We’ve been hearing announcements on various developments — from mixed-use spaces and residential buildings to elaborate parks and historic landmark renovations coming to the City of Oaks. In 2022, Raleigh’s business + economic development landscape will only continue to grow.
In case you skimmed over some of this groundbreaking news, here’s a quick re-cap of 15 upcoming developments you can look forward to.
Mixed-use
Salisbury Square, 700 S. Salisbury St.
This mixed-use building located at the corner of South and Salisbury streets is zoned for up to 20 stories. Plans include 180,000 sqft. of office space, 20,000 sqft. of retail space, luxury apartments, workforce housing, and a 150-room hotel. Expected completion is in 2023.
400H, 400 Hillsborough St.
Construction is under way for this 20-story multi-use development set to have 150,000 sqft. of office space, 16,000 sqft. of retail space, and 11 apartment levels. The project is expected to be completed in fall 2023.
The Creamery, 400 + 410 Glenwood Ave.
A 32-story residential tower + a 20-story office tower are planned to be introduced to the historic Creamery building. The developer has committed to preserving the Raleigh landmark, which dates back to the 1920s and is on the National Register of Historic Places. Work is expected to be complete by the end of 2024.
The Madison + 603 Glenwood, 603 Glenwood Ave.
603 Glenwood, a 12-story mixed-use office tower, will be connected to an 11-story apartment tower called The Madison. The adjoining towers will include 200 class A apartments + 114,000 sqft. of office space on top of a five-story parking deck and ground-floor retail space.
The Nexus, 215 S. McDowell St.
This four-tower, 1.15 million sqft. complex will be built on the News & Observer’s former property next to Nash Square. During the first phase of development, a 19-story mixed-use office tower will be built.
Campuses
Raleigh Iron Works, 2200 Atlantic Ave.
The historic Peden Steel mills and warehouses are being transformed into the $150 million Raleigh Iron Works project, a mixed-use development including 553,000 sqft. of creative office space, 81,000 sqft. of retail, restaurant, and fitness spaces + 219 residential units. The first phase of the project, including office, retail, and residential components, is expected to open in mid-2022.
Park City South, 927 S. Saunders St.
The first phase of this 9.7-acre development next to Dorothea Dix Park will include an 11-story building with 336 residential units + 28,500 sqft. of first floor retail space. The building, which plans to open to residents in late 2023 will feature a full spa, pool, and rooftop lounge and terrace.
MTX One, 1010 St. Albans Dr.
MTX One is a 12-story office tower and the first phase of the $1 billion, 40-acre Midtown Exchange real estate project. Over 300,000 square feet of the tower will be for offices with additional space designated for retail + conference areas. MTX One will be one of two, mirroring towers connected with a pedestrian sky bridge.
Downtown South, the intersection of S. Saunders St. + S Wilmington St.
The first two buildings of this major, ~140-acre mixed-use development project are slated to break ground by the end of the year with tenants and residents possibly moving in by 2024. Initial concepts of the development include the construction of a 20,000-seat stadium for the NC Courage and NCFC soccer teams — plus retail, residential, and office space.
Residential
615 Peace, 615 W. Peace St.
615 Peace will house 24 luxury condo units and a ground-level retail space within walking distance to downtown. Condos will range from 538 to 1,348 sqft. and each have their own private balcony–plus shared rooftop spaces for all tenants. The building, which is designed to resemble + compliment surrounding structures with an ultramodern twist, is already more than 80% full. See progress updates here.
Platform, 518 W Cabarrus St.
This seven-story residential building near Raleigh Union Station will be downtown’s largest complex yet with 442 units. In addition to residential space, the building will have 10,000 sqft. of amenity space and 26,000 sqft. of ground-level retail space. The development is currently under construction.
Primavera, 5001 Spring Forest Rd.
Construction began on this 11.2-acre senior-living apartment complex in northeast Raleigh in June 2021. It will consist of 164 units reserved for those 55 years old and up who make less than the average median income for the city. The entire development will cost $29.6 million and is spearheaded by Raleigh-based affordable housing developers DHIC. The interest list will open this summer, with construction expected to be completed in February 2023.
Hayes Barton Place, 2634 Oberlin Rd.
The plan for this senior-living community calls for not only 186 luxury independent living residences, but also 88 healthcare residences for in-home rehabilitation + treatment. The property will sit on 5.5 acres and match the classic Georgian-style architecture of the historic Hayes Barton neighborhood. The community plans to open in 2024.
Recreation
NC Freedom Park, on the corner of N. Wilmington St. + E. Lane St.
Designed by the late architect Phil Freelon, this one-acre park located near the NC State Capitol will celebrate freedom and the African American experience. The outdoor space will feature engraved phrases and quotes from famous Black North Carolinians + a large “Beacon of Freedom” sculpture. The park broke ground in late 2020 and is expected to open in late 2022.
Gipson Play Plaza at Dorothea Dix Park
In 2015, the City of Raleigh purchased 308 acres of land from the state of N.C. on the Dorothea Dix Campus + announced their master plan to create the city’s largest green space. Preparation for its new main entrance along Lake Wheeler Rd. — the Gipson Play Plaza — is well under way. The ~18-acre, $61 million plaza will sit on the southern edge of the park and include a waterfall, play spaces, a civic plaza, fountains, gardens, cookout areas, public art, interpretive signage + a rehabilitated historic house. The city is scheduled to break ground this July 2022 and estimates construction will last two years.
(Psst… This list isn’t meant to be comprehensive. With all of the development happening across Raleigh, it’s nearly impossible to keep up with what is opening when, where new businesses are being built + what companies are coming to town. If there is a construction project you would like to learn more about — or if we’ve made an error in our research — let us know and we’ll grab our hard hats.👷)
This article includes research and writing by Anne Tate, Erin McPherson, Trevor Peters + Xenna Smith. Originally published Dec. 31, 2019 and last updated Jan. 26, 2022.
