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Learn how downtown Raleigh has grown and changed in Q1 of 2024

The report outlines current and planned developments, food and beverage tax revenue, and other market trends.

Downtown Raleigh

An aerial view of downtown Raleigh.

The Downtown Raleigh Alliance released its 2024 market report for Q1, sharing updates and info on major developments, local business news, and more in the downtown area.

Catch highlights here before diving into the full report.

By the numbers

In Q1, there were...

  • 2,230 residential units under construction
  • 19 new storefront business openings
  • 19 developments under construction that will bring residential units, hotel rooms, and retail space
  • 86% of class A office spaces occupied
  • 1.5 million unique downtown visitors

News + updates

  • A site plan has been filed for the second phase of The Weld, a multi-phase development near Dix Park. Phase two plans include a 20-story building (with 525 apartments), 20,000+ sqft of retail space, and a rooftop terrace.
  • Coming soon to downtown: an ABC store + Alaksha’s Indian Bistro.
  • An initial report on the future of the Fayetteville Street area features ideas like repositioning City Plaza as “downtown’s front porch” + developing a streetscape design for Fayetteville Street.