I think a lot of it is certainly focusing on NH and funding issues, but I wouldn’t be surprised at all if they’re trying to wait and see what shakes out with a potential stadium. If there was even a small chance it could be home to a MLB stadium one day then that would likely change their plans a lot. They wouldn’t come out and say that at this point either.
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Thanks Guys! 
!!!
Yeah that stadium is all about finding a tenant then Kane will build it. For now he’ll probably focus on everything else.
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They are close to getting the site permits for the entertainment venue. So, that will probably get built first.
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I also wonder if Kane wasn’t beaten to the punch by all of the development happening closer to downtown in the corridor? If so, frankly, I don’t mind that at all. I prefer a more organic expansion of our urban core from its edges rather than a complete leapfrog that could suck energy from downtown.
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Concerning foot traffic in America’s 55 largest cities downtown, Raleigh is listed as 48th. I think that this information was in TBJ.
Interesting as it’s one of his sons that is building The Weld. Friendly family competition. 
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I mean, its a Kane and lil’ Kane corner situation over there on Saunders (the Rockway) / Lake Wheeler (the Weld)…
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Nothing we haven’t already assumed at this point…but Downtown South is officially on hold until interest rates and the real estate market improves. Per TBJ: https://www.bizjournals.com/triangle/news/2023/12/04/kane-realty-downtown-south-real-estate-financing.html
Kane Realty’s massive Downtown South district in Raleigh is on hold as the commercial real estate market remains on a downswing and capital markets run dry.
In a quarterly meeting regarding the status of Downtown South, Kane’s Chief Operating Officer Bonner Gaylord said the company is in a “holding pattern” due to the current economy.
Gaylord, in a video posted on the website for Downtown South, cited lower interest rates, investors becoming interested in real estate again and getting necessary funding as factors that need to occur for Kane Realty to start construction on the $2 billion entertainment district – the first phase of which is along South Saunders Street at Interstate 40.
They also gave updates on Phase 0 (which apparently is still on for now) and Phase 1 of the project, confirming again that office space will be split between the 6-story mass timber office building and a 27-story office tower. And they’re also currently still working thru the site plan review and permit process for the concert venue:
The meeting also included an update about the first couple phases of Downtown South. That includes the completed phase zero, which is the adaptive re-use of two warehouse buildings that total 45,000 square feet. It’ll be 31,000 square feet of office — which is already leased — and 14,000 square feet of retail.
The adaptive re-use buildings will have various retailers in them and office space.
Phase one of Downtown South will include 535,000 square feet of office in two buildings, 60,000 square feet of retail, 1,000 multifamily units in three buildings, the 3,500-capacity concert venue and a 180-room hotel.
In the quarterly update, Gaylord said the company has site plan approval and building permits in hand for the first building in phase one, a 7-story multifamily building with 280 units and 12,500 square feet of ground-floor retail. However, this building won’t come out of the ground until Kane Realty has the capital it needs to build it.
The other multifamily units will be within a 21-story tower and a mid-rise mixed-use building.
They also provided renders again (most, if not all of these I’ve seen before though).
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That is disappointing. Thanks for updating us.
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You’re welcome! I’m also willing to bet that they’re also trying to hold off until this MLB situation is figured out over the next couple of years, since they’d probably need to adjust the site plan for that stadium to work there I’m sure. It’d be a win-win for Kane if so (lower interest rates, and a brand-new professional sports league stadium).
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And there zoned for Entertainment which allows premises a stadium. Soon I can see kane and Dunedin joining forces. But now there focusing on general retail.
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Kane and Dunedin are definitely working together.
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Said this like 2 years ago in this thread but this thing was tracking for bust the second the MLS thing fell through. Interest rates, WFH are playing a role but that’s no different than every other development and DTS was off the rails prior to that. It’s good land in a good spot but gonna be 15-20 years before it amounts to anything IMO
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I am okay with DTS not sucking energy away from downtown proper. Keep the energy going closer to the actual core!
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On another note, but related… The feds are planning to lower interest rates 6 times next year. So we may see rates become a bit more reasonable and more construction take off near the end of 2024.
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Kane and Co have deep enough pockets to let this take the time it needs to happen organically…
Now, of course that won’t be fast enough for all the SimCore folx out there but, refinements will come over time and this whole area might be awesome come 2045 or whatever…
Heck, you might even be able to take a BRT leg down there ! 
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gonna be many, many years before you see any new Class A office built, let alone in a location as pioneering as this so Im sure there is a lot of “back to the drawing board” here. A huge component of the project was designed around that use.
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AFAIK this is just what ING is predicting the Fed will do. I don’t believe the Fed has announced any plans to cut rates.
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If anything, the Fed is signaling they will in fact increase rates if inflation doesn’t go down to their 2% target and data comes in stronger than expected. Just in a holding pattern for now. Will see what the slew of data coming in from this week says.
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