Not surprising but city council approves rezoning for the development around Lenovo Center. Construction should start shortly after the 2025 NC State Football season ends.
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That area of Raleigh will blow up.
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Yeah, we will continue to âblow upâ areas of the city that are very car dependent: resulting in more walkability that you have to (except @GucciLittlePig & @GucciLittlePenguin ) drive to.
We need more large scale energy and commitment to downtown proper.
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just SO MUCH EASIER and cheaper to acquire a huge swath of land, acres and acres, master plan it, and build it out intentionallyâŠa la North Hills, Fenton etc. (and now Lenovo Center âEntertainment Districtâ)
rather than try and assemble large parcels downtown to do anything on a scale approaching this.
I would love more downtown. This definitely will compete for development. Billions of dollars. Wow.
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Itâs easy to get swept up in â$1 billionâ headlines and assume that Raleighâs downtown is being overlooked in favor of cheaper or more convenient developments on the outskirts. However, examining the facts about Raleighâs growth provides a clearer picture of where the majority of investment dollars are truly being directed.
The Lenovo Center entertainment district expansion is a promising addition to the region, but itâs important to note that the timeline spans 20 years. Phase I includes two parking structures, a tailgating zone, and a 4,500-seat music venue. While itâs pitched as a $1 billion development, this figure is speculative and not guaranteed, as each phase relies on meeting specific milestones for progress to continue. Significant momentum will be necessary for this project to fully materialize as envisioned.
For reference in Raleighâs downtown core (which is larger at 700+ acres compared to 80 acres):
- Block 83 sold for $330M
- Peace Street apartments sold for $152M
- $77M Development of 400H
- $700M Development of Weld Project
- $63M Development of Alexan
- $156M valuation for Platform Apartments
I didnât even include Maeve, 301 Hillsboro, AC Hotel, Smokey Hollow, Rockway, or the dozens of other projects currently under construction, along with the $2+ billion pipeline of upcoming developments. This all points to downtown Raleighâs strong momentum, solid foundation, and likelihood of receiving the majority of regional investment dollars, even as hubs like North Hills, Midtown Exchange, Fenton, and RTP continue to see significant growth and development.
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I think you may have just taken some wind out of the sails of the Lenovo project. Not to say that it wonât be a great development (some day) but other developments are happening right now. Thanks for the perspective that we all needed.
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