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Carolina Hurricanes lease extension and PNC Arena’s mixed-use enhancement approved by Centennial Authority

PNC Arena’s multi-phase, mixed-use enhancement has been approved by the Centennial Authority after the Canes extended their lease until 2044.


One of the PNC Arena’s Club Level renovations could be a dedicated kitchen for club suite patrons.

A $800 million mixed-use district around PNC Arena has been approved by the Centennial Authority, enhancing the area for the Carolina Hurricanes, NC State athletics, and other entertainment coming to the 919.

PNC Arena has been allotted $300 million for an arena enhancement project which will begin construction in 2025, upgrading the 25 year old stadium and adding an 80-acre entertainment district surrounding the arena. Initial plans were outlined in August 2023.

Phase one will utilize $200 million, focusing on adding 200,000 sqft of entertainment and lifestyle retail, a 150-room hotel, and 500 apartments with 50 reserved for affordable housing. The initial phase is anticipated to be completed by 2030.

Additionally, in a following phase — in which a timeline has not yet been determined — a 4,000+ seat ballroom will be sponsored by Live Nation for music + entertainment acts that come to Raleigh. Think: a bit smaller than Red Hat Amphitheatre. Food + beverage establishments, plazas, a dedicated tailgating section, and convenient parking with direct walking access to PNC and Carter-Finley Stadium will also be made available.

Canes owner Tom Dundon is in charge of allocating the $800 million in developments over the course of 20 years.

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