Support Us Button Widget

New coffee shop, growing visitors, and more in the 2023 Q3 downtown Raleigh report

We broke down the Downtown Raleigh Alliance’s quarterly report on the state of downtown. Read the highlights of the Q3 downtown Raleigh report.

Downtown Raleigh

Downtown Raleigh saw 18 developments under construction in Q3, 2023.

Photo by @dyyymondaerials on Instagram

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.