, which are highlighted by the Gipson Play Plaza that will have an entrance off of Lake Wheeler Rd, two major mixed-use developments are underway right across the street in the Weld and Rockway Raleigh.  Each will have hundreds of apartment units with great amenities, like rooftop pools, as well as connections to the nearby greenways and Dix Park.  And, there will be plenty of retail space for restaurants, shopping, and more to utilize.

These collections of projects will be transformative in that Dix Park is creating a marquee park and playground that will be connected not only to Pullen Park by a proposed land bridge over Western Blvd, but also to downtown Raleigh by bridge or even aerial tram.  So we will be connecting downtown with two landmark parks, along with the ability to live right in the middle of it.  And if you’re on the greenway, you’ll be riding right by the shops and restaurants of these developments. 

So having these new connections will really expand the size and feeling of downtown by adding those key park and development connections, and no doubt spur future growth along Lake Wheeler and South Saunders.

Lenovo Center Entertainment District

The next development is potentially the most impactful on this list, but before we cover it, if you have any real estate needs in the greater Raleigh area, we would love to help you as we have helped so many already from these videos, so please don’t hesitate to reach out.

Alright, this new major development is the new entertainment district at the recently re-named Lenovo Center, formerly the PNC Arena, that is home to the Carolina Hurricanes and NC State Basketball, and, neighbor to NC State football’s Carter Finley Stadium.

This entertainment district will have multiple phases completed over the next 15 years, but the first phase will include over 200,000 square feet of entertainment and lifestyle retail space, 150,000 square feet of office space, 150 hotel rooms and over 500 apartment units.  There will be a 4300 seat music venue next to a dedicated 5-acre space for tailgating, and there will be a 600 ft promenade that will have tailgating suites with balconies right next to the stadiums. 

These plans are in combination with the already announced renovations to the Lenovo Center, which will bring state-of-the-art features to the hockey and college basketball arena such as a new façade, a rooftop bar, luxury suites, and more.

So why is this transformative?  Raleigh will be creating a sports and entertainment district that few other cities have, and will be creating a district in an underutilized part of Raleigh that will keep the area lively year-around.  This will further improve Raleigh’s ability to attract tourism to the area, and spur additional growth nearby.

HUB RTP

Speaking of an underutilized area that is about to be put on the map, HUB RTP is transforming one of the world’s largest research parks into an entertainment destination as well.

HUB RTP has been dubbed the downtown of the Research Triangle Park, and at full buildout, will be 100 acres of development with 1M square feet of office and lab space, over 1200 apartment and condo units, 250 hotel rooms, and 50K square feet of retail and restaurant space.  The renderings look really cool and the water feature running through the development is a nice touch.

But the reason HUB RTP made this list, is that the Research Triangle Park has long been thought of as just a place people work.  There was no housing or entertainment, period.  Over time, there has been some introduction of apartments, walking trails, and parks, but HUB RTP is taking this to the next level, as it will be a place where people come to for entertainment on the weekends, and even live at.  

For young professionals, being able to live minutes from work where you could even take your bike through the network of trails, and then coming back to a number of restaurants and bars in the evening is a game changer for the area, and will be a catalyst that will make the Research Triangle Park almost feel like a town in itself.  So the Triangle as a whole is again gaining a net new area for entertainment.

The S-Line

So this next one is a little different, but I believe its’ significance has flown under the radar since its’ announcement, which is the future S-Line track that will be installed from Raleigh to Richmond.  This will be critical in that it will connect Raleigh to the high speed rail network already established in the Southeast, and make traveling to Richmond and Washington DC much easier.  

The S-Line itself is the specific network of tracks connecting Raleigh to Richmond, and this passenger rail will travel at speeds of up to 110mph and has been advertised as being the most technically advanced railways in the southeast once completed.  

But one under the radar benefit of the S-Line is that beyond it’s connection of Raleigh and Richmond, which will no doubt drive more tourism to both city centers, there will be stops in suburbs like Apex, Wake Forest, Youngsville, and Henderson; and especially for Wake Forest and Apex, which are more established destinations, will likely lead to an increase in development in and around the train stations.  

This will likely include more hotels, restaurants, and entertainment areas to hopefully spark tourism in these areas, as they will have an opportunity to entice a new set of tourists they never would have had access to without this new track.

So I believe the S-Line will have a greater economic impact on our area than has been broadly advertised thus far, and it will certainly make intercity traveling much easier on Raleigh residents.

Disney’s Asteria 

This last development is just outside Raleigh in Pittsboro, NC, but Disney’s proposed Asteria community is going to be a neighborhood unlike the southeast has seen.  

This neighborhood is advertised as one that will be woven naturally into the landscape, so it will have a strong focus on nature with an extensive network of trails, community gardens, and wellness centers for residents to enjoy.  And the community will be HUGE, with over 4,000 units planned.

The uniqueness of this community though will be the touch of Disney’s magic, as the neighborhood will be run by Disney employees, also known as cast members.  The amazing customer service of Disney will be evident in resident’s everyday interactions, and there will be select Disney themed events for residents to enjoy.

So by Disney choosing Pittsboro, which was heavily inspired by its’ proximity to Raleigh, to build only it’s second community like this in the United States, it is yet another major development that puts the greater Raleigh area on the map in a unique way.  And, it will be a way for residents to experience a part of Disney magic without having to leave their neighborhood.  

So these are the developments that I believe once completed, will have very positive, influential impacts to the greater Raleigh area. 

Check out our other blogs on the massive changes coming to Downtown Raleigh and the 10 big ideas for saving Downtown Raleigh.

If you need help finding your next home in Raleigh, Durham, or anywhere else in the triangle, our team at the W Real Estate Group would love to help!

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