The Downtown Raleigh Alliance released its 2023 Q3 downtown Raleigh report detailing housing, development, and business statistics from July through September of this year. Here are a few need-to-know facts from this report.
Downtown has gained a net of 30 storefront businesses so far in 2023. Q3 additions include Hotbox Pizza in Morgan Street Food Hall, Blackbird Books & Coffee, and The Green Monkey’s relocation to South Wilmington Street.
Businesses coming soon include ice cream shop Milk & Sin on East Martin Street, an ABC Store on South Salisbury Street, and Little Native, a cafe on South Person Street.
Other interesting stats from this report include the 1.8 million unique visitors that traveled to the 919 this quarter, an increase of 3.3% from Q3 2022 — most likely due to events like IMBA Bluegrass Live, which will leave Raleigh + be replaced after the 2024 festival.
As for housing updates, over 2,400 residential units are under construction with an apartment occupancy rate of 94.4% and an effective rent per sqft price of $2.23.
Learn more about how the City of Oaks is growing by reading the DRA’s full report.
