Developing Downtown
It’s no secret that Downtown Raleigh is currently experiencing a windfall of commercial, residential, and public sector development. The Livable Streets Strategic Plan for Downtown Raleigh is considered one of the catalysts for the $2.0 B in developments currently targeted for Downtown Raleigh. The Livable Streets plan highlighted the ‘5 in 5’ strategy for Downtown Raleigh that included five development goals to be completed by 2008. Among those goals include the Fayetteville Street Renaissance, the new Convention Center and Hotel, and regulatory reform issues to help simplify the development process in Downtown Raleigh.
The commitment by the City of Raleigh to complete the Livable Streets process has resulted in over $1.5 B of private sector development, including more than 2600 new units of residential, four new mixed-use commercial office towers, and three new hotels. Developers from across the country have taken notice of the remarkable development boom and the rapid absorption rates. A number of historic preservation efforts are also underway to restore much of Downtown Raleigh’s built legacy. Be sure to check back often to learn more about the exciting developments occurring across Downtown Raleigh.
Click here to view or download the Downtown Development powerpoint.