9 Exciting Developments Coming Soon to Raleigh, NC

#1 – North Hills Innovation District

Let’s start off in midtown Raleigh, where North Hills has an expansion underway called the North Hills Innovation District. 

This mixed-use development already has some of its’ 1500+ residential units complete, and its’ 17 story office tower mixed with retail space is planning to open during the middle of 2024.

The district will be highlighted by Makers Alley, a collection of “micro-retailers” with smaller spaces lining the outdoor recreation, and there will also be other marquee spaces for food and drink, which includes a 2 story food hall.

But one of its’ main attractions will be the preserved greenery, as there will be plenty of open space to walk or relax in around the district itself.

#2 – The Exchange Raleigh

The new Exchange Raleigh is another incredibly designed mixed-use development in midtown Raleigh that is immediately southeast of the previously mentioned North Hills Innovation District along I-440.

This massive development will have quite a bit of office space, nearly 1300 residential units, and 300 hotel rooms.  But most exciting are its’ entertainment options, as it will have over 125,000 square feet of retail and dining space available that will be filled with boutique style offerings.  

And the entire district is built around open green space and walking trails that come complete with beautiful water features that total over 4 acres in size.  This $1B project is currently underway and will be completed in phases with the first of the major towers to be completed this spring.

#3 – Disney Asteria

Next up, Disney is coming to the Triangle!  This new residential development, called Asteria, is one of just two communities like this in the country, and the only one on the east coast!

This community will be part of the Chatham Park development and it’s theme is all about celebrating North Carolina’s outdoor beauty.  There will be miles of walking trails throughout the community and will be designed for residents to learn and grow through nature.

The community will be massive, with over 4,000 residential and multi-family units, and there will even be a 55+ section.  

Now, don’t expect this to be like Disney World with characters walking everywhere, but there will be Disney themed events and meals.  What you should expect though is everything to be of the upmost quality as Disney’s standards require, and the amenities are going to be amazing.  There will be wellness and recreation centers, restaurants, sports courts, swimming pools, event spaces, and more.

First sales are anticipated in 2027.

Hub RTP

Moving on, Hub RTP is currently under construction in the heart of the Research Triangle Park and is deemed the downtown of RTP.

Located right next to Boxyard RTP and Frontier RTP, Hub RTP will combine residential, commercial, and retail spaces into one area, and feel like a smaller version of North Hills.  It will include RTP’s first true high rise building, with plenty of other commercial spaces and labs spread around, so many people will work right here in this area.  

But for the first time, there will be residential condos and apartments available for people to live in a walkable community.  There will be plenty of restaurants, breweries, and spaces for live music, and it will be centered around Burden’s Creek to provide a natural element to the beautiful space.

RTP is transforming itself into a real destination, and is going to be somewhere you’ll want to visit even if you don’t work there.

Salvage Yard at Raleigh Iron Works

Next up, The Raleigh Iron Works District is continuing to expand!  Already home to a live, work, play environment of its’ own with a variety of restaurants and retailers, the Salvage Yard across the street is going to be another entertainment hub!

Located right next the new Raleigh Iron Works Development, the Salvage Yard will be home to more restaurants and bars that feature Bond Brothers’s newest bar NOCO, the Triangle Rock Club, a Pickleball meets bar concept, and the Cannonball Music Hall.

This will be a really fun destination that you could spend the whole day at!

Rockway Raleigh

Another Kane Realty Development is coming to downtown Raleigh, called Rockway Raleigh.  Located right next to Dix Park and its’ future Gipson Play Plaza as well as the Rocky Branch Greenway Trail, Rockway Raleigh will be a mixed-use development that builds off of blending urban living with nature.

The Rockway Raleigh is designed to have over 1,000 residential apartment units at full buildout with over 7000 square feet of street-level retail space.  There will be a variety of amenities that include a rooftop lounge, pool, and fitness center.

But the main draw will be its’ connection to both the greenway through Dix Park as the greenway literally runs right by it, as well as the ease of getting into downtown Raleigh.  This amazing location gives you the best of both worlds. 

Convention Center Addition

Now moving into some downtown Raleigh news, the Convention Center is expanding, with the goal in mind of positioning itself to attract the top events in the country.

Projected to be complete in 2028, the Convention Center is expanding by over 300,000 square feet adding 30 meeting spaces and 80,000 square feet of flexible space.  This expansion will be built where the current Red Hat Amphitheatre sits today, with a walkway across McDowell to connect the spaces.

But don’t worry, the Red Hat Amphitheatre will be relocated prior to the Convention Center expansion, moving one block south to where there’s currently an open, gravel lot.

Omni Hotel Downtown

With the Convention Center Expansion, what downtown Raleigh really needs is more hotels, and Omni Hotels is answering the call, with plans to build a 27 story, 550 room hotel right in front of the Martin Marietta Center for the Performing Arts.

This massive hotel will be as tall as the Truist Building and have a rooftop pool, luxury spa, and meeting spaces.  Having a hotel like this in downtown Raleigh, right next to the Convention Center, will allow Raleigh to attract more top events, bringing more entertainment to the area.  

The hotel is projected to be completed by 2027.

Fayetteville St Revitalization

Raleigh is also actively working on revitalizing Fayetteville St.  Once the center of downtown’s entertainment, Fayetteville St was hit hard by the pandemic.

But Raleigh has plans to bring it back as the “front porch” of downtown to match the energy of downtown’s other growing districts.  

The revitalization is still very much in the planning phase, but the general theme is to overhaul the street with a new design celebrating art, providing event space, and more, add more housing and retail, and overall position it as Raleigh’s true Main Street.

This exciting development doesn’t yet have a completion date but along with many of the other developments, I would expect it to be completed in coordination with the Omni Hotel and Convention Center in the 2027 time frame.  

These are just a handful of exciting developments coming to Downtown Raleigh.  If you haven’t checked it out yet, take a look at our previous blog aimed at parks and entertainment spaces coming to Raleigh as well.

If you need any assistance buying or selling a home in the Raleigh area, please don’t hesitate to reach out as our team would love to help you.

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