Q3 2023
MARKET REPORT
DOWNTOWN RALEIGH
SUMMARY AND HIGHLIGHTS: Downtown Raleigh is growing with 18 developments under construction and when completed they will deliver 2,472 residential units, 410 hotel rooms, 155,610 square feet of office space, and 160,679 square feet of retail. An additional 47 planned and proposed developments would bring 7,256 residential units, 1,840 hotel rooms, 587,220 square feet of office space, and 236,956 square feet of retail. Downtown Raleigh’s stabilized apartment occupancy rate is 94.4% and effective rent have decreased slightly year over year at $2.23 per square foot.3 Stabilized occupancy does not include recently completed developments. The Platform at 600 W Cabarrus is now welcoming residents to move into 442 units in the growing Warehouse District. A total of 3,221 residential units are either under construction or have delivered so far this year. Downtown’s direct vacancy rate for office space, which does not include sublease space available for immediate occupancy, ended the quarter at 12.5%, decreasing slightly from 14.7% in Q3 2022.4 Average Class A rent remains flat year over year at $39.72 per square foot.4 400H is expected to deliver 144,410 square feet of Class A space in the fourth quarter.
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
Photo: AK Photography
18
DEVELOPMENTS UNDER CONSTRUCTION1
Q3 2023
2,472
RESIDENTIAL UNITS UNDER CONSTRUCTION1
Q3 2023
+30
NET GAIN IN STOREFRONT BUSINESSES1
YEAR TO DATE DRA
1
CBRE 3CoStar 4 JLL 2
1
The downtown storefront economy added seven new storefront businesses in the third quarter while five businesses closed during the same time frame. Among the new businesses that have opened are several retailers: Limatus Bespoke, Hause of Dogs, Needle & Thread Co., and Sarah Rose Glickman Art.
94.4%
Stabilized Apartment Occupancy Q3 20225
Average monthly food and beverage sales decreased 2.7% year over year during the first two months of the quarter, however the Warehouse District saw a 14.4% increase during the same period.2 Total food and beverage sales between January and August have increased 6.5% over the same period last year.2
$204M
Estimated Food & Beverage Sales January to August2
Average daily pedestrian counts across six downtown counting sites decreased by 4.9% from Q3 2022.3 Overall visitor visits increased 3.3% year over year for the third quarter as 1.8 million unique visitors came downtown.4 Glenwood South saw a 7% increase in total visitor visits from the previous quarter.4 Total pedestrian counts between January and September are unchanged year over year.
+19.6% INCREASE
*Average Monthly Hotel Room Sales Revenue From Q3 20222
There are 410 hotel rooms under construction in two projects with another 1,840 rooms proposed or in planning. Average monthly hotel room sales revenue increased 19.6% year over year with August increasing 23%.2
1.8M
UNIQUE VISITORS Q3 20234
133 E Hargett Street was sold in July for $1.28 million, the property once housed The Remedy Diner.5
DRA Wake County Tax Administration 1
2
Eco-Counter Placer.ai 5 CoStar *Only July and August data available 3
NEW DATA HIGHLIGHT: DOWNTOWN WORKDAY POPULATION There were an average of 54,182 visits each weekday in Q3 between 9AM and 5PM by downtown employees, residents, and visitors.4 This workday population level is 81.7% of the Q3 2019 figure and is a 9.7% increase year over year from Q3 2022.4
4
DEVELOPMENT UPDATES: Overall, there is $7.1 billion of investment in the current Downtown Raleigh development pipeline.1 This includes an estimated $2.1 billion in projects completed since 2015, $1.1 billion in projects under construction, and $3.8 billion in proposed or planned developments.1
$2.1
BILLION
Completed (since 2015)
$1.1
BILLION
Under Construction as of Q3
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
$3.8
BILLION
in Site Preparation/ Proposed/Planned Developments
$7.1
BILLION
Completed since 2015, Under Construction, in Site Preparaion, and Planned Developments 2
Platform Residents have begun moving into the recently completed Platform apartments at 600 W Cabarrus Street. The 442unit development features an outdoor lounge area with a pool, a co-working lounge, and a 24-hour fitness club. The development adds over 27,000 square feet of new retail space to downtown and the Warehouse District.
Image: rendering of The Platform Apartments Credit: Kane Realty
320 W South Construction is progressing at 320 W South and when complete the development will add 296 apartments and 10,000 square feet of retail to the southwest edge of downtown. The 20-story Warehouse District development will have approximately 30,000 square feet of amenity space including a swimming pool, rooftop lounge, coworking space, and fitness center.
Photo: 320 W South under construction
Noble Place Construction has begun on 16 three-story condos at the corner of Boylan Avenue and North Street. Each unit will have a single car garage with electric vehicle charging, private outdoor spaces, and open-concept floor plans.
Image: rendering of Noble Place Credit: Glenwood Agency DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
3
Q3 2023 DEVELOPMENT MAP Completed Since 2020 Under Construction In Site Preparation, Planned, or Proposed
47 21
30 49
32
51
58 13 52
1
26
6
12
31 4
7
41
23
39 16
48
27
14 46 5
60 19
56 45
61
54
3 18 35 36 17
53
10
33 22 64
An interactive development map with updated listings of project information and images is viewable at downtownraleigh.org/ do-business/ developments
8
9 55 11 24
63
57
20 25
2
42 62
29 50 44
15 38 28
34
40
59
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
4
RECENTLY COMPLETED (SINCE 2020) #
NAME
Investment
SF
Units/Rooms
Type
2020 1
CAMERON CREST
$4,207,192
16,200 SF
6 units
Townhome
2
CITY PLAZA RENOVATION
$3,100,000
N/A
N/A
Public Space
3
HARGETT WEST
$4,000,000
25,500 SF
N/A
Office/Retail
4
LONGLEAF HOTEL
$6,500,000
20,812 SF
56 rooms
Hotel/Retail
5
THE CASSO
$22,702,726
71,794 SF
126 rooms
Hotel/Retail
6
PEACE (SMOKY HOLLOW PHASE I)
$150,000,000
652,500 SF
417 units
Apartment/Retail
7
THE SAINT
$23,000,000
53,199 SF
17 units
Townhome
8
SIR WALTER APARTMENTS (RENOVATION)
$15,000,000
20,000 SF
18 new units
Apartment
9
SOUTH DAWSON RETAIL RENOVATIONS
$471,857
9,746 SF
N/A
Retail
2021 10
HEIGHTS HOUSE HOTEL
Not available
10,000 SF
9 rooms
Hotel
11
THE FAIRWEATHER
$28,000,000
103,250 SF
45 units
Condo/Retail
12
THE LINE APARTMENTS (SMOKY HOLLOW PHASE II)
$95,000,000
271,589 Residential SF / 30,000 Retail SF
283 units
Apartment/Retail
13
421 N. HARRINGTON ST (SMOKY HOLLOW PHASE II)
$95,000,000
225,000 Office SF / 20,000 Retail SF
N/A
Office/Retail
14
TOWER TWO AT BLOC[83]
$108,000,000
241,750 Office SF / 30,000 Retail SF
N/A
Office/Retail
15
JOHN CHAVIS MEMORIAL PARK IMPROVEMENTS
$12,000,000
N/A
N/A
Public Space
16
AC HOTEL RALEIGH DOWNTOWN
$25,000,000
88,454 Hotel SF / 3,860 SF Retail
147 rooms
Hotel
17
FIRST CITIZENS BANK BUILDING (RENOVATION)
$9,000,000
N/A
N/A
Public Space
18
208 FAYETTEVILLE (RENOVATION)
Not available
18,000 Office SF / 9,000 Retail SF
N/A
Office/Retail
19
RALEIGH CROSSING PHASE I
$160,000,000
287,252 Office SF / 12,100 Retail SF
N/A
Office/Retail
20
333 FAYETTEVILLE (RENOVATION)
$750,000
N/A
N/A
Office
2023 21
THE SIGNAL
$95,000,000
30,000 Retail SF
298 units
Apartment/Retail
22
THE PLATFORM (WEST END PHASE I)
Not announced
26,000 Retail SF
442 units
Apartment/Retail
23
NC FREEDOM PARK
$5,400,000
N/A
N/A
Public Space
24
DUKES AT CITY VIEW
Not announced
N/A
8 units
Townhome
TOTALS:
$917,391,775
793,102 Office SF / 233,470 Retail SF
1,535 units / 338 rooms
25
THE ACORN AT PERSON ST
Not announced
N/A
107 units
Apartment
26
SEABOARD STATION BLOCK A
Not announced
11,400 Retail SF
75 units / 149 rooms
Apartment/Hotel/Retail
27
400H
$130,000,000
144,410 Office SF / 16,935 Retail SF
242 units
Apartment/Office/Retail
28
ROCKWAY RALEIGH - PARK CITY SOUTH PHASE I
Not announced
16,800 Retail SF
336 units
Apartment/Retail
29
320 W SOUTH
Not announced
10,000 Retail SF
296 units
Apartment/Retail
30
SEABOARD STATION BLOCK C
$125.000.000
34,656 Retail SF
204 units
Apartment/Retail
31
NOBLE PLACE
Not announced
N/A
16 units
Condo
32
615 PEACE
$7,000,000
2,200 Retail SF
24 units
Condo/Retail
33
TEMPO BY HILTON/HOMEWOOD SUITES
Not announced
1,810 Retail SF
259 rooms
Hotel/Retail
34
GIPSON PLAY PLAZA (DIX PARK)
$55,000,000
N/A
N/A
Public Space
35
210 FAYETTEVILLE ST (RENOVATION)
Not announced
Not announced
Not announced
Retail
36
216 FAYETTEVILLE ST (RENOVATION)
Not announced
Not announced
Not announced
Retail
37
ROW 12
Not announced
N/A
12 units
Townhome
38
MIRA RALEIGH
Not announced
4,000 Retail SF
286 units
Apartment/Retail
39
122 GLENWOOD AVE
Not announced
20,000 Office SF / 10,505 Retail SF
N/A
Office/Retail
40
THE WELD
$700,000,000
9,700 Retail SF
675 units
Apartment/Retail
41
ALEXAN GLENWOOD SOUTH
$63,000,000
8,000 Retail SF
186 units
Apartment/Retail
42
IDYLE
Not announced
N/A
10 units
Townhome
TOTALS:
$1,083,600,000*
164,410 Office SF / 133,551 Retail SF
2,472 units / 410 rooms
43
865 MORGAN
Not announced
900 Retail SF
401 units
Apartment/Retail
44
SALISBURY SQUARE PHASE I
Not announced
13,720 Office SF
366 units
Apartment/Retail
45
UNION WEST - RUS BUS
$200,000,000
18,000 Retail SF
587 units
Apartment/Retail/Transit
46
TOWER THREE AT BLOC[83]
Not announced
Not announced
N/A
Not Announced
47
707 SEMART DR
Not announced
11,000 Retail SF
680 units
Apartment/Retail
48
KIMPTON MIXED-USE
Not announced
Not announced
350 units / 179 rooms
Apartment/Hotel/Retail
49
MADISON MIXED-USE
Not announced
13,000 Retail SF
313 units
Apartment/Retail
50
SALISBURY SQUARE PHASE II
Not announced
3,850 Retail SF
300 units
Apartment/Retail
51
SMOKY HOLLOW PHASE III
Not announced
Not announced
Not announced
Apartment/Office/Retail
52
THE CREAMERY MIXED-USE
Not announced
242,000 Office SF / 17,212 Retail SF
295 units
Apartment/Office/Retail
53
221 W MARTIN
Not announced
Not announced
450 units
Apartment/Retail
54
330 W HARGETT
Not announced
17,381 Retail SF
372 units
Apartment/Retail
55
401 CABARRUS
Not announced
7,964 Retail SF
298 units
Apartment/Retail
56
BLOOMSBURY APARTMENTS
Not announced
2,475 Retail SF
237 units
Apartment/Retail
57
CABARRUS AND DAWSON RESIDENCES
Not announced
Not announced
261 units
Apartment/Retail
58
MOXY HOTEL
Not announced
Not announced
169 rooms
Hotel
59
PARK CITY SOUTH PHASE II
Not announced
Not announced
386 units
Apartment/Retail
60
RALEIGH CROSSING PHASE II
Not announced
Not announced
275 units
Apartment/Retail
61
VELA LONGVIEW
$170,000,000
10,268 Retail SF
374 units
Apartment/Retail
62
WILMINGTON STREET MIXED USE
Not announced
Not announced
387 units
Apartment/Retail
63
COURTYARD MARRIOTT
Not announced
Not announced
179 rooms
Hotel
64
518 W CABARRUS (WEST END PHASE II)
Not announced
Not announced
240 units
Apartment/Retail
TOTALS: **
$3,791,838,000*
587,220 Office SF / 236,956 Retail SF**
7,256 units / 1,840 rooms
UNDER CONSTRUCTION
IN SITE PREPARATION, PLANNED, & PROPOSED
25 ADDITIONAL PLANNED & PROPOSED PROJECTS CAN BE FOUND AT downtownraleigh.org/do-business/developments
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
*Totals based on investment estimates **Totals for Planned & Proposed projects include projects not listed in table. See website for full list of these projects.
5
MARKET HIGHLIGHTS OFFICE
OFFICE MARKET
Q3 2023 Class A Office Average Rent PSF1
$39.72 Class A Office Vacancy Rate1
18.74%
Class A Office Net Absorption1 Photo: Office tenant amenity patio at 150 Fayetteville Street Credit: Brian Mullins
Class A net absorption for the third quarter was -12,033 square feet and the average class A asking rent is $39.72 per square foot.1 Total direct vacant office space has decreased by 436,715 square feet since Q4 2021 with direct vacancy at 12.5%.1 Direct vacancy does not include sublease space that is available for immediate occupancy. 144,410 square feet of Class A office space is under construction at the 400H development which will be delivered in Q4 2023.
-12,033 SF Total Office Inventory2
6,148,057 SF Office Delivered Since 20153
1,828,479 SF PERFORMANCE INDICATOR: TOTAL DIRECT VACANT OFFICE SPACE (SF)1
Office Sublease Space Available1
487,205 SF JLL 2CBRE 3 DRA 1
-436,715 SF
DECREASE IN DIRECT VACANT SPACE FROM Q4 2021
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
6
MARKET HIGHLIGHTS RESIDENTIAL
RESIDENTIAL MARKET
Q3 2023
Stabilized Occupancy1
94.4% Effective Rent per SF1
$2.23 Residential Inventory2 Photo: The recently completed Platform Apartments Credit: AK Photography
The downtown residential market is expanding rapidly with 13 residential developments under construction and when completed will add 2,472 residential units. An additional 7,256 units in 22 residential developments have been proposed or are in planning. A total of 3,221 residential units are either under construction or have delivered so far this year. Downtown’s stabilized occupancy rate, which does not include recently completed projects, remains high at 94.4%.1 The effective rent per square foot is $2.23, or $1,796 per unit.1
PERFORMANCE INDICATOR: APARTMENT STABILIZED OCCUPANCY RATE 1
8,655 units Units Under Construction 2
2,472 CoStar DRA
1
2
SOUTH’S
CITY #2 BEST ON THE RISE 2022
Raleigh
Southern Living March 2022
#1 HOTTEST HOUSING
MARKET IN THE U.S. Raleigh
U.S. News February 2023
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
7
MARKET HIGHLIGHTS STOREFRONT
RETAIL MARKET
Q3 2023 Retail SF Under Construction1
160,679 Retail SF Planned or Proposed1
236,956 Photo: interior of Arrow Credit: Brian Mullins
There were seven storefront openings and two expansions in the third quarter while another 28 storefront businesses are slated to open in the near future. There were five business closings in the quarter for a net gain of two storefront businesses. Among the new businesses opening in downtown is Incendiary Brewing at 612 W Morgan Street, the 12th craft brewery or distillery to open in Downtown Raleigh. Average daily pedestrian counts across DRA’s six downtown counters decreased 4.9% year over year in the third quarter.2 Total pedestrian counts year to date are flat year over year.
New Storefront Business Openings & Expansions (Q3)1
9
Storefront Business Openings & Expansions YTD1
56
DRA Eco-Counter
1
2
PERFORMANCE INDICATOR: AVERAGE DAILY COMBINED PEDESTRIAN COUNT ACROSS SIX COUNTER SITES IN DOWNTOWN1
CITY #1 BEST TO START A BUSINESS
Raleigh
LendingTree 2021
-4.9%
DECREASE IN PEDESTRIAN COUNTS FROM Q3 20221
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
8
MARKET HIGHLIGHTS
RETAIL MARKET
STOREFRONT
Q3 2023 Average Monthly Food & Beverage Sales in Q31*
$24.7
MILLION $25.3 Million in Q3 2022
Restaurants & Bars In Downtown With Outdoor Seating2 Photo: Streetery at Raleigh Times Credit: Brian Mullins
FOOD AND BEVERAGE SALES BY DISTRICT IN Q31
Average monthly downtown Capital food & beverage sales for District the first two months of Q3 decreased 2.7% year over Warehouse year to average $24.7 million.1 District The Fayetteville Street and Moore Square Glenwood South districts District each saw a 7.1% and 9.9% decrease, respectively, while the Warehouse District saw a 14.4% increase.1 Total food and beverage sales have increased 6.5% year to date.
Glenwood South
160+
Craft Breweries & Distilleries In Downtown2
12
Wake County Tax Administration, DRA *Only July & August data available 2 DRA 1
Fayetteville Street
PERFORMANCE INDICATOR: AVERAGE MONTHLY FOOD AND BEVERAGE SALES BY QUARTER1
+6.5%
INCREASE
YEAR OVER YEAR TOTAL SALES FROM JANUARY TO AUGUST1
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
9
Q3 2023 STOREFRONT ACTIVITY Openings & Expansions Closings Coming Soon
24 18 2317 30 29 28
25 31 37 26 38 6 39 33 14
35 41 13
32 8
21
19 34
36 43
44 11
4 9 10 45 20 16 42
22
7 2
3 40
Looking for retail space? Visit: downtownraleigh.org/ do-business/space-available 12
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
1
15
5
10
Q3 2023 STOREFRONT BUSINESS ACTIVITY #
Business Openings in Q3
Type
Date
1
Raleigh Podcast Studio
Service
July 2023
2
Blackbird Books & Coffee
Cafe/Retail
July 2023
3
Alive
Bar
July 2023
4
The Green Monkey (Relocation & Expansion)
Retail/Bar
July 2023
5
Chido Taco
Restaurant
August 2023
6
Hause of Dogs
Retail
August 2023
7
Limatus Bespoke
Retail
August 2023
8
Hotbox Pizza
Restaurant
August 2023
#
Early Q4 Openings
9
Needle & Thread Co.
Retail
October 2023
10
Sara Rosa Glickman Art
Retail
October 2023
11
The Lotus Room
Experiential
October 2023
12
Feature Flora
Retail
October 2023
13
Incendiary Brewing
Brewery
October 2023
14
Devolve
Bar
October 2023
15
Yatai Market
Restaurant
October 2023
#
Business Closings in Q3
16
Frills Atelier
Retail
July 2023
17
Rainbow Luncheonette
Restaurant
July 2023
18
The Pink Boot
Bar
July 2023
19
Bella’s Wood Fired Pizza
Restaurant
August 2023
20
Aesthetic Appeal Jewelry
Retail
September 2023
#
Coming Soon
21
The High Tide Salon Suites
Service
22
Milk & Sin
Restaurant
23
The Devereaux
Bar/Nightclub
24
Prospects
Restaurant
25
Embargo
Bar/Nightclub
26
Heat Studios
Service
27
Gussie’s
Bar/Retail
28
The Eye Institute (Relocation)
Service
29
Biscuit Belly
Restaurant
30
The Yard
Restaurant
31
The Crunkleton
Bar/Nightclub
32
Press Coffee, Cocktails & Crepes
Restaurant
33
Pearl & Peril (Expansion)
Bar/Nightclub
34
La Terrazza
Restaurant
35
Anthony’s La Piazza Italian Restaurant + Bar
Restaurant
36
ABC Store
Retail
37
Morelia Gourmet Paletas
Restaurant
38
Alksha’s Indian Bistro
Restaurant
39
Noire Nail Bar
Service
40
Little Native
Cafe/Retail
41
Volofit
Fitness
42
Flavor Hills
Restaurant
43
Figulina Pasta + Provisions
Restaurant
44
LM Restaurants Concept at 150 Fayetteville St
Restaurant
45
Umbrella Bar
Bar/Nightclub
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
11
MARKET HIGHLIGHTS HOTEL & TOURISM
HOTEL + TOURISM MARKET
Q3 2023
410
Hotel Rooms Under Construction3
338 Photo: Downtown Raleigh Alliance Ambassadors posing with their new equipment
New Hotel Rooms Added Since 20203
Average monthly hotel room tax revenue increased 19.6% year over year for the months of July and August, the only two months available.1 Total visitor visits in downtown increased 3.3% year over year for the third quarter and saw 1.8 million unique visitors.2
1.8M
There are 410 hotel rooms under construction in Downtown Raleigh including 261 rooms in the dual brand Tempo by Hilton & Homewood Suites located at 200 W Davie Street. An additional 1,840 hotel rooms have been proposed or are in planning.
PERFORMANCE INDICATOR: DOWNTOWN RALEIGH VISITOR VISITS2 Visits to Downtown Raleigh in Q3 2023 increased 3.3% year over year
Unique Downtown Visitors in Q32
$9.4M
Average Monthly Hotel Room Revenue July & August Wake County Tax Administration, DRA 2 Placer.ai 3 DRA 1
#1 MOST AFFORDABLE SOUTHERN CITY FOR 2022 FAMILY VACATION Southern Living
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
12
NEWS & EVENTS Raleigh Selects OMNI Hotel for 550-Room Convention Hotel The City of Raleigh entered into negotiations with Omni Hotels & Resorts to develop the highly anticipated convention hotel in the core of Downtown Raleigh. The new hotel will be built on an approximately one-acre lot at the southern end of Fayetteville Street and across from the Martin Marietta Center for the Performing Arts and a block from the Raleigh Convention Center. The Omni Raleigh Hotel is anticipated to include 550 guest rooms and 55,000 square feet of meeting space, which will allow for larger events to take place downtown and support the growth of the Raleigh Convention Center expansion. The hotel will also feature several food and beverage outlets, a rooftop pool, a signature Mokara spa and a fitness center. The hotel is expected to open in 2027.
Image: Rendering of the OMNI Hotel Raleigh Credit: City of Raleigh and Visit Raleigh
Pop-Up Shops at Martin Street Wins Award The International Downtown Association (IDA) recognized Downtown Raleigh Alliance this month with a 2023 Downtown Achievement Award of Excellence in Economic Development for its resourceful approach to equitable economic development and retail activation with the Pop-Up Shops at Martin Street program. The program presented by Lenovo is a pop-up retail incubator program for Minority- and Women-owned businesses in Downtown Raleigh. Pop-Up Shops also welcomes two new Minorityand Women-owned businesses who entered the retail incubator space in October 2023. Needle & Thread Co. and Sarah Rosa Glickman Art (SRG Art) have set up shop in 17 East Martin Street for one year, offering a distinct but complementary product mix that includes clothing and accessories as well as prints and hand-painted art.
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
Image: Pop-Up Shops at Martin Street
13
DOWNTOWN DEMOGRAPHICS1
11,000+ Resident Population
44,000+ Employees Within 1 Mile of the State Capitol
31.7
Median Age
DOWNTOWN POPULATION GROWTH [2000-2028]
95K
Average Household Income
71.1%
Bachelor’s Degree or Higher
40%
DOWNTOWN POPULATION BY AGE
Of population between ages 20-34
ESRI, DRA
1
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
14
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Glenwoo d
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ABOUT DOWNTOWN RALEIGH ALLIANCE (DRA)
Glenwood
Ave
DRA has a mission of advancing the vitality of Downtown Raleigh for everyone. DRA facilitates this mission through five goals:
W Peace St
St
N Salisb
E Edenton St
Ne w Bern Ave
W Morgan St
E Morgan St
Moore Square District
Fayetteville Street District
W Lenoir St
E Lenoir St
W South St
CONTACT FOR QUESTIONS: Gabriel Schumacher Research Manager Downtown Raleigh Alliance 919.821.6981 // gabrielschumacher@downtownraleigh.org
er Martin Luth vd King Jr Bl
ilmington St
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Da w so n
database, project management, communication, financial stewardship, and planning.
S East St
S Salisbury St
Warehouse District
W Cabarrus St
N East St
N Dawson S t
W Edenton St
and improve DRA’s internal orga5 Elevate nization and processes through improved
For additional information and resources visit: downtownraleigh.org/do-business
Capital District
St
and maintain a sense of safety and 4 Improve security in downtown through our Ambassador program, Social Services and work with RPD; and,
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Hillsborough
N Boundary St
Garner R
Make downtown an engaging place to live, work, and visit through safe activations that appeal to a wide variety of stakeholders;
M
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Glenwood South District
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to make downtown a place for 2 Advocate everyone that reflects evolving needs and interests of the community and lessons learned from the recent past;
E Peace St
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research, marketing & promotions;
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N Person St
downtown economy through 1 Improve recruitment, pop-ups, financial support,
Seaboard + Person Street District
DOWNTOWN BOUNDARY AND DISTRICT MAP LEGEND Downtown Boundary Downtown Municipal Service District (MSD)
DOWNTOWN RALEIGH Q3 2023 MARKET REPORT
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Photo by Patrick Maxwell