The Downtown Raleigh Alliance released its Quarterly Market Report, recapping the progress and data behind downtown developments, business openings, and other market trends from April 1 to June 30. Downtown Raleigh currently has $5.70 billion of investment in the development pipeline — here are some highlights:
- There are 17 developments under construction, including Alexan Glenwood South, 400H, and NC Freedom Park. Once these projects are complete, they will provide 2,032 units, 408 rooms, 164,410 office sqft, and 89,143 retail sqft.
- There are 42 projects that are planned or proposed, including Smoky Hollow Phase III, The Creamery mixed-use, and Moxy Hotel. There are an additional six projects in site preparation.
- Ten new businesses opened shop and two stores relocated. The Green Monkey is moving to its downtown location at 215 S. Wilmington Sunday, Aug. 6.
- Average food and bev sales are up from last year’s $25.2 million in Q2, with $28.1 million in sales for a 12% increase.
Want to dive into the full report? Download it.