BUILDING A CONNECTED & COLLABORATIVE DOWNTOWN 2017
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DOWNTOWN RALEIGH ALLIANCE
LETTER FROM DRA PRESIDENT & CEO
THE STATE OF DOWNTOWN RALEIGH 2017: BUILDING A CONNECTED AND COLLABORATIVE DOWNTOWN A famous newspaper publisher named Benjamin Franklin once wrote that “an investment in knowledge pays the best interest.” As a former publisher myself and now Interim President and CEO of the Downtown Raleigh Alliance, I could not agree more. Investment and knowledge are key words for downtown Raleigh these days. Downtown is currently in the midst of a $1.75 billion pipeline of investment, which includes 3,672 new residential units, more than 1,000 new hotel rooms, and 346,000 square feet of new retail space. Additionally, this community’s investment in a knowledgeable and talented workforce is driving over 1.5 million square feet of new office space, which will add thousands of workers to downtown. As we add more people, retail continues to grow with more than 16 new stores opening in the past year alone. The public sector is also making major investments in this downtown with over $200 million in projects including an upcoming renovation to Moore Square and an $88 million multi-modal center with Raleigh Union Station. In 2016, this community also took major strides towards a more connected and sustainable future by approving both a Bike Share system and the Wake Transit Plan, which will bring Bus Rapid Transit, commuter rail and enhanced bus service to connect downtown with communities throughout the county and region. And near and dear to my heart, the city continues to make great progress on Dix Park, which will be our 308acre destination park and a key to Raleigh’s future as a world class city. In my 17 years in Raleigh and downtown, I have personally witnessed an extraordinary revitalization. In 2000, when I started at The News & Observer, downtown’s population was barely 3,000 residents, most of whom lived along its periphery. Today, though, downtown is home to over 8,000 residents with more coming all the time. As our report shows, this growth and investment show no signs of abating. We continue to attract award winning restaurants, cuttingedge companies, and creative people. Not to mention 3.2 million visitors to our attractions this past year.
ORAGE QUARLES III Downtown Raleigh Alliance, Interim President & CEO
This year’s State of Downtown report aims to provide more knowledge on the many investments being made in this downtown now and in the future. Each chapter provides a detailed look at all of the interrelated aspects of downtown that reinforce each other and make downtown a vibrant and exciting place. We provide both industry-specific data collected by others, as well as original analysis and data from our staff here at DRA on retail, population, density, future projections, and many other areas. Furthermore, this report benchmarks downtown Raleigh to peer central business districts and regional trends, as a way of showing our tremendous success, as well as opportunities for improvement and further growth. This report is a major, multi-month effort led by Bill King, Senior Director of Planning and Development; designed by Stacey Simeone, Marketing and Communications Director; and aided by project team member Tyler Breazeale, Research Analyst. Lastly, at DRA we strive to be an excellent resource for our community and our real estate and economic development partners. Please contact us if you have any questions or comments about how DRA can help you invest or expand your footprint in downtown. We hope this report provides you knowledge on how investment of all kinds in downtown Raleigh pays off and will continue to do so for many years to come.
04 | INTRODUCTION TO DOWNTOWN 14 | DEVELOPMENT & INVESTMENT 24 | FUTURE PLANNING & PUBLIC INVESTMENT 30 | LIVING 40 | OFFICE, INNOVATION, EMPLOYMENT & TALENT 52 | CONNECTIVITY & SUSTAINABILITY 60 | SHOPPING 66 | DINING & NIGHTLIFE 70 | ARTS , CULTURE & TOURISM
Seaboard/ Person Street District
Glenwood South District
Capital District
Moore Square District
Warehouse District Fayetteville Street District
1-mile radius
Downtown
MSD boundaries
FAST FACTS HOTEL ROOMS: 1,247*
SQUARE FEET OF PRIVATE OFFICE SPACE: 7.2 million square feet
HOTEL OCCUPANCY: 71.2% PERCENTAGE OF RESIDENTS WITH AVERAGE DAILY ROOM RATE: $146.23
BACHELOR’S DEGREE OR HIGHER: 46%
RETAILERS: 104
ENROLLMENT IN RALEIGH UNIVERSITIES: 40,186
RESTAURANTS: 141 HOUSING UNITS: 5,733 ARTS & CULTURAL INSTITUTIONS: 42 AVERAGE RENT: $1,265 VISITORS TO TOP ATTRACTIONS: 3.2 million
POPULATION WITHIN ONE MILE: 16,500
VISITORS TO OUTDOOR FESTIVALS: 1.1
AVERAGE WALK SCORE: 90
million ACRES OF PARKS NEAR DOWNTOWN: TOTAL NUMBER OF EMPLOYEES:
447**
45,000+ JAMES BEARD NOMINATIONS SINCE OFFICE OCCUPANCY: 88.6%
*Includes Residence Inn opening mid-2017 **Includes 308-acre Dix Park still in progress
2010: 10
MAJOR DOWNTOWN EVENTS + FESTIVALS
© Tierney Farrell © Carolyn Scott
INTRODUCTION TO DOWNTOWN
Downtown Raleigh is in the midst of historic growth. Since 2005, downtown has seen over $3 billion in development completed, which has added new residences, convention space, offices, retail, entertainment venues, hotels, and restaurants. This once-sleepy downtown has been transformed into a vibrant center of activity. The future is even brighter for downtown with growth poised to add thousands of new residents, workers, visitors, stores, businesses, parks, and infrastructure. In 2016, downtown’s rapid growth continued in every asset class and the pipeline remains full of exciting projects that will continue to make this one of the fastest growing downtowns in the country. Downtown is also home to a thriving creative culture with artists, musicians, innovative tech companies, award-winning chefs, and cutting-edge makers all sharing and creating in downtown Raleigh.
PROJECTED IMPACT OF RECENT AND PLANNED DEVELOPMENT RESIDENTS
3,672 residential units
5,500 new residents
OFFICE SPACE
1.5 million square feet
6,000+ new office workers
RETAIL SPACE
346,000+ square feet
100+ stores and restaurants
HOTELS ROOMS
1,000+ new rooms
365,000+ more overnight stays per year INTRODUCTION TO DOWNTOWN | 5
© Flyboy Photography
MORE DEVELOPMENT
MORE EMPLOYEES
$1.75 BILLION+ DEVELOPMENT PIPELINE
1.5 MILLION SQUARE FEET OF NEW OFFICE SPACE
• • • •
• 1 00,000 square feet of co-working space • 77 employees per acre, densest office market in Triangle
$544 million recently delivered $382 million under construction $823 million planned $200 million in public investment
MORE VISITORS 3.2 MILLION VISITORS TO ATTRACTIONS • 1.1 million attendees at outdoor events • 150+ outdoor events 1,097 NEW HOTEL ROOMS UNDER CONSTRUCTION OR PLANNED • 1 1% increase in hotel room occupancy since 2013
MORE STREET-LEVEL ACTIVITY AND VIBRANCY $200 MILLION IN FOOD AND BEVERAGE SALES IN 2016 • 1 40+ restaurants and 31 new restaurants since start of 2016 • 10 James Beard nominations 31 NEW RETAILERS SINCE 2014 AND 84 NEW STREET LEVEL BUSINESSES SINCE START OF 2014
MORE RESIDENTS 3,672 NEW RESIDENTIAL UNITS RECENTLY DELIVERED, UNDER CONSTRUCTION, OR PLANNED • 1,803 units delivered • 564 units under construction • 1,305 units planned
8,000+ RESIDENTS IN DOWNTOWN • 147% growth since 2000 • Will exceed 10,000 in next three years
MORE VALUE
MORE CONNECTIVITY AND GREEN SPACE 57 MILES OF NEW MASS TRANSIT, $88 MILLION MULTI-MODAL CENTER, BIKE SHARE •2 0 miles of Bus Rapid Transit and 37 miles of commuter rail, plus enhanced bus service • 30 stations and 300 bicycles in new bike share 344 ACRES OF NEW AND RENOVATED PARKS •D ix Park, Moore Square, Chavis Park, Devereux Meadows
31% INCREASE IN VALUE FOR DOWNTOWN PROPERTY SINCE 2008¹ 106% INCREASE IN LAND VALUE FOR DOWNTOWN SINCE 2008¹ ¹Wake County Tax Assessor’s Office
INTRODUCTION TO DOWNTOWN | 7
POPULATION | PERCENTAGE INCREASE SINCE 2000
POPULATION | SHARE BY DISTRICT
Downtown Raleigh’s population has grown by 147% since 2000 with the addition of over 3,500 residential units in the past 16 years in buildings like Park Devereux, PNC Plaza, The Hudson Condominiums, The Dawson, Hue Apartments, Palladium Plaza, West at North, 222 Glenwood, 712 Tucker, SkyHouse, The L, Elan City Center, The Edison, The Link, The Gramercy, and St. Mary’s Square.
Every district in downtown is adding units and population, including the Capital District, which has seen recent additions from Elan City Center, Blount Street Commons, and Peace Street Townes. Moore Square also gained a significant number of new units from SkyHouse, The Lincoln, and The Edison, while Glenwood South continues to add hundreds of units from The Link, The Gramercy, and Four25 Devon.
Warehouse Fayetteville Street
9%
17%
DOWNTOWN RALEIGH Capital 8%
Glenwood South
CITY OF RALEIGH
36% Moore Square 30%
STATE OF NC
0%
20%
40%
60%
80%
100%
120%
Source: U.S. Census
140%
160% Source: DRA
DENSITY | PEOPLE PER SQUARE MILE
INCOME | GROWTH
11% growth IN AVERAGE HOUSEHOLD INCOME FOR DOWNTOWN RESIDENTS BETWEEN THE AGES OF 25-54 FROM Downtown
City of Raleigh
Wake County
5,277/SM
3,078/SM
1,195/SM
Sources: U.S. Census, ESRI Business Analyst, City of Raleigh, Wake County
2016-2021.¹ ¹U.S. Census
POPULATION | GROWTH EXPECTED TO CONTINUE IN YEARS TO COME
Downtown Raleigh’s current population is an estimated 8,200 residents. Within one mile of downtown’s center point, the current population is an estimated 16,500. Downtown’s population is projected to be over 11,000 residents by 2022. Also by 2022, 19,640 residents will reside within one mile of downtown’s center with opportunity for even more growth if the present rate of development continues.
CBD
20,000 18,000
Within 1 mile
16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 2000
2010
2014
2017
2022 (Projected)
Source: U.S. Census, ESRI Business Analyst
AGE | A YOUNG DOWNTOWN 35.4% of downtown residents are between the ages of 25-44 compared to 28% for the Raleigh metropolitan area and 26% nationally. 30%
25%
20%
15%
10%
5%
0% Under 19
20-24
25-34 CBD
35-44 Raleigh MSA
45-54
55-64
65+
US
Source: U.S. Census, American Community Survey
INTRODUCTION TO DOWNTOWN | 9
© Tierney Farrell
© Flyboy Photography
© Flyboy Photography
© Flyboy Photography
© Carolyn Scott
© Stacey Simeone
MAJOR DOWNTOWN EVENTS + FESTIVALS
DOWNTOWN DISTRICTS Capital District The Capital District is the power center of North Carolina and home to some of the state’s biggest tourist attractions. With the State Capitol, Legislative Building, Governor’s Mansion, and 3.5 million square feet of government office space, many of the most important decisions in the state are made in this district. The Capital District is also home to the NC History Museum and NC Museum of Natural Sciences, which combined to attract over 1.3 million visitors last year, more than any other attractions in the state. With new apartments and townhomes opening on the northern edge of the district and more planned, this district will transform into a more vibrant district for downtown. • 276 new residential units delivered in past year • 1.5 million visitors • 9,000 employees
Fayetteville Street District Home to the civic spine of the city and state with the iconic Fayetteville Street, this district has something for everyone with skyscrapers of Class A office space and condos mixed with award winning restaurants, a major performing arts center, large outdoor event space and amphitheater, independent retailers, galleries, the convention center, and exciting nightlife. This district has also added unique boutiques and a wide array of restaurants over the past few years. • 44 dining establishments • 19 stores and boutiques • Home to the four tallest buildings in Raleigh and six of the top 10 overall
Moore Square District Moore Square is primed to change dramatically with major public investment helping stimulate large private development. The park will undergo a $12 million renovation beginning in summer 2017, while the nearby GoRaleigh Transit Center, the central hub for Raleigh’s bus system, is finishing a $9 million renovation. Meanwhile, new residential development such as SkyHouse, Edison, and The Lincoln help make this district one of the densest neighborhoods in Raleigh. The district is already a destination for retail and the arts as it’s home to the unique Historic City Market, along with Artspace—30,000 square foot historic building featuring 25 artist studios. There are plenty of entertainment options like Marbles Kids Museum and live music venues such as The Lincoln Theatre and Pour House Music Hall. • 13 new businesses opened in the past year • 777 units opened in 2015 and 2016 • Over $20 million in public investment in 2016-2017
Glenwood South District One of downtown’s signature streets anchors this eclectic mix of restaurants, art galleries, stores, nightlife, and residences. New restaurants blend in with established favorites, while the exploding population of young workers find plenty to do in the active bar scene, which includes the world record holding Raleigh Beer Garden. With over 600 units under construction or recently delivered and more on the way, Glenwood South will build on its existing residential base to become one of downtown’s most distinctive neighborhoods. • 1,600+ new residential units recently delivered, under construction, or planned • 30+ dining establishments • 30+ retailers
Seaboard/Person Street District (North End) Containing the commercial centers of Seaboard Station and Person Street Plaza, the northern end of downtown has a neighborhood feel with locally owned businesses such as bakeries, clothing boutiques, hardware and garden stores, and some of downtown’s best restaurants. This area is home to historic anchor institutions like William Peace University, as well as contemporary landmarks like the AIA Center for Architecture, and the new Holy Trinity Anglican Church. Nearby residential development like Blount Street Commons, Elan City Center Apartments, and Peace Street Townes are bringing more residents to this area and increase the demand for retail and services, along with better connectivity to the rest of downtown. • Over 15 retail stores and services • 10+ dining establishments
Warehouse District Characterized by its red brick warehouses, the Warehouse District has transformed into a vibrant mix of art museums, restaurants, destination retail, technology firms, and will soon add transit-oriented development to the mix with the addition of Raleigh Union Station and The Dillon, a mixed use tower and residential development. The Warehouse District is home to great restaurants, galleries, and entertainment venues and has seen the addition of new destination retail, where retailers make their products and sell them on site. • Over 250,000 square feet of office space for cutting edge companies under construction or planned • Home to Citrix, HQ Raleigh, and new projects The Dillon and Morgan Street Food Hall • Over 10 restaurants, 10 stores, six art galleries with 62,000 square feet of retail space under construction
INTRODUCTION TO DOWNTOWN | 11
•P remier outdoor event location, now hosts thousands of visitors for Winterfest, concerts, movie series, farmers market, and other events
REVITALIZATION 2003: LIVABLE STREETS PLAN
2010: RED HAT AMPHITHEATER OPENS
Five transformative projects in five years
•P rovides a unique outdoor entertainment venue for the region with the downtown skyline as a backdrop
1. F ayetteville Street reopened to vehicular traffic 2. Build new Raleigh Convention Center 3. Pedestrian environment improvement 4. Upgrade business climate through regulatory reform 5. Expand downtown management and marketing
•M arbles Kids Museum opens, drawing over 600,000 visitors to downtown every year
•P rovides over 500,000 SF of exhibition and meeting space, along with 390 rooms in the heart of downtown
•R aleigh’s tallest building at 538 feet, RBC Plaza (now PNC Plaza) completed • 426 luxury condo units completed this year alone at 222 Glenwood, West at North, and RBC Plaza
© Carolyn Scott
2008: $630 MILLION IN COMPLETED PROJECTS
© Carolyn Scott
2008: RALEIGH CONVENTION CENTER AND MARRIOTT CITY CENTER OPEN
© Carolyn Scott
2007: $123 MILLION IN DEVELOPMENTS
2013: TECH COMPANIES MOVE DOWNTOWN • I preo relocated to the One City Plaza and brings over 250 jobs to downtown • Red Hat moves into Red Hat Tower after a $30 million renovation, bringing 900+ jobs
© Carolyn Scott
•T he Hudson, The Paramount and The Dawson give new residential options
© Carolyn Scott
© Carolyn Scott
2005: $60 MILLION IN DEVELOPMENT COMPLETED
•C ontemporary Art Museum opens anchoring the Warehouse District © Monica Slaney
•R ed Hat Tower completed—the $100 million project added over 350,000 SF of office space
© Tierney Farrell
2011: CAM RALEIGH OPENS
© Carolyn Scott
2004: TWO PROGRESS PLAZA (NOW RED HAT TOWER) OPENS
© Carolyn Scott
2009: CITY PLAZA OPENS
DOWNTOWN RALEIGH
2013: JUSTICE CENTER AND SECU TOWER OPEN •J ustice Center: $153 million investment and LEED Silver certified • SECU: $45 million, 12-story, 240,000 SF, LEED Gold certified
2014: CITRIX MOVES INTO THE WAREHOUSE DISTRICT •O ccupies a 170,000 SF modern office building in a restored warehouse, joining other tech companies to help make downtown a destination for innovative and cutting edge firms.
© Tierney Farrell
2015: UNION STATION BREAKS GROUND • $88 million multi-modal station in the Warehouse District, which will enhance downtown’s transit accessibility and connectivity to the rest of the region and stimulate transit-oriented development
WEST STATION ENTRY
2015: DOWNTOWN EXPERIENCE PLAN APPROVED
HOTEL ROOMS ADDED TO TRY AND MEET GROWING DEMAND
• 1 0-year plan that calls for more green space, retail, density, connectivity, and strategic development
Buoyed by a rising occupancy rate, more business travelers visiting downtown and a strong interest in expanding Raleigh’s successful convention center, more hotels will open
TIMELINE: LOOKING AHEAD 2017- : MORE OFFICE TOWERS AND COLLABORATIVE SPACE OPEN
•W ith 564 units under construction and more than 1,300 planned, downtown continues rapid growth
MORE GROUND-LEVEL SPACE ADDED TO HELP ACCOMMODATE GROWING RETAIL DEMAND
© Flyboy Photography
RESIDENTS FLOCK TO DOWNTOWN AS NEW DEVELOPMENTS OPEN
•T he 308-acre Dix Park gives downtown and Raleigh a signature, urban green space for a wide variety of recreational uses • 12-acre Devereux Meadows provides much needed green space near Glenwood South and the north side of downtown • Moore Square’s renovation provides a dynamic new park in the heart of downtown • 30 stations and 300 bicycles for Raleigh’s new Bike Share • Bus Rapid Transit, Commuter Rail and Enhanced Bus Service make downtown a center for mass transit
Given the rapid growth of downtown’s retail base, food and beverage sales breaking $200 million, and storefront vacancy continues to hover in the single digits, more ground level space will bring new stores and life to downtown’s streets
© Flyboy Photography
•C harter Square II, The Dillon, One Glenwood, The Edison, 400H, and City Centre will add 1.5 million SF of new office space to downtown • New collaborative space like The Nest and HQ Raleigh’s expansion will help more small companies incubate and grow in downtown
MORE GREEN SPACE AND TRANSPORTATION OPTIONS ADDED INCLUDING DIX PARK AND MASS TRANSIT
© Flyboy Photography
•O ver 1,800 units delivered in 2015 and 2016, adding a substantial number of new residents
© Tierney Farrell
2016: RESIDENTIAL GROWTH
•R esidence Inn by Marriott opens in 2017 with 175 rooms near the convention center • Over 900 rooms planned
© Flyboy Photography
• 240,000 SF, Class A office tower opens on Fayetteville Street, providing more high quality office space to downtown’s tight market
© Tierney Farrell
2015: CHARTER SQUARE OPENS
•2 00,000 SF of new ground-floor space added to downtown
INTRODUCTION TO DOWNTOWN | 13
MAJOR DOWNTOWN EVENTS + FESTIVALS
© Flyboy Photography
DEVELOPMENT & INVESTMENT
Downtown Raleigh is exploding with new construction and development. Over the past decade, downtown has seen over $3 billion in investment, which has resulted in more residents, workers, and visitors, along with more retail, restaurants, bars, and services.
$1.75 BILLION 5 MILLION SQUARE FEET of office space being added to downtown
1,097 HOTEL ROOMS planned or under construction
3,672 RESIDENTIAL UNITS recently completed, under construction, or planned
OF RECENTLY COMPLETED, UNDER
$544 M
CONSTRUCTION, OR PLANNED
$400 MILLION in ongoing construction
$200 MILLION in public investment
DEVELOPMENT DELIVERED in 2015 and 2016
DEVELOPMENT
INVESTMENTS IN DOWNTOWN ARE YIELDING BIG PROFITS FOR DEVELOPERS ACROSS ASSET CLASSES, INCLUDING OFFICE, RESIDENTIAL, AND HOTEL PROPERTIES. CHARTER SQUARE: 24% return on investment
SKYHOUSE RALEIGH: Sets record for multifamily property sale in the Triangle at $320,000 per unit $100
$300
$80
$250
Price (in millions)
Price (in millions)
$350
$200 $150 $100
$40
$20
$50 $0
$0 Investment
Source: TBJ
$60
Sold
Investment
Sold DEVELOPMENT & INVESTMENT | 15
© Flyboy Photography
MAJOR DOWNTOWN EVENTS + FESTIVALS HOTELS
DOWNTOWN: VALUABLE AND RISING Downtown is Raleigh’s most valuable area, as shown below, with downtown in the center of the map.
affordable housing or new infrastructure such as sidewalks, bike lanes, green space, and a bike share system for Raleigh.
The additional tax revenue generated by dense, downtown development can provide needed funds for new or additional government services from police and fire protection to
This tax revenue is generated on far less land than development outside the CBD.
Property Values Per Acre, 2016
ASSESSED VALUE PER ACRE Less than $250,000 $250,000-$500,000 $500,000-$1,000,000 $1,000,000-$2,000,000 $2,000,000-$3,000,000 $3,000,000-$4,000,000 $4,000,000-$5,000,000 $5,000,000-$7,500,000 $7,500,000-$10,000,000 More than $10,000,000
Source: City of Raleigh Planning Department, Ray Aull
This map depicts the total assessed value of each parcel on a per acre basis as of February, 2016. Source: Wake County Revenue Department By Ray Aull, City of Raleigh Planning
Density and height in downtown office towers pays off. On average, downtown skyscrapers pay $909,693 in property taxes per acre, per year, which is $904,001 more than Raleigh’s big box stores.
TAX REVENUE | AVERAGE PROPERTY TAX YIELD PER ACRE (CITY AND COUNTY) BY DEVELOPMENT TYPE Denser development in downtown results in more efficient use of land and much higher value per acre than low-rise commercial development. For example, a downtown office tower pays an average of $909,693 in property taxes per acre, per year, while a big box retailer in Raleigh pays an average of $5,692 per acre annually. Multifamily apartment buildings in downtown also yield more efficient tax revenue per acre, as they average $213,088 per acre in property taxes to the city and county governments versus just over $14,223 per acre for large apartment complexes throughout the rest of the city.
$1,050,000.00
$909,693
$900,000.00
$750,000.00
$600,000.00
$450,000.00 $213,088 $300,000.00
$2,204
$5,692
$14,223
Single Family Home
Big Box Store in Raleigh
Apartment Complexes Outside CBD
$54,614
$150,000.00
Source: Wake County Tax Assessor’s Office
Malls in Raleigh
Downtown Multifamily Apartment Building
Downtown Skyscraper
DEVELOPMENT & INVESTMENT | 17
© Carolyn Scott Photography
MAJOR DOWNTOWN EVENTS + FESTIVALS
Each of the five downtown districts will see significant private and public investment.
WHAT’S NEW | RECENTLY DELIVERED, UNDER CONSTRUCTION + PLANNED DEVELOPMENT BY DISTRICT
18%
29%
16%
19%
17%
Capital
Glenwood South
Moore Square
Fayetteville Street
Warehouse
$305,100,000
$494,100,000
$271,200,000
$318,600,000
$288,650,000
Over $1.75 billion in recently delivered, under construction, and planned development.
DOWNTOWN DEVELOPMENT PIPELINE | DEVELOPMENT SINCE THE START OF 2015 OFFICE
RESIDENTIAL
HOTEL
RETAIL
COMPLETED
427,318 SF*
1,803 Units
N/A
115,500 SF
UNDER CONSTRUCTION
210,000 SF
564 Units
175
104,000 SF
PLANNED
1,039,500 SF
1,305 Units
922
127,000 SF
TOTAL
1,676,818 SF
3,672 Units
1,097 Rooms
346,500 SF
Estimates based on announced plans * Includes renovated private office space
WHAT’S NEW | MORE THAN $200 MILLION IN CURRENT AND UPCOMING PUBLIC INVESTMENT PROJECT
DISTRICT
AMOUNT
UNION STATION
Warehouse
$87,950,000
GORALEIGH TRANSIT STATION RENOVATION
Moore Square
$9,900,000
CAPITAL BLVD/PEACE ST/WADE AVE EXCHANGE
Capital
$36,900,000
LENOIR AND SOUTH STREET CONVERSIONS
Fayetteville Street/Moore Square
$5,500,000
ALBEMARLE BUILDING RENOVATION
Capital
$42,000,000
MARKET AND EXCHANGE PLAZAS
Fayetteville Street
$2,000,000
MOORE SQUARE RENOVATION
Moore Square
$12,600,000
PEACE STREET STREETSCAPE
Glenwood South/Capital
$2,000,000
BLOUNT-PERSON ST CORRIDOR RENOVATION
Capital/Moore Square
$1,970,000
UNDER CONSTRUCTION
RECENTLY COMPLETED
PLANNED
TOTAL
$200,820,000
Note: Investment numbers are estimated costs and will likely change during the course of construction
DEVELOPMENT & INVESTMENT | 19
DOWNTOWN DEVELOPMENT | UNDER CONSTRUCTION, COMPLETED + PLANNED DEVELOPMENT BY DISTRICT
PROJECT NAME
INVESTMENT
STATUS
DETAILS
GLENWOOD SOUTH DISTRICT METROPOLITAN APARTMENTS
$52,500,000
Under Construction*
250 apartments
THE SAINT
Not Announced
Under Construction
17 townhomes
THE GRAMERCY
$41,000,000
Completed
203 apartments
N. WEST STREET DEVELOPMENT
$5,400,000
Completed
25,500 SF office adaptive reuse
RALEIGH BEER GARDEN
$2,000,000
Completed
8,670 SF
GOOGLE FIBER
$3,000,000
Completed
9,926 SF
CAROLINA ALE HOUSE
$7,500,000
Completed
37,000 SF
FOUR25 BOYLAN
$35,000,000
Completed
261 apartments
TAVERNA AGORA
$4,200,000
Completed
4,900 SF
LINK APARTMENTS
$36,500,000
Completed
204 apartments
ONE GLENWOOD
$100,000,000+
Planned
219,500 SF
SMOKEY HOLLOW
$100,000,000+
Planned
445 residential units, 52,000+ SF retail
PEACE STREET STREETSCAPE
$2,000,000
Planned
Infrastructure
BOYLAN FLATS
Not Announced
Planned
48 residential units
400H
Not Announced
Planned
125,000 SF office, 16,000 SF retail, 220 units
FAYETTEVILLE STREET DISTRICT RESIDENCE INN BY MARRIOTT
$20,000,000
Under Construction
175 hotel rooms
HQ RALEIGH EXPANSION AT CAPITAL CLUB
Not Announced
Under Construction
14,000 SF renovation/expansion
227 FAYETTEVILLE RENOVATION
$9,000,000
Completed
101,439 SF renovation
CHARTER SQUARE
$63,000,000
Completed
243,000 SF
DEATH & TAXES/BRIDGE CLUB RESTAURANT
$3,000,000
Completed
10,903 SF renovation
THE L
$17,000,000
Completed
83 units, 17,400 SF retail/office
EXCHANGE/MARKET PLAZAS RENOVATION
$2,000,000
Completed
Infrastructure
421 FAYETTEVILLE STREET
$11,000,000
Completed
Office renovation
107 FAYETTEVILLE STREET
Not Announced
Completed
Office renovation
CHARTER SQUARE II
Not Announced
Planned
157,000 SF office/retail, 247 units
HILTON GARDEN INN/HOMEWOOD SUITES
Not Announced
Planned
259 hotel rooms
COURTYARD MARRIOTT
Not Announced
Planned
192 hotel rooms
ELEMENT HOTEL (WILMINGTON AT LENOIR ST)
Not Announced
Planned
145 hotel rooms
EXPLORIS SCHOOL/GATEWAY CAMPUS
$20,000,000
Planned
140,000 SF office space plus instructional space
*Construction delayed due to fire.
CAPITAL DISTRICT PEACE STREET/CAPITAL BOULEVARD BRIDGE REALIGNMENT
$36,900,000
Under Construction
Infrastructure
BLOUNT STREET COMMONS
$13,100,000
Completed
46 townhomes
HOLY TRINITY ANGLICAN CHURCH
$7,500,000
Completed
Place of Worship
ELAN CITY CENTER
Not Announced
Completed
213 apartments
PEACE STREET TOWNES
$5,000,000
Completed
17 townhomes
CHRIST CHURCH ADDITION
$7,100,000
Completed
Expansion
ALBEMARLE BUILDING RENOVATION
$42,000,000
Completed
192,370 SF renovation
CITY CENTRE/301 HILLSBOROUGH STREET
$160,000,000
Planned
Mixed Use
MOORE SQUARE DISTRICT GORALEIGH TRANSIT CENTER RENOVATION
$9,900,000
Under Construction
Infrastructure
TRANSFER CO (STONE’S WAREHOUSE)
$19,000,000
Under Construction
42,000 SF food hall/retail, 15 residential units
HARGETT PLACE
Not Announced
Under Construction
19 townhomes
10ARROS
Not Announced
Under Construction
10 townhomes
EDISON LOFTS
$52,000,000
Completed
223 apartments, 16,000 SF retail
THE LINCOLN
$35,000,000
Completed
224 apartments
SKYHOUSE
$60,000,000
Completed
320 apartments
THE TEN AT SOUTH PERSON
$2,400,000
Completed
10 townhomes
BLOUNT AND PERSON STREET CORRIDOR IMPROVEMENTS
$1,970,000
Planned
Infrastructure
EDISON OFFICE
Not Announced
Planned
293,000 SF office, 10,000 SF retail
MOORE SQUARE RENOVATION
$12,600,000
Planned
Green space Renovation
WAREHOUSE DISTRICT THE DILLON
$150,000,000
Under Construction
210,000 SF office, 262 units, 40,000 SF retail
MORGAN STREET FOOD HALL
$2,000,000
Under Construction
22,000 SF renovation
UNION STATION
$87,950,000
Under Construction
43,000 SF multi-modal station
DR. PEPPER WAREHOUSE
$3,200,000
Completed
13,655 SF office adaptive reuse
HQ RALEIGH EXPANSION
Not Announced
Planned
25,000 SF expansion
TWO GLENWOOD
Not Announced
Planned
150 hotel rooms
611 WEST SOUTH
Not Announced
Planned
42 townhomes
WEST STREET TOWNHOMES
Not Announced
Planned
12 townhomes
522 S. HARRINGTON STREET
Not Announced
Planned
47 townhomes
STORAGE FACILITY (410 W. SOUTH ST.)
Not Announced
Planned
123,000 SF storage facility
522 W. LENOIR STREET
Not Announced
Planned
4,583 SF restaurant/retail space DEVELOPMENT & INVESTMENT | 21
Courtesy of The Gramercy
© Flyboy Aerial Photography
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© Flyboy Aerial Photography © Carolyn Scott
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MAJOR DOWNTOWN EVENTS + FESTIVALS
IMPRINT AWARD WINNERS 227 Fayetteville A $9 million renovation of a 126,000 square foot office building on Fayetteville Street. Dating from 1964, this renovation took a vacant building and updated all systems, common areas, and bathrooms to Class A standards. This renovation combines a modern interior with the historic exterior.
Blount Street Commons This residential development adds 16 brick townhomes, eight carriage homes, and 32 additional residences designed in a four-story condo configuration with two-story living stacked over an additional two-story living space. Located among historic homes in the Capital district homes range from 1,400-2,200 square feet.
Christ Church Addition An expansion of 9,100 square feet to one of Raleigh’s only National Historic Landmarks dating to 1848. This project included expanding the historic Parish Hall, common areas, meeting rooms, and commercial kitchen. The historic stone walls were also uncovered and the Gothic Revival style of the original church was maintained.
Dr. Pepper Warehouse The rehabilitation of the Dr. Pepper Bottling Plant balances historic preservation with the needs of today’s office tenants. The building required a complete renovation—including all new plumbing, electrical and mechanical systems, as well as the careful restoration of historic elements, wood floors, masonry walls, skylights, steel trusses, wood decking, original wood, steel and aluminum windows, and the original wood staircase. Additionally, Empire Properties collaborated with Personify, the tenant, to ensure that design and construction decisions were compatible with Personify’s work flow and office culture. The result fills in a gap in the urban grid and provides Raleigh with a glimpse of its past and future.
Elan City Center A five story mid-rise with 213 apartments, Elan City Center features amenities designed to create a sense of connectedness. From the grand rotunda entrance to the outdoor kitchen with large format seating and gathering areas, the space is designed to bring people together and inspire community. Elan also offers a 24-hour fitness center with panoramic views of the city, a resident lounge with gaming tables and a reading nook, and a pet spa and bark park for four-legged residents. The quarter-acre dog park is available to the neighboring public as well, to further add to the sense of place. Source: DRA
Link Apartments Located in the popular Glenwood South neighborhood, this 204-unit property includes a large clubroom, a cycle center with bike storage, a dog park, a saltwater pool, a yoga center, and outdoor fire pits in the courtyard. The apartments feature modern kitchens with granite countertops, large walk-in closets, energy-efficient lighting, and oversized windows. In keeping with Grubb Properties’ commitment to sustainability, the building is National Green Building Standard certified.
N. West Street Development A collaboration of The Lundy Group and August Construction Solutions, this project re-purposed historic warehouses along N. West Street to become unique office spaces and a new bar. The renovation painstakingly preserved wood frame ceilings, brick walls, a 1952 freight elevator, and a former railroad loading dock. New finishes were also added and a former cab dispatch office became The Cardinal Bar. Local artists added two murals, providing more character to a project that adds new life to these historic structures.
The Edison Lofts A six-story, 223 unit luxury residential building located immediately across the street from the Red Hat Tower and spanning a full city block. Edison also has 16,000 square feet of ground floor retail space that is leased to a jewelry store, two sundry stores, a pizza restaurant, a gelato dessert shop, and a coffee shop. Extra attention and investment was made in the exterior façade of the building, including metal panel finishes, an exterior courtyard building entrance, ground level walk-up townhome units, and articulating roofline canopies.
The Gramercy A seven-story urban mixed use building, located in the heart of Glenwood South, consisting of 203 apartments and 7,500 square feet of retail space for a total of approximately 324,000 square feet. The building consumes a full city block facing Glenwood Avenue. The entire retail space is leased to the Glenwood South Pharmacy & Market, a combination grocery store, drugstore and pharmacy which has been warmly welcomed as it services the entire downtown residential and commercial community.
DEVELOPMENT & INVESTMENT | 23
MAJOR DOWNTOWN EVENTS + FESTIVALS
© Flyboy Photography
FUTURE PLANNING & PUBLIC INVESTMENT
WITH SEVERAL THOUSAND NEW RESIDENTS AND OFFICE WORKERS coming to downtown over the next few years, the future is bright for downtown Raleigh. Downtown’s revitalization came together through a mixture of strategic public investments, pioneering developers, a vibrant arts and cultural scene, along with residents and business owners seeking to build a community in an urban core. The future of downtown looks to build off that base and create a true, vibrant center with its best years ahead.
Bus Rapid Transit, Commuter Rail, and Enhanced Bus Service approved in newly passed Wake County Transit Plan
1.75 B DEVELOPMENT pipeline
$200 MILLION+ in public investment
30 STATIONS and 300 bicycles in new Bike Share
10 $88 MILLION multi-modal Union Station opening in 2018
320 ACRES OF PARKS being added plus another 34 acres being renovated in downtown area
10-YEAR MASTER PLAN for downtown
FUTURE PLANNING & PUBLIC INVESTMENT | 25
© Flyboy Photography
MOORE SQUARE: Park and Transit Center Renovations: The Moore Square area is seeing significant public investment through the renovation of the historic square and the adjacent transit center. Moore Square itself will receive a $12.6 million renovation to reinvigorate one of Raleigh’s original historic squares dating to the city’s 1792 master plan. The GoRaleigh Transit Center, which is the primary hub for Raleigh’s bus system, is completing a $9.9 million renovation in spring 2017 to better meet short and long term service needs for the transit system and make the station safer, more attractive, and more welcoming for visitors.
Dix Park: With sweeping views of the downtown skyline, this 308-acre site south of downtown, which was a former state psychiatric hospital campus, is expected to become a destination park for residents and visitors to Raleigh. The city has begun the multi-year planning process for the park and already is holding events at the park.
Raleigh Bike Share: City leaders recently approved a bike share system consisting of 30 stations and 300 bicycles to provide more cycling options for residents, visitors, and students
when traveling throughout downtown and the city. This system helps connect riders with destinations within downtown and other parts of the city, such as the North Carolina Museum of Art, while improving public health, complementing the city’s public transportation network, and serving as an economic development tool for attracting more talent and companies to Raleigh.
OTHER MAJOR INVESTMENTS: Peace Street/Wade Avenue Bridge Replacements on Capital Boulevard: North Carolina Department of Transportation is replacing bridges on the north side of downtown and reconfiguring several major intersections to improve safety and connectivity into and out of downtown. This project is estimated to cost $36.9 million and be completed in 2019. Conversion of two-way streets: Several downtown streets are being converted from one-way to two-way traffic to improve downtown connectivity and the pedestrian experience. Lenoir and South streets will complete conversion in 2017 with Lane and Jones streets slated for conversion in the near future.
DOWNTOWN RALEIGH 2025 PLAN The City of Raleigh and the Downtown Raleigh Alliance partnered to create a 10-year plan for downtown Raleigh, which builds upon the successes downtown experienced in recent years and provides a new map for guiding growth and development in downtown, and addresses both opportunities and challenges facing downtown over the next decade. This plan seeks to improve park spaces, provide more transportation options, maintain authenticity and character, create a robust retail environment, improve affordable housing options, and establish stronger partnerships for downtown’s future. Many initiatives are well-underway with new parks, transit, development, retail, street-scaping and other projects moving along.
MOVE | MAKE WALKING, BIKING, AND TRANSIT THE PREFERRED WAYS TO GET IN AND AROUND DOWNTOWN The goal of “Move” is to enhance street character and uses along key streets to make walking, biking, and transit the preferred ways to get in and around downtown, while still accommodating automobile traffic. Actions include creating a complete pedestrian and bike network, enhancing transit, and reviewing parking and street grid enhancements.
RETAIL STRATEGY A major initiative of the Downtown Plan and DRA is a robust retail strategy. Improving the retail environment is one of the most important goals for the downtown community and the Downtown Plan highlights this need by building off of DRA’s existing retail efforts (outlined in the Shopping section). Actions include targeting authentic retailers, identifying a toolkit for retail, and improving wayfinding, art, pop-ups, and parklets.
BREATHE | IMPROVE, EXPAND, AND CONNECT DOWNTOWN’S GREEN SPACE The goal of “Breathe” is to transform downtown Raleigh into a center for innovative urban parks and appealing green spaces, as well as improve existing parks and expand park access to underserved areas of downtown. Actions include renovation of historic squares, addition of new parks at Dix and Devereux Meadows, extending the greenway and creating sustainable funding and governance structure for these parks.
STAY | REALIZE DOWNTOWN’S POTENTIAL AS A DYNAMIC REGIONAL CENTER ANCHORING TOURISM, ENTERTAINMENT, AND CULTURE
The goal of “Stay” is to provide a balance to downtown, where all are welcomed through strategic new growth and redevelopment. Actions include: •M aintaining downtown character and authenticity through historic preservation and adaptive reuse, public art, and high-quality new construction. • Ensuring downtown remains clean and hospitable. • Encourage the development of vacant and underbuilt sites to fill the entire downtown with active uses. • Create a robust retail environment in downtown to include a combination of local and destination retail. • Ensure downtown has a diversity of housing opportunities at different price points. • Partner with non-profits and Wake County to address homelessness and work to secure housing for the homeless population.
Source: City of Raleigh
FUTURE PLANNING & PUBLIC INVESTMENT | 27
© Flyboy Aerial Photography
RALEIGH UNION STATION
This $88 million project will transform downtown’s Warehouse District and the city, as a whole, by providing a top-notch transit facility to move thousands of riders and visitors each day. Not only will this project dramatically improve Raleigh’s transit facilities and help connect downtown to the rest of the city and region, but also could Source: City of Raleigh
stimulate transit-oriented development in the Warehouse District. The first phase of the project, the passenger rail facility, will be housed in a renovated Dillon Supply warehouse building located at 510 W. Martin Street with construction finishing in 2018.
CATALYTIC PROJECT AREAS | FIVE AREAS OF DOWNTOWN HAVE BEEN IDENTIFIED TO SERVE AS EXAMPLES OF HOW THE THEMES AND ACTIONS TRANSLATE INTO PHYSICAL FORM.
Gateway Center: On downtown’s southern edge, the opportunity exists to extend downtown several city blocks, facilitated by large parcels, consolidated ownership, and HALIFAX PARK city-owned property. Pe
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Glenwood Green: This project focuses on creating a new urban park at Devereux Meadows, an improved block pattern created by the Peace Street Bridge replacement, and a greenway connecting Glenwood South with areas to the north and south.
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Seaboard/Person Street: This project focuses on improving connectivity through renovations of Peace Street and streetscape improvements to Blount and Person streets with better bicycle and pedestrian access providing connections between urban neighborhoods like Oakwood and Glenwood South.
Moore Square: More than any other catalytic project area, this one focuses on large public investment in the park and transit center renovation, along with redevelopment of key, publicly owned parcels near the square to help revitalize this historic district.
Nash Square-Raleigh Union Station: A renovation of Nash Square, improved streetscaping and programming for the Hargett and Martin street corridors toward more pedestrian and retailoriented uses, and connecting Raleigh Union Station to the rest of downtown are all a part of this project area’s vision.
Source: City of Raleigh
FUTURE PLANNING & PUBLIC INVESTMENT | 29
MAJOR DOWNTOWN EVENTS + FESTIVALS
© Flyboy Aerial Photography
LIVING
Downtown boasts 3,672 residential units recently delivered, under construction, or planned with 1,803 units completed since the start of 2015, 564 units under construction, and 1,300+ units planned.
Over 8,200 residents in downtown and over 16,000 residents live within one mile of downtown’s center.
93% 829 NEW UNITS within two blocks of Moore Square
1,638 NEW UNITS within three blocks of Glenwood Avenue
INCREASE in the number of housing units in downtown
$$
2 MILLION+ SQUARE FEET of residential units delivered or under construction
$1.71
Average asking rent: $1,425/ month for Class A multifamily unit in downtown¹
Average asking rent: $1,265 for all apartment complexes within 2 miles of downtown¹
3% DROP in rental rates from early 2016, due to new supply
MEDIAN RENT per square foot per month for multifamily unit
$1.76
94%
92%
7%
MEDIAN RENT for Class A multifamily unit per square foot per month
¹Integra Realty Resources
OCCUPANCY RATE for all multifamily buildings in downtown
AVERAGE OCCUPANCY of new apartment buildings opened in 2015 + 2016 after stabilization
VACANCY RATE for Class A multifamily apartment buildings¹
LIVING | 31
© Flyboy Photography
MAJOR DOWNTOWN EVENTS + FESTIVALS
RESIDENTIAL | UNITS RECENTLY DELIVERED, UNDER CONSTRUCTION, OR PLANNED BY DISTRICT
Warehouse
Capital
10%
14%
Fayetteville Street
Moore Square
9%
22%
Glenwood South 45%
“Living downtown, I save 30 minutes to an hour a day with no commute so I gain time for work, for running, or anything else I want to do. But I mainly live downtown because it’s more fun. My wife and I walk to bars, restaurants, street festivals, and live shows that we just wouldn’t go to if we didn’t live nearby.” -DAVID MEEKER, DOWNTOWN RESIDENT
Source: DRA
HOTELS
RESIDENTIAL | MEDIAN RENT PER SQUARE FOOT AMONG PEER DOWNTOWNS Downtown Raleigh has a lower median apartment rent per square foot than several peer CBDs. Downtowns like Austin and Nashville, along with more established CBDs in the north, have median rents well above $2.00 per square foot. $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $
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LIVING | 33
ON THE MAP | NEW RESIDENTIAL PROJECTS UNDER CONSTRUCTION, RECENTLY DELIVERED, OR PLANNED
440
1
PERSON ST
70
CAPITAL BLVD
GLENWOOD AVE
440
40
401
SEABOARD/PERSON STREET DISTRICT
WILLIAM PEACE UNIVERSITY
RDU AIRPORT PEACE ST
BOUNDARY ST
12
8
6
PELL ST
11
JOHNSON ST
EUCLID ST
10 POLK ST
TUCKER ST
1 3
OAKWOOD AVE
NORTH ST
NORTH ST
2 JONES ST
BLOUNT ST
4
LANE ST
SALISBURY ST
7
MCDOWELL ST
DAWSON ST
LANE ST
JONES ST
CAMPBELL SCHOOL OF LAW
5
EDENTON ST 440
HILLSBOROUGH ST
440
NEW BERN AVE STATE CAPITOL BUILDING
9
NASH SQUARE
MOORE SQUARE BUS TERMINAL
WEST ST
SOUTH ST
WE
DUKE ENERGY CENTER FOR PERFORMING ARTS
STE R
LVD
440
40
70
T YS UR
ISB
NB
L SA
Under Construction
25
WILMINGTON ST
Planned
23 SAUNDERS ST
Complete
17 LENOIR ST
LEGEND Status
CABARRUS ST
SHAW UNIVERSITY
MARTIN LUTHER KING JR BLVD
CHAVIS WAY
20
RALEIGH CONVENTION CENTER
16 BLOODWORTH ST
14 DAVIE ST
24
HARGETT ST
MOORE SQUARE
15
21
18
EAST ST
MARTIN ST
PERSON ST
HARRINGTON ST
22
FUTURE SITE OF UNION STATION
FAYETTEVILLE ST
WEST ST
HARGETT ST
64
MORGAN ST
19
13
1-mile radius
Downtown
16,550+ residents live within one mile of the heart of downtown.
RESIDENTIAL UNITS | UNDER CONSTRUCTION, COMPLETED + PLANNED DEVELOPMENT BY DISTRICT
PROJECT
UNITS
INVESTMENT
TYPE
STATUS
GLENWOOD SOUTH DISTRICT 1
FOUR25 DEVON
261
$35 million
Mixed Use
Complete
2
LINK APARTMENTS
203
$30 million
Apartments
Complete
3
THE GRAMERCY
203
$30 million
Apartments/Retail
Complete
4
220 THE SAINT
17
$7 million
Apartments
Planned
5
400H
220
Not Announced
Mixed Use
Planned
6
BOYLAN FLATS
48
Not Announced
Apartments
Planned
7
THE METROPOLITAN
241
$52 million
Apartments/Retail
Under Construction*
8
SMOKEY HOLLOW
445
$100 million
Mixed Use
Planned
9
CITY CENTRE
242
$160 million
Mixed Use
Planned
CAPITAL DISTRICT 10
BLOUNT STREET COMMONS
46
$8 million
Townhomes
Complete
11
ELAN CITY CENTER
213
$30 million
Apartments
Complete
12
PEACE STREET TOWNES
17
$5 million
Townhomes
Complete
13
10 ARROS
10
Not Announced
Townhomes
Under Construction
MOORE SQUARE DISTRICT 14
EDISON LOFTS
223
$52 million
Apartments/Retail
Complete
15
SKYHOUSE RALEIGH
320
$60 million
Apartments/Retail
Complete
16
THE LINCOLN
224
$35 million
Apartments
Complete
17
THE TEN AT SOUTH PERSON
10
$2.4 million
Townhomes
Complete
18
HARGETT PLACE
19
Not Announced
Townhomes
Under Construction
19
STONE’S WAREHOUSE/ TRANSFER CO.
16
$19 million
Apartments/Retail
Planned
FAYETTEVILLE STREET DISTRICT 20
THE L
83
$17 million
Apartments/Retail
Complete
21
CHARTER SQUARE II
247
Not Announced
Mixed Use
Planned
WAREHOUSE DISTRICT 22
THE DILLON
262
$150 million
Mixed Use
Under Construction
23
WEST + LENOIR TOWNHOMES
12
Not Announced
Townhomes
Under Construction
24
522 SOUTH HARRINGTON
47
Not Announced
Mixed Use
Planned
25
611 WEST SOUTH
42
Not Announced
Residential
Planned
TOTAL
3,671
*Construction delayed due to fire.
LIVING | 35
DOWNTOWN BUILDING BOOM | HOUSING AND POPULATION GROWTH Downtown Raleigh already has doubled the number of housing units since 2000 and is poised to triple the number of units by 2020, if the current pipeline of residential projects is built out. Presently, downtown has an estimated 5,700+ units and will have approximately 7,600 units within the next five years. 12,000 10,000 8,000 6,000 4,000 2,000
2000
Housing Units
2010
2015
2017
2022
Population
RENT | DOWNTOWN MULTIFAMILY AVERAGE RENT 2015-2017 Average rent declined 3% from first quarter 2016-first quarter 2017 due to new supply • $1,325: Average rent for downtown • $1,425: Average rent for Class A multifamily units downtown
$1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200
Downtown Class A MSD
Average Rent 2015
Greater Downtown Class A
Average Rent 2016
Greater Downtown Class A/B/C
Greater Downtown Class B/C
Average Rent 2017 LIVING | 37
© Flyboy Photography
MAJOR DOWNTOWN EVENTS + FESTIVALS
RENT AND VACANCY RATES Occupancy remains high despite 1,803 new units in two years
• 94% occupancy rate for all apartments in downtown • 93.5% occupancy rate for all multifamily buildings within two miles of downtown • 92.9% occupancy rate for Class A multifamily within downtown MULTI-FAMILY APARTMENT VACANCY 8% 6% 4% 2% 0% Downtown MSD Class A
Greater Downtown Class A
Greater Downtown Class A/B/C
Greater Downtown B/C
Triangle Average
*Note: “Greater Downtown” refers to apartments within 1 mile of downtown. Source: Intregra Realty Resources, Colliers (for regional average)
NEED FOR AFFORDABLE OPTIONS • Only 2.9% vacancy for Class B/C multifamily buildings in downtown • 16% rent growth over past two years for Class B/C buildings Low vacancy and rising rent indicate a strong demand for affordable options in and near downtown. With little existing supply in downtown built before 2000 and a rapidly increasing population in the city and region, most of the older apartments that may decline in value due to new supply will not likely be in the CBD.
PEER CBD NEW HOUSING UNITS | RECENT, UNDER CONSTRUCTION, OR PLANNED Downtown Raleigh is also among other rapidly growing downtowns in residential units delivered, already under construction or planned.
12,000
10,000
8,000
6,000
4,000
2,000
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Sources: City of Austin, Nashville Downtown Partnership, Richmond Times Dispatch, Downtown Memphis Commission, Charlotte Center City Partners, Central Atlanta Progress, Upstate Business Journal, Downtown Phoenix Inc, Pittsburgh Downtown Partnership, Minneapolis Star Tribune, US Census.
PEER CBD HOUSING GROWTH (BY %) | RECENT, UNDER CONSTRUCTION, OR PLANNED Downtowns across the U.S. are seeing major booms in housing construction in their CBDs with downtown Raleigh keeping pace.
140% 120% 100% 80% 60% 40% 20% 0%
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Sources: City of Austin, Nashville Downtown Partnership, Richmond Times Dispatch, Downtown Memphis Commission, Charlotte Center City Partners, Midtown Atlanta Alliance, Upstate Business Journal, Downtown Phoenix Inc, Pittsburgh Downtown Partnership, Minneapolis Star Tribune, US Census.
LIVING | 39
© Flyboy Photograhy
MAJOR DOWNTOWN EVENTS + FESTIVALS
OFFICE, INNOVATION, EMPLOYMENT & TALENT
Downtown Raleigh is attracting new companies, tech incubators, Class A office projects, ultra-fast internet service, and is home to an increasingly talented workforce.
OFFICE MARKET Downtown Raleigh’s office market is booming as new supply is built to respond to very low vacancy rates and strong interest in companies moving into downtown over the past few years.
7 m+ SQUARE FEET 400,000+ SQUARE FEET of new or renovated Class A office space on Fayetteville Street at Charter Square, One City Plaza, and 227 Fayetteville
100,000 SQUARE FEET IN CO-WORKING SPACE including expansions at HQ Raleigh and Industrious, along with The Nest and an upcoming new co-working space from Regus
OF PRIVATELYOWNED OFFICE SPACE AND OVER 5.7
88.6%
MILLION SQUARE FEET OF
1,500,000+ SQUARE FEET OF CLASS A space planned/under construction
OCCUPANCY RATE for office space¹
DENSEST OFFICE MARKET in Triangle with more office space and employees per acre than any other submarket
GOVERNMENT OFFICE SPACE
FLOW CHART | TALENTED WORKFORCE LEADS TO STRONG NEED FOR OFFICE SPACE IN RALEIGH
Educated and Talented Workforce ¹JLL
New Companies Starting and Locating in Raleigh
Increasing Demand for New Office Space OFFICE, INNOVATION, EMPLOYMENT & TALENT | 41
“The downtown Raleigh market has transformed substantially over the past 10 years, and we believe that the downtown market will not only continue to grow, but will begin to grow at a faster pace. The city’s infrastructure and urban planning are designed for an 18-hour city, and we believe that downtown Raleigh is in the early stages of that transformation.” - RYAN BLAIR, HERITAGE PROPERTIES, DEVELOPER OF ONE GLENWOOD
© Flyboy Photograhy
© Flyboy Photograhy
NEW AND UPCOMING OFFICE PROJECTS | EXAMPLES OF SOME RECENT AND FUTURE OFFICE DEVELOPMENTS
Charter Square II
The Dillon
•R enovation of office building in heart of Fayetteville Street • 101,000 square feet of Class A office space • Completed in 2016
• 157,000 square feet office/retail • $100 million+ • Class A office space with ground floor retail • 22 stories • 247 apartment units
• 210,000 square feet Class A office space • 40,000 square feet of retail and 260+ apartment units • $150 million • Tower built within footprint of existing warehouse • Delivery 2018
The Edison
HQ Raleigh expansion
One Glenwood
• 293,000 square feet • 10,000 square feet of retail • 20 stories
•2 5,000 square foot expansion of HQ Raleigh footprint in Warehouse District • C ompliments 14,000 SF expansion at Capital Club building • T otal of 60,000 SF in incubator space after expansions
•2 19,000 square feet with 14,500 square feet of retail space • 10 stories • Located between Glenwood South and Warehouse District • Construction planned to begin in 2017
© Tierney Farrell
227 Fayetteville
CLASS A AND OVERALL AVERAGE OFFICE RENT PER SQUARE FOOT Downtown Raleigh has a competitively priced CBD with high enough rates to encourage new office development, but lower rates than several peer downtowns on the east coast and in the southern U.S. Class A Rate Only
Overall Rate
San Francisco Washington DC Boston Austin Houston Philadelphia Charlotte Atlanta Raleigh Nashville Orlando Richmond Columbia $0.00
$10.00
$20.00
$30.00
$40.00
$60.00
$50.00
$70.00
$80.00
Sources: Collier’s, JLL
CLASS A AND OVERALL AVERAGE RENT PER SQUARE FOOT Strong and increasing demand from the technology and innovation sector keeps Class A rental rates higher in downtown Raleigh relative to many other submarkets in the Triangle, while new supply has kept rates from rising rapidly in recent years. Class A Rate Only
Overall Rate
$35 $30 $25 $20 $15 $10 $5
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OFFICE, INNOVATION, EMPLOYMENT & TALENT | 43
© Flyboy Photograhy
COMPARED TO THE U.S. WORKFORCE AS A WHOLE, THE RALEIGH METROPOLITAN AREA HAS:
79%
higher share of employees in computer and mathematical occupations
30%
higher share of employees in architecture and engineering occupations
259%
higher share of software and app developers
232%
higher share of civil engineers
EMPLOYMENT | MORE EMPLOYEES PER ACRE THAN ANY OTHER OFFICE SUBMARKET IN THE TRIANGLE
77
employees per acre: more than any other office submarket in the Triangle
800+
businesses located downtown
19%
growth in employees in the past seven years
45,000+ employees
OFFICE, INNOVATION, EMPLOYMENT & TALENT | 45
© Flyboy Photograhy
2015-2030 PROJECTED EMPLOYMENT GROWTH Downtown is home to over 45,000 employees across all sectors and is projected to add 11,500 office and service employees between 2015 and 2030, according to estimates from HR&A and CAMPO. With potential new investments that make downtown even more attractive, such as mass transit, downtown’s employment growth could exceed these projections.
DOWNTOWN WORKERS | LARGEST EMPLOYERS
EMPLOYER
STATE OF NORTH CAROLINA DUKE ENERGY WAKE COUNTY GOVERNMENT
60,000
11,500
50,000
CITY OF RALEIGH RED HAT, INC.
40,000
CITRIX
30,000
45,000
20,000
PNC BANK MCCLATCHY/NEWS AND OBSERVER
10,000
EMPIRE EATS/EMPIRE PROPERTIES
0 2015
2030 Growth
SHAW UNIVERSITY
DOWNTOWN COMPANIES | RECENT MOVES/EXPANSIONS IN DOWNTOWN CITRIX
CLOUDGENIX
HDR ENGINEERING
PHOTOFY
LOGMEIN
FILTEREASY
BITSIGHT
6FUSION
PENDO
HQ RALEIGH
SPECTRAFORCE/LEOFORCE
RMSOURCE
PERSONIFY
KIMLEY HORN
POLSINELLI
COHERA MEDICAL
BDO USA
INFUSION
INDUSTRIOUS
WALKME
MORNINGSTAR LAW
DISTIL NETWORK
Source: ESRI Business Analyst, DRA
EMPLOYMENT HUB | SCIENCE, TECHNOLOGY, ENGINEERING + MATH (STEM) HIGH IN REGION Raleigh had the second highest percent growth in tech jobs for any city in the US from 2010-2015 with 38% growth and was ranked by Forbes as #2 Hottest Spot for Tech Jobs.
#2
UP-AND-COMING CITY FOR TECH JOBS¹
#3
LIFE SCIENCE CLUSTER²
#5
U.S. CITY FOR BEST RETURNS ON VENTURE CAPITAL³
DOWNTOWN EMPLOYMENT BY SECTOR
#3
HIGHEST MEDIAN WAGE FOR STEM WORKERS⁴
#4
TOP TECH STARTUP CITY⁵
AVERAGE EMPLOYEES PER ACRE 80
3% 3% 3%
9%
70
4%
60
42%
4%
50
4% 6.1%
40
6.3% 9%
30
11.2%
20 10
Other Services
Misc.
Health Care
Source: U.S. Bureau of Labor Statistics “May 2014 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates” ¹Zip Recruiter ²JLL ³Pitchbook ⁴WalletHub ⁵Business Facilities
Ra le (c ig ity h )
Professional, Scientific & Tech Services
0 A re a
Utilities
Construction
RT P
Information
H ill s
Accommodation/ Food Services Retail
Admin, Support, Waste Management
N or th
Education
D ow Ra nto le wn ig h D ow D nto ur w ha n m
Government
Sources: ESRI Business Analyst, DDI, Research Triangle Park, U.S. Census Bureau: Center for Economic Studies
OFFICE, INNOVATION, EMPLOYMENT & TALENT | 47
© Flyboy Photograhy
“We love being headquartered in downtown Raleigh. Many FilterEasy employees either lived downtown or moved downtown once they were hired on at FilterEasy. The vibrant, always-something-happening culture meshes perfectly with who we are as an organization. We have reinvested our time and resources in so many other thriving downtown businesses and feel seamlessly connected to all of what’s happening in the heart of Raleigh. As a company, we utilize the Raleigh City Club, debate about the latest political activism event, stroll over to the Capitol lawn, and our “water cooler talk” always surrounds who tried which new, hot downtown restaurant.”THAD TARKINGTON, CO-FOUNDER AND CEO OF FILTEREASY
© Carolyn Scott
© Tierney Farrell
INCUBATORS + INNOVATION Downtown Raleigh is a center for collaboration, innovation, dense ecosystem of rapidly growing companies.
Expansions and Growth:
•A dditional co-working offices for growing startups recently opened include Industrious, which has already expanded, and The Nest.
•C itrix, Red Hat, and Ipreo added over 2,500 tech employees to downtown in the past five years with Citrix adding another 400 employees in the near future.
Infrastructure: • Google Fiber opened offices in downtown’s Glenwood South district.
•P endo, LogMeIn, WalkMe, Personify, BitSight, FilterEasy, Spectraforce are all in growth mode in downtown. •R aleigh is home to more than 550 startup companies, totaling 2,500+ jobs.¹
Co-Working Space: •H Q Raleigh is home to over 130 startups and is expanding by more than 40,000 square feet in two downtown locations.
•U ltra-fast internet service with Google Fiber and AT&T U-verse with Gigapower providing competitive advantage • I n the last six years, startups in Raleigh raised over $385 million in Venture Capital and Angel investment and generated economic activity of over $1.1 billion from IPOs and $9.2 billion in acquisitions.¹
•N umber of startups at HQ Raleigh has grown over 150% since 2012
START-UP SPOTLIGHT: FilterEasy •H as raised more than $4.2 million in venture financing
•O nline service for home shipments of HVAC air filters
•A nnual revenue has more than quadrupled
•M ore than doubled employee count in 2016 with expectations to nearly double again in 2017 to 75 employees.
•E xpanding in downtown Raleigh’s Fayetteville Street district
¹City of Raleigh Economic Development
OFFICE, INNOVATION, EMPLOYMENT & TALENT | 49
© Flyboy Photograhy
MAJOR DOWNTOWN EVENTS + FESTIVALS
TALENT One of the major reasons for downtown’s rising profile as a tech hub and new office development is its strong talent and employment base. Raleigh’s universities and colleges, along with other major research universities and higher education institutions in the region, help drive more jobs and companies to downtown.
North Carolina State University: • 4th in Best Overall Public University Value¹ •5 th in Computer Engineering Degrees Awarded² •9 th Among all U.S. Engineering College in Number of B.S. Degrees Awarded²
St. Augustine’s University: •R anked in Top 50 Historically Black Colleges and Universities3
Campbell Law School: •O pened Community Law Clinic in 2016 in downtown for free legal help for those referred by area nonprofits
Approximately 100,000 students attend universities in the Triangle, providing cutting edge research and a well-trained workforce. In addition to the strong academic institutions near downtown, the region boasts several other prestigious universities:
Meredith College: • 6th among South’s Best Regional Colleges3
University of North Carolina at Chapel Hill: •# 5 Top Public University in the nation3
Peace University: • #1 nationally for student internships3
Duke University: • #8 Overall Top University in the nation3
Shaw University: • Opened Innovation and Entrepreneurship Center in downtown Raleigh •F irst historically Black institution of higher education in the south and among the oldest in the nation
N.C. Central: •# 12 Top Historically Black Colleges and Universities3
¹Princeton Review ²American Association of Engineering Education ³U.S. News & World Report
Only the Triangle, Atlanta, Boston, NYC, Los Angeles, Washington D.C., and Chicago have three Tier-1 Research Universities in one metropolitan region.
HIGHER EDUCATION INSTITUTIONS (within three miles of downtown)
TOTAL ENROLLMENT
NORTH CAROLINA STATE UNIVERSITY
33,989
MEREDITH COLLEGE
1,949
SHAW UNIVERSITY
1,707
WILLIAM PEACE UNIVERSITY
1,076
SAINT AUGUSTINE’S UNIVERSITY
1,064
CAMPBELL UNIVERSITY SCHOOL OF LAW
426
NUMBER OF STEM GRADUATES AS A SHARE OF POPULATION (AGES 20-34) The Raleigh metropolitan statistical area (MSA) also has a much larger share of STEM graduates as a portion of its young adult population than the United States or any other region in the country. 40% 35%
Raleigh
30% 25% 20% 15%
U.S.
10% 5%
TOTAL
40,211
0% [ Source: Brookings Institute, Burning Glass ]
Downtown has a higher share of residents with bachelor and graduate degrees than the state and national proportions. 46% of downtown Raleigh residents 25 years and older have a bachelor’s degree or higher, compared to 28% of North Carolinians and 30% of Americans. Less than 9th Grade
120%
9-12th Grade/No Diploma
100% 80%
High School Diploma/GED
46.2%
29.2%
30.4%
Some College/No Degree Associate’s Degree
60%
Bachelors/Graduate Degrees
40% 20% 0% Downtown Raleigh ¹National Science Foundation
North Carolina
United States OFFICE, INNOVATION, EMPLOYMENT & TALENT | 51
© Flyboy Photography
CONNECTIVITY & SUSTAINABILITY
Downtown Raleigh continued to make major strides in 2016 as a center for connectivity and sustainability in the Triangle. Downtown is already the most walkable part of the region and is a transportation hub that moves thousands of residents, visitors, and employees each year.
Additional investments like Bike Share, a new multi-modal station, additional bike lanes, conversion of one-way streets, and newly approved transit enhancements all saw major progress in 2016. New buildings in downtown are receiving LEED certification as more environmentally friendly and energy efficient. More parks and greenspace in downtown are being planned or renovated, expanding options for recreation and relaxation. Plus, downtown is home to a growing local food and urban farm movement, which helps make downtown a more sustainable and healthier community.
$88 million multi-modal center, Raleigh Union Station, under construction in a former warehouse, opens 2018.
Bus Rapid Transit (BRT): 20 miles of BRT with downtown serving as a central hub
Commuter Rail Transit: 37 miles of service on existing tracks to connect downtown with Garner, Cary, Morrisville, RTP, and Durham
More Enhanced Local and Express Bus Service: Improve bus connections to other municipalities, and increase frequencies on high demand routes
30+ bus routes connecting downtown to the rest of the city and region through the GoRaleigh and GoTriangle systems
200,000 riders on The R-LINE, downtown’s free circulator service featuring hybrid buses that connects all downtown districts
Source: GoTriangle
CONNECTIVITY & SUSTAINABILITY | 53
94
NEBRASKA ILLINOIS
COLORADO KANSAS
INDIANA
OHIO WEST VIRGINIA
VIRGINIA
MISSOURI KENTUCKY
Highest walk score in downtown, making this the most walkable area in the region²
NORTH CAROLINA TENNESSEE OKLAHOMA
SOUTH CAROLINA
ARKANSAS GEORGIA ALABAMA
TEXAS
MISSISSIPPI LOUISIANA
FLORIDA
172 bike racks with room for 601 bicycles¹
Top Five Highest Amtrak Ridership in South. Passenger train service to other cities in the state, region, and country with passengers boarding and alighting topping cities like Denver, Dallas, Houston, Orlando, Tampa, Atlanta, Austin, Pittsburgh, Cleveland, and Miami.
Average Walk Score
Bike Share in development with 30 stations and 300 bicycles¹
Downtown Raleigh has the highest walk score in the region with a high score of 94 in the downtown core and an average of 90 in the downtown core, while other downtowns in the region experience similar walkability and access to a large number of amenities and transportation options. The city is continuing improvements in ADA compliant curb ramps and pedestrian signals throughout downtown.²
DOWNTOWN DURHAM High Walk Score: 94 Average: 88
DOWNTOWN RALEIGH High Walk Score: 94 Average: 90
DOWNTOWN CHAPEL HILL High Walk Score: 90 Average: 87
180 miles of greenway and on-road bike facilities throughout Raleigh¹
AVERAGE OF TRIANGLE CITIES
28 ¹City of Raleigh ²walkscore.com. Cites highest recorded walk score in each downtown and based on Walk Score’s criteria of walkability and access.
Downtown Raleigh App To help make finding parking even easier in downtown, DRA developed an app that directs users to the parking nearest to their destination. The Downtown Raleigh App also has real time information on the R-LINE circulator bus and allows stores and businesses to easily list their specials and promotions.
Driving and Parking
30,000+ parking spaces in downtown
10 major arterial streets connect downtown to the rest of Raleigh
$36.9 MILLION INVESTMENT by the North Carolina DOT to redesign and improve the northern gateway to downtown with the replacements of bridges and interchanges along Capital Boulevard at Peace Street and Wade Avenue
I-40 runs just south of downtown
Monthly parking is 36% below the U.S. national average for downtowns, according to a 2012 report1
CONVERSION TO TWO-WAY STREETS: Several streets in downtown are being converted from one-way to two-way traffic, which reduces confusion, increases pedestrian safety and improves visibility and access for storefront businesses. Lenoir and South Streets are under construction, while Jones and Lane Streets have been identified for future conversion
Flying
400 flights daily²
40 non-stop destinations, now including Paris, as well as London, San Francisco, Los Angeles, Miami, Atlanta, Chicago, New York, Seattle, Washington, and many other cities²
Located just 20 minutes from downtown and accessible via express bus²
10.4% growth in 2016 with 11 million passengers: Most Passengers Ever at Raleigh-Durham International Airport (RDU)²
¹Colliers International, Central Business District Parking Rate Survey, ²Raleigh-Durham Airport Authority
Lowest average airfare among large airports in North Carolina²
CONNECTIVITY & SUSTAINABILITY | 55
© Flyboy Photography
SUSTAINABILITY
SUSTAINABILITY Downtown Raleigh is becoming a leader in sustainability. In addition to walkability and transit, downtown boasts a substantial amount of greenspace, numerous energy efficiency initiatives, and a growing urban food system movement.
PARKS AND GREEN SPACE: Downtown Raleigh’s strong system of parks and green space will see enhancements with renovations and new parks in the near future. The downtown area’s park space includes historic squares, an expansive mall, recreation fields, and a greenway with a new destination park on the way.
320 acres
of new parkland being added in downtown area with Dix Park and Devereux Meadows
100+ acres
of public park space within one mile of downtown
10 parks
within one mile of downtown
120 miles
of greenway and 74 miles of bike lanes in Raleigh
The future of downtown’s green space is bright with projects already underway and more planned in the Downtown Plan: ix Park: The City of Raleigh purchased 308 acres from the D state of the former Dorothea Dix psychiatric hospital campus on the southern end of downtown, which will provide the city and downtown with a destination park with sweeping views of downtown’s skyline. World-renowned design consultants Michael Van Valkenburgh will oversee the multi-year master planning process now underway. Moore Square Renovation: A $12.6 million renovation of one of Raleigh’s original, historic squares, which will provide a world-class public space for downtown. Construction begins in 2017 and is expected to take a year. arket and Exchange Plazas Renovation: A $2 million M renovation of two plazas connecting Fayetteville and Wilmington Streets to provide small areas of rest in the bustle of downtown’s core with construction concluded in spring 2016. Devereux Meadows: A future 12-acre park planned for a flood basin on the northern end of downtown, which will provide much needed green space near the growing Glenwood South District. Chavis Park Renovation: Located just east of downtown, this 28-acre park, featuring a carousel, swimming pool, nature trail, and athletic field, will receive a $12.5 million renovation.
ON THE MAP | GREEN AND CIVIC SPACE NETWORK
HALIFAX COMMUNITY CENTER & PARK
FRED FLETCHER PARK
FUTURE DEVEREUX MEADOWS
MORDECAI HISTORIC PARK
RALEIGH CITY FARM
HALIFAX MALL
OAKWOOD CEMETERY
NC MUSEUM OF NATURAL SCIENCES NC MUSEUM OF HISTORY PULLEN PARK
NASH SQUARE
MARKET & EXCHANGE PLAZAS
MARBLES KIDS MUSEUM
CITY CEMETERY
MOORE SQUARE
CAM
DIX PARK
RED HAT AMPHITHEATER
LENOIR ST PARK
CITY PLAZA
DUKE ENERGY CENTER FOR THE PERFORMING ARTS
Green Space
Plaza
Greenway or On-street Bicycle Link
SOURCE: City of Raleigh
Campus
CHAVIS PARK
Museum or other Civic Building
Creek
CONNECTIVITY & SUSTAINABILITY | 57
© Carolyn Scott
© Stacey Simeone © Stuart Jones
© Flyboy Photography
© Stacey Simeone
© Flyboy Photography
ENERGY + FOOD SYSTEMS Energy
Raleigh Downtown Farmers Market
•L EED Certification: At least 11 new buildings in downtown are being or have recently been constructed to LEED standards, such as the Citrix building which received LEED Gold certification and Charter Square, which is LEED Platinum. These buildings are more environmentally friendly and energy efficient.
Each Wednesday from April-October, City Plaza hosts the Raleigh Downtown Farmers Market, featuring over 30 vendors selling fresh produce and locally made goods. An average of 3,000 people attend the market every week to take a break from work, enjoy the festive atmosphere, and support local farms and businesses.
•S olar: Raleigh is becoming a leader in solar panel installation and was recently ranked one of the top 20 solar cities in the country based on capacity and installation.1
Raleigh Food Corridor
•C harging Stations: Downtown Raleigh is a leader in electric vehicle infrastructure with 11 public charging stations located throughout downtown, which offsets CO2 emissions and reduces gasoline use.
Urban Food System Downtown Raleigh is home to an emerging local food and urban farm movement. Food security and access to fresh food is an important aspect of building a true livework-play community in downtown and helps residents remain healthy and connected to the land. In addition to public health benefits, local food systems and urban farms and gardens have economic impacts, which make downtown neighborhoods more attractive places to live. Downtown is home to several educational gardens at places like Marbles Kids Museum and Moore Square Magnet Middle School. Additionally, three farmers markets take place in downtown with several more nearby, providing access to fresh produce for downtown residents and workers. Numerous other efforts are underway to improve the local food system by providing fresh food to underprivileged populations and mapping edibles to teaching farm and garden education to residents.
This initiative attempts to build off the local food cluster emerging in a two-mile stretch along the east side of downtown. The goal is to engage the community and create a dialogue about building a dense food system in downtown, which can bring food security, economic development, and public health benefits to the downtown community. The Second Saturday event takes place in this corridor from April-November with pop-up markets, walks, and food-related demonstrations.
Raleigh City Farm The Raleigh City Farm is an urban farm start-up in downtown Raleigh and an anchor of downtown’s emerging local food movement. This communitysupported farm grows food and supports new urban farms, as part of improving access to fresh food and small-scale urban agriculture for downtown residents. Produce from this farm is purchased and used by local restaurants in downtown, as well as sold directly to neighbors and residents through a Community Supported Agriculture (CSA) farmshare, a farmers market and farm stand. Raleigh City Farm also helps rural farms access the downtown market by helping sell their products, thus, improving urban-rural food connections and access to even more fresh food. The farm has contributed to the revitalization of the nearby Person Street Plaza and surrounding neighborhood, which was named by USA Today as one of the “10 Best Up and Coming Neighborhoods around the U.S.”
1 Environment North Carolina, “Shining Cities: At the Forefront of America’s Solar Energy Revolution,” April 2014.
CONNECTIVITY & SUSTAINABILITY | 59
MAJOR DOWNTOWN EVENTS + FESTIVALS
© Carolyn Scott
SHOPPING
“
As a resident of downtown, I did not, for a second, consider opening Port of Raleigh anywhere else; I wanted to invest in a place that I love and believe in. I feel like people are excited to live, work, and play here because they know that just by doing either (or all three!) they’re contributing to the positive energy and growth of the neighborhood. We all know the potential and every day that a new resident moves in, and a new business opens, we get closer to that shared vision of a diversified, vibrant, and active downtown that more wholly meets the wants and needs of residents and visitors alike. –ANA MARIA MUNOZ, PORT OF RALEIGH
96% of stores in downtown Raleigh are locally owned.
31 28% Growth in downtown’s retail base since 2010, which is the largest growth in any storefront use for downtown
NEW STORES OPENED since the start of 2014, nearly all of which are independent, locally-owned retailers
$42 million in retail spending estimated to be captured by downtown retailers with future growth of $200+ million in potential retail spending generated by new downtown residents, workers, and visitors.¹
¹HR&A Advisors
6.5% 9 stores awarded retail up-fit grants from DRA in 2015 and 2016 with more coming
VACANCY RATE for leasable downtown retail space
Over 346,000 square feet of ground floor retail space of recently delivered, planned, or under construction
SHOPPING | 61
© Stacey Simeone
POP-UPS: With the help of DRA, downtown has hosted a series of successful pop-up stores including Flight (collaboration among two downtown retailers for creative gifts), Craft Habit (crafting supplies), Twisted Oak (collective of local artists), and an interactive visual art installation. These pop-ups have been used as innovative collaborations to help retailers experiment with new concepts, activate vacant storefronts and make downtown’s streets more vibrant and livelier. LM Restaurants has been a major partner and supporter in this effort.
EMERGING RETAIL CLUSTERS IN... Home Furnishings: Broad range of furnishings and design stores specializing in vintage, modern, antique and other styles such as Port of Raleigh, Father and Son, Retro Modern Furnishings, Deco Home, Emily & Co., Hunt & Gather, Union Camp Collective, and Finds.
Fashion: Raleigh Denim, Edge of Urge, The Art of Style, Feelgoodz, House of Swank, Revolver Boutique, Stitch-Holly Aiken, Devolve Moto, Flourish Market, Lumina Clothing, Quercus Studio, Gypsy Jule, Runologie, Reliable Jewelry, and House of Landor.
Everyday Needs: Raleigh Provisions, Oak City Market, Glenwood Pharmacy and Market, Unleashed: A Dog and Cat Store, Briggs Hardware, DGX Raleigh, CVS, and TAZ’s.
© Flyboy Photograhy
Local Gifts and Makers: Deco Raleigh, Ramble Supply Co., Videri Chocolate Factory, Moon and Lola, Holder Goods and Crafts, Oak City Roasters, Sorry State Records, Crude Bitters, and Sodas.
#3 BEST PLACE FOR BUSINESS AND CAREER (FORBES, 2016)
2010-2017 | PERCENTAGE OF NET GAIN IN BUSINESSES BY STOREFRONT CLASSIFICATION
30% 25%
28% 24%
20%
22%
21%
15% 10% 5% 0% Retail Source: DRA
Bars/ Nightclubs
Dining
Personal Services
The average downtown worker spends $135 per week on retail purchases (excluding online purchases and transportation costs).¹
FUTURE RETAIL DEMAND | GROWING NEED FOR MORE STORES As downtown continues to grow, demand for more retail will attract even more retailers. According to recent analysis by HR&A Advisors, once downtown’s current development pipeline is built out, downtown residents, office workers and visitors could provide $165 million in total future potential retail sales. An estimated $42 million
of that spending potential could be captured by downtown and support thousands of square feet of new retail. These projections demonstrate the priority to continue bringing new stores downtown and broaden the retail base to reduce sales leakage and meet the growing demand to provide more stores and services in the CBD.
Total future potential retail spending by downtown residents, visitors, office workers
Future spending estimated to be captured by downtown
RETAIL
$165 million
$42 million
GROCERY
$49 million
$20 million
Source: HR&A Advisors
¹ICSC Office-Worker Retail Spending in a Digital Age, 2012
SHOPPING | 63
© Flyboy Photograhy
PEDESTRIANS | ACTIVITY BY TIME OF DAY DRA and the City of Raleigh conduct periodic pedestrian counts, which are helpful for retail prospects to determine where to locate in downtown and how much visibility their location will have.
2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 7:30 AM
8:30 AM
9:30 AM
Fayetteville St: City Plaza
10:30 AM
11:30 AM
12:30 PM
2:30 PM
3:30 PM
4:30 PM
5:30 PM
Fayetteville St from Davie St to Martin St
Fayetteville St from Martin St to Hargett St Source: DRA and City of Raleigh, 2015
1:30 PM
6:30 PM
7:30 PM
8:30 PM
9:30 PM
10:30 PM
11:30 PM
12:30 AM
Fayetteville St from Hargett St to Morgan St
Wilmington St at Martin St (data ends at 5:30 pm)
LOCATION
FUTURE GROUND FLOOR RETAIL SPACE
400H
16,000 SF ground floor retail on Hillsborough St. near border of Warehouse District and Glenwood South
CHARTER SQUARE II
Ground floor of 22-story tower on Fayetteville Street. 10,000+ SF of ground floor retail
CITY CENTRE (301 HILLSBOROUGH ST.)
40,000+ SF of ground floor retail
THE DILLON
40,000+ SF in Warehouse District under construction. Delivers in 2018
THE EDISON LOFTS
16,000+ SF of retail space opened mid-2016. New tenants include DGX Raleigh, Raleigh Provisions, Reliable Jewelry, Sir Walter Coffee, and Amorino Gelato
ONE GLENWOOD
14,500 SF in Glenwood South
MORGAN STREET FOOD HALL
22,000+ SF of renovated warehouse to incubate small retailers inside a large hall, alongside small food vendors
RESIDENCE INN
6,800 SF ground floor retail at corner of South and Salisbury Streets delivers in mid-2017
TRANSFER CO. (STONE’S WAREHOUSE)
42,000 SF of renovated and expanded historic warehouse space for makers, food producers, vendors, and retailers
RETAIL | DRA RECRUITMENT AND RETENTION EFFORTS As part of its role as the primary retail recruiter for Raleigh’s MSD, the Downtown Raleigh Alliance undertakes a number of initiatives to maintain and improve our retail base.
Recruiting retail prospects: DRA identifies and connects with retail prospects and brokers to bring them to the downtown market. Our assistance includes helping identify locations, connecting with brokers and landlords, and providing resources for business planning, market data, tours, and guidance.
Collecting, maintaining and analyzing data related to retail: DRA provides client-specific recruitment materials, including data and analysis on specific markets or locations. DRA has a more data-driven approach, including storefront inventories, sales leakage, market share, pedestrian counts, surveys of retail sales traffic, and other useful data collection tools to help monitor the retail market and develop business plans for new retailers.
Shop Downtown Raleigh: This program helps promote downtown as a shopping destination through coordinated promotions and events, along with a stand-alone website devoted to downtown shopping. Downtown retailers also participate on a committee to strategize on new efforts and address common challenges.
Retail Up-fit Grant: In 2015, DRA introduced a grant for new retailers to aid with their interior up-fit costs as a way of getting new stores off to a faster start and helping with one of the largest early costs for new businesses. So far, DRA has awarded $39,000 in nine grants to new stores that have helped fill gaps in downtown’s retail mix, such as a pharmacy, pet store, and hardware store, and help build new clusters in downtown’s retail sector.
Pop-up retail: For the past two years, DRA has helped activate a vacant storefront with pop-up retailers. Pop-up retail helps activate storefronts and incubate new retail concepts for downtown.
Downtown Raleigh App: DRA unveiled its new app in February 2016, which includes parking information, along with store locations and advertising opportunities. This app makes downtown easier to navigate for shoppers, identifies the nearest parking for all destinations, and allows merchants to advertise deals and specials.
SHOPPING | 65
DINING & NIGHTLIFE
Photo Courtesy of Vidrio
Downtown Raleigh has become a major food destination regionally and nationally with over 140 dining establishments providing a broad range of cuisines and experiences.
Downtown Raleigh had 15 Gold, Silver, and Best in Class restaurants in 2016 named by The News and Observer, more than any other submarket of the Triangle.
OUTDOOR DINING | 75+ ESTABLISHMENTS FEATURE OUTDOOR DINING CONNECTING PEOPLE WITH THE STREET
Downtown is home to award winning restaurants and chefs including 10 James Beard Award nominations since 2010.
ASHLEY CHRISTENSEN 2014 Best Chef in Southeast Winner 2016 Outstanding Chef Semifinalist
SCOTT CRAWFORD 2016 Best Chef Southeast Semifinalist
CHEETIE KUMAR 2017 Best Chef Southeast Semifinalist
4-12 13-24 25-40 41-64 65-90 91-145
DEATH & TAXES 2016 Best New Restaurant Finalist
Photo credits: Ashley Christensen (by Johnny Autry); Scott Crawford (by Downtowner Magazine); Death & Taxes (by Flyboy Aerial Photography)
DINING & NIGHTLIFE | 67
Food and beverage sales top $200 million in 2016 for first time ever with 77% growth since 2009.
MOMENTUM | FOOD AND BEVERAGE SALES IN DOWNTOWN 2009-2016
GROWTH | FOOD AND BEVERAGE SALES SINCE 2013
All districts have seen major growth in food and beverage sales in the past four years with the Warehouse District and Glenwood South seeing the most growth, percentage-wise.
$200
$150
Dollars (in millions)
© Flyboy Photograhy
MAJOR DOWNTOWN EVENTS + FESTIVALS
50% 40%
$100
30% 20%
$50
10% 0% 2009 2010
2011
Source: Wake County Tax Assessor
2012
2013 2014 2015
2016
Glenwood South Fayetteville St
Moore Square
Warehouse
OPEN
75+
establishments feature outdoor dining connecting people with the street environment
25
restaurants opened in 2016 with 13 more already announced or open in 2017
50+
restaurants participated in DRA’s Downtown Raleigh Restaurant Week
“To cheer up my digits, I considered taking them out on the town. I could smudge them on a martini glass at Capital Club 16; snap them at C. Grace, a live jazz venue; or raise them high at Kings, a live music spot. But no matter what we did that evening, I would keep both thumbs up for Raleigh.” – ANDREA SACHS, WASHINGTON POST
NATIONAL RECOGNITION: •T he New York Times, Washington Post, Wall Street Journal, Garden and Gun, Huffington Post, and Southern Living all have brought national attention to downtown’s restaurant and nightlife scene recently. •B ida Manda, a well-regarded Laotian restaurant on Moore Square, was named Best Restaurant in North Carolina by Business Insider.
• I n 2015, Garden and Gun featured Bida Manda, Boulted Bread, Videri Chocolate Factory, and Standard Foods. •O ther downtown establishements like Videri Chocolate Factory, Standard Foods, Death & Taxes, Crawford and Son, The Pit, Boulted Bread, Bida Manda, Centro, Gravy, Lucettegrace, Bittersweet, and Standard Foods have all been featured in national media recently.
HOME TO A DIVERSE NIGHTLIFE: •C raft beer breweries, such as Clouds Brewing, Trophy Brewing Co, Brewery Bhavana, and Crank Arm Brewing and some of the best beer bars in the country like The Raleigh Times. •S ports bars like Tobacco Road, Carolina Ale House and The Raleigh Beer Garden, now the Guinness World Record holder for most beer brands and most varieties of beer on tap.
• Music venues Lincoln Theatre, Kings, Neptunes, and The Pour House Music Hall, which feature national and local acts. •D ive bars like Slim’s Downtown Distillery and Ruby Deluxe, and arcade bars like Boxcar Barcade, and Level Up. •C reative cocktail lounges like Foundation, Whiskey Kitchen, Fox’s Liquor Bar, C. Grace, Watts and Ward, Clockwork, Bittersweet, and The Green Light. DINING & NIGHTLIFE | 69
© Carolyn Scott
ARTS, CULTURE & TOURISM
Downtown Raleigh is a center of creativity, arts, museums, events, and a diverse range of experiences.
3.2 M
1.1 M
11%
150+
VISITORS to downtown’s top 12 attractions
ATTENDEES at outdoor events in downtown in 2016
INCREASE in hotel room occupancy since 2013
OUTDOOR EVENTS in downtown in 2016
208,755 ATTENDEES AT IBMA WORLD OF BLUEGRASS
36%
922
360 K
40+
INCREASE in visitors over past decade including 7% over past 3 years
NEW HOTEL ROOMS planned and 175 ROOMS opening in 2017
360,000 ATTENDEES at Raleigh Convention Center
ART GALLERIES, entertainment venues, and performance groups based in downtown
FESTIVAL IN FALL 2016, THE LARGEST EVENT IN RALEIGH’S HISTORY
TOP DOWNTOWN ATTRACTIONS IN 2016
VISITORS
NC MUSEUM OF NATURAL SCIENCES
902,721
MARBLES KIDS MUSEUM/WELLS FARGO IMAX® THEATRE
675,890
NC MUSEUM OF HISTORY
415,506
DUKE ENERGY CENTER FOR THE PERFORMING ARTS
370,000
RALEIGH CONVENTION CENTER
360,000
STATE CAPITOL
107,834
RED HAT AMPHITHEATER
123,650
ARTSPACE
96,480
NC LEGISLATIVE BUILDING
53,082
Note: Only counts permanent, year-round attractions. Festivals and events not included. SOURCE: Greater Raleigh Convention and Visitors Bureau
ARTS, CULTURE & TOURISM | 71
ON THE MAP | DOWNTOWN ATTRACTIONS + HOTELS E FRANKLIN ST
PACE ST
HALIFAX ST
SEMART DR
SEABOARD AVE
Hampton Inn
State Legislative Building NC Museum of Natural Sciences
WILMINGTON WILMING WILMIN NGTON ST
State Government Complex
Governor’s Mansion
NC Museum of History
Holiday Inn NC State Capitol
City Centre
Two Glenwood
Marbles Kids Museum
COR Museum
CAM Raleigh
Moore Square City Market
Hilton Garden/ Homewood Suites
Artspace
KI
ST
KINSEY ST
NS EY
Courtyard Marriott
Red Hat Amphitheater
Sheraton
Raleigh Convention Center
Marriott City Center
LEGEND Complete
Planned
Elementbranded Hotel Residence Inn
Duke Energy Center for the Performing Arts
IBMA WORLD OF BLUEGRASS The International Bluegrass Music Association (IBMA) has held their annual convention in downtown Raleigh for the past four years. The convention and accompanying music festival brought an estimated 208,755 people to downtown in 2016, a record for largest outdoor event in Raleigh’s history. The Greater Raleigh Convention and Visitors Bureau estimates the event in 2016 generated: • $10.8 million in direct visitor spending • $1.3 million in media value to downtown from NBC’s “Today” broadcast with Al Roker •9 2,000 attendees from outside Wake County
SOME OF DOWNTOWN’S LARGEST EVENTS IBMA WORLD OF BLUEGRASS CAPITAL CITY BIKEFEST “THE WORKS” 4TH OF JULY CELEBRATION FIRST FRIDAY (MONTHLY) SLR CHRISTMAS PARADE FIRST NIGHT RALEIGH HOPSCOTCH ARTSPLOSURE SPARKCON BREWGALOO AFRICAN AMERICAN CULTURAL FESTIVAL OF RALEIGH & WAKE COUNTY ST. PATRICK’S DAY PARADE
GROWTH IN DOWNTOWN TOURISM SINCE 2007
3,500,000 3,000,000 2,500,000
36%
2,000,000 1,500,000 1,000,000 500,000 0
2007
2008
2009
Source: Greater Raleigh Convention and Visitors Bureau
2010
2011
2012
2013
2014
2015
2016
ARTS, CULTURE & TOURISM | 73
RALEIGH CONVENTION CENTER
500,000 TOTAL SQUARE FEET
150,000 Square Foot Exhibit Hall 32,620 Square Foot Ballroom 32,600 Square Feet of Meeting Rooms
500 Kilowatt Solar Energy System, Comprised of 2,080 Panels, Producing More than 725,000 Kilowatt Hours of Electricity
NEW AND EXISTING HOTELS | Downtown has 1,072 rooms with 175 rooms opening in 2017 and 922 more rooms planned.
NEW AND PLANNED HOTELS
VISITORS
RESIDENCE INN (COMPLETED SPRING 2017)
175 ROOMS
CITY CENTRE
176 ROOMS
TWO GLENWOOD
150 ROOMS
HILTON GARDEN INN
259 ROOMS
ELEMENT-BRANDED HOTEL
145 ROOMS
COURTYARD MARRIOTT
192 ROOMS
Downtown Raleigh hotels consistently outperform county, state, and national averages, demonstrating a growing visitor base and increasing demand for hotels in Raleigh’s CBD.
2016 HOTEL MARKET PERFORMANCE 72%
$160
71%
$140
1,247
hotel rooms in downtown with new hotel in 2017
70% $120
69% 68%
$100
67% $80 66% $60
65% 64%
$40
63% $20
62%
HOTEL ROOM OCCUPANCY: 71.2%, up 11% over past three years
61%
$Downtown
Wake County
Average Daily Rate
North Carolina
Revenue Per Room
U.S.
Occupancy Rate
Note: Applies to four hotels: Marriott, Sheraton, Holiday Inn, and Hampton Inn, which comprise 95% (1,072 rooms) in downtown market.
GROWTH IN HOTEL PERFORMANCE SINCE 2013: DOWNTOWN RALEIGH AND WAKE COUNTY
$ $146.23
Average daily room rate, up 15% over 2013
40% 35% 30% 25% 20% 15% 10% 5% 0% Hotel Room Occupancy Downtown Raleigh
Average Daily Room Rate
Revenue Per Room
34%
growth in Revenue Per Room over 2013 to $104.09 per room
Wake County
Sources: STR Global and Greater Raleigh Convention and Visitors Bureau
ARTS, CULTURE & TOURISM | 75
© Armes Photography
ARTS: RALEIGH’S ARTISTIC HUB 20+ Art Galleries •A rts institutions include the Contemporary Art Museum (CAM), VAE, Artspace, Litmus Gallery & Studios, 311 Gallery, Lump Gallery, and Mahler Fine Art Gallery • 100,000+ attended festivals and celebrations of art including Artsplosure, First Friday, and SPARKcon •$ 143 million in economic activity from arts and cultural sector in Raleigh, supporting 5,699 full-time jobs and $109.3 million in household income¹
Raleigh Arts Plan A community cultural plan that outlines a shared vision for the future of Raleigh’s arts and culture. The plan’s goals include: promote an active arts and culture life throughout the community; expand youth arts participation; ensure equity, access, and inclusion in all cultural programming; support the work of Raleigh’s artists and arts and cultural organizations; enhance the vitality of Raleigh’s neighborhoods and districts through thoughtful placemaking; create a system of sustainable arts funding. More information can be found at www.raleighnc.gov/parks/ content/ParksRec/Articles/Projects/ArtsPlan.html.
First Friday Gallery Walk A staple of downtown for more than two decades now, over 15,000 people come downtown on the first Friday of each
month to sample downtown’s art galleries, museums, stores and alternative art studios, many of which stay open late for attendees.
Artsplosure Since its first festival in 1980, Artsplosure has produced numerous festivals and outdoor programs featuring thousands of established or emerging visual, performing, and interdisciplinary artists with the goals of bringing recognition and exposure to a wide range of artists and continuing to elevate the arts community of Raleigh.
CAM Raleigh (Contemporary Art Museum) Opened in a spectacular renovated warehouse space in 2011 and located in the Warehouse District, CAM exhibits works in emerging and new areas of art with the goal of stimulating creative thinking in the community. CAM shows works in a wide variety of mediums that both educate and challenge visitors.
SPARKcon Started as a grassroots initiative, SPARKcon is a three-day interdisciplinary festival of art, design, music, film, fashion, poetry, food, theatre, and ideas, which supports emerging artists and creative movements. The annual celebration has showcased the cultural richness of downtown since 2006.
¹Arts and Economic Prosperity IV: The Economic Impact of Nonprofit Arts and Culture Organizations and Their Audiences in the City of Raleigh, North Carolina, 2013
PERFORMING ARTS Red Hat Amphitheater Opened in 2010 and located in the heart of downtown, Red Hat Amphitheater stands out among outdoor venues in the region due to its stunning views of the downtown skyline and proximity to all the restaurants and nightlife in downtown Raleigh. The venue hosted more than 123,000 visitors last year at over 30 events between April and October, which included nationally known touring acts like Chance the Rapper, Alt-J, Erykah Badu, Ray LaMontagne, The 1975, and many others.
Duke Energy Center for the Performing Arts Anchoring the southern end of Fayetteville Street, the Duke Energy Center for the Performing Arts hosted 600 events in 2016 with over 370,000 attendees. Combining the historic Raleigh Memorial Auditorium with three modern venues, the center hosted everything from bluegrass and pop music to Broadway and ballet. This facility includes: • Meymandi Concert Hall: 81,000 square feet, 1,750 seats • Raleigh Memorial Auditorium: 88,000 square feet, 2,263 seats • Fletcher Opera Theater: 36,000 square feet, 600 seats • Kennedy Theater: Experimental Theater, 170 seats In 2016, the performing arts center completed $17.7 million in upgrades and renovations such as new lighting, rebuilt concessions area, safety systems, and new paint throughout the building.
North Carolina Symphony Founded in 1932, the North Carolina Symphony is a full time, professional orchestra with a reputation for innovative programming and collaborative projects. Based at Meymandi Hall at the Duke Energy Center for the Performing Arts, the NC Symphony performs 175 shows a year throughout the state and provides an extensive educational program to children all over North Carolina.
Carolina Ballet Carolina Ballet has staged over 80 world premiere ballets, toured internationally, and performs frequently at the Duke Energy Center for the Performing Arts. The company performs a broad array of ballet from newly commissioned works to traditional classics.
North Carolina Opera Dedicated to presenting high-level operatic performances to the Triangle, North Carolina Opera brings international level artists to downtown Raleigh through a wide-ranging repertoire from Mozart to Philip Glass.
North Carolina Theatre Based at the Duke Energy Center for the Performing Arts, the Theatre seeks to build community and interest in the arts through high-quality productions with both local and national talent. ARTS, CULTURE & TOURISM | 77
Š Tierney Farrell
HUB FOR MUSIC AND PERFORMING ARTS
Downtown boasts a wide range of music and performing arts venues from Duke Energy Center for the Performing Arts to Red Hat Amphitheater to smaller clubs like The Lincoln Theater, Pour House Music Hall, Kings, Slim’s, Deep South The Bar, and C. Grace. Further, Raleigh is home to a thriving and diverse music scene. From the funk of Boulevards to the twang of American Aquarium, Chatham County Line, and Tift Merritt to the heady psychedelic rock of Birds of Avalon and low-fi pop of The Love Language to the verses of rising hip-hop
artist King Mez, Raleigh is a fertile ground for emerging and established recording artists to both create and perform. Downtown Raleigh also hosts some of the premiere music festivals in the region. In addition to the massively successful and well-attended IBMA World of Bluegrass festival, Hopscotch Music Festival brings thousands of music fans downtown every year for three days to see over 140 bands, including experimental and underground artists, at venues across downtown with 40% of the performers at Hopscotch from the state of North Carolina.
AMERICAN AQUARIUM “Raleigh is one of the first things our fans think about when they think about the band. Every night, every show, we start off by saying "We're American Aquarium from Raleigh, North Carolina". I lived downtown for over 7 years and really enjoyed becoming a part of such a diverse community. Whether it’s the food, the bar scene, or the museums, there is always something to do. As someone who travels for a living, I have had the fortune of seeing every big city (and most of the small ones) this country has to offer, and I could not see myself living anywhere other than Raleigh.” – BJ BARHAM, AMERICAN AQUARIUM
BOULEVARDS “The thing that inspires me about downtown Raleigh is the pure growth. There are so many talented young people in Raleigh. It has come a long way since I grew up there all my life. It’s a cool and hip place to be with so many creative people. It’s a beautiful thing to see the growth of Raleigh. People of Raleigh are open to new and exciting things. Change is good, especially if it is in a positive way and impacting the growth of the city.” – BOULEVARDS
TIFT MERRITT “I grew up in Raleigh, near downtown—I grew up in a place that really had a true sense of place. It was a very singular feel. That was and that has always been palpable to me. It’s been something that I’ve tried very much to give to my work: I want my work to feel like a particular world that you’re stepping into, a particular place and time steeped in a feel of its own. I think I want my work to feel that way because I’ve experienced it firsthand, here in Raleigh.” – WALTER MAGAZINE, MARCH 2017
KING MEZ “Our music [in North Carolina] is laid back, it’s personal, and it’s based on our inner most thoughts. And what we feel in our soul.” – THE MSU SPOKESMAN, APRIL 9, 2013
Boulevards Photo Credit: Daniel Topete; Tift Merritt Photo Credit: Alexandria Valneti
ARTS, CULTURE & TOURISM | 79
DRA BOARD, STAFF & ACKNOWLEDGEMENTS
ACKNOWLEDGEMENTS
OFFICERS + EXECUTIVE COMMITTEE
BOARD OF DIRECTORS
Jon Wilson Chair Kimley-Horn and Associates, Inc.
Mary-Ann Baldwin (Ex-Officio) City of Raleigh
Andy Holland SunTrust Bank
Pam Blondin Deco Raleigh & Deco Home
Robby Lawson Downtown Resident, The Dawson Condominiums Williams Mullen
Sharon Moe Treasurer/Chair Elect North State Bank Jason Smith Immediate Past Chair 18 Seaboard Restaurant Neil Gray Secretary JDavis Joseph ‘Bo’ Dempster, Jr. Legal Counsel Poyner Spruill Tashni-Ann Dubroy At-Large Shaw University Sally Edwards At-Large Marbles Kids Museum Orage Quarles III (Ex-Officio) Interim President + CEO
Marty Clayton Duke Energy Adrienne Cole (Ex-Officio) Greater Raleigh Chamber of Commerce Leon Cox Sheraton Raleigh Hotel Courtney Crowder Crowder Consulting, LLC Robert Doreauk Regional Director - External Affairs, AT&T North Carolina Sue Glennon Hampton Inn & Suites Hotel at Glenwood South Cameron Gorse Downtown Resident, SkyHouse Raleigh Apartments Ruffin Hall (Ex-Officio) City of Raleigh
Chad T. Lefteris UNC Rex Healthcare J. Rich Leonard Campbell University School of Law D. O’Hara Macken Ipreo Joe Meir Blue Ridge Realty, Inc Sarah Powers City of Raleigh Arts Rebecca Quinn-Wolf PNC Gregg Sandreuter Hamilton Merritt Nate Spilker Citrix Caroline F. Welch ABC 11
Jim Hartmann (Ex-Officio) Wake County Tyler Helikson Happy + Hale
PROFESSIONAL STAFF
Tyler Breazeale Research Analyst Jean Carroll Events Coordinator Roxanne Coffey Office Manager Kimberley Jones Executive Assistant
Bill King Senior Director of Planning & Economic Development
Stacey Simeone Marketing & Communications Director
Orage Quarles III Interim President & CEO
Lyndie Simpson Finance Manager
Craig Reed Events Director
Danny Vivenzio Communications Manager
Americans for the Arts Avison Young Biz 3 Publicity & Management BJ Barham, American Aquarium Campbell Law School Capital Area Transit Authority Carolina Ballet CBRE Cheetie Kumar City of Raleigh: Planning & Development; Urban Design Center; Parks and Recreation; Public Works; Office of Sustainability; Office of Transportation Planning; Special Events Office Colliers International David Meeker Downtown Living Advocates Downtown Raleigh Alliance Ground floor inventory 2011, 2015 Downtowner Magazine Empire Properties FilterEasy The Gramercy Greater Raleigh Chamber of Commerce Greater Raleigh Convention and Visitors Bureau Grubb Properties HR&A Advisors HQ Raleigh Integra Realty Resources Integrated Postsecondary Education Data System Jamil Rashad, Boulevards JLL Julie Brackenbury, Greater Raleigh Convention and Visitors Bureau Loren Gold, Greater Raleigh Convention and Visitors Bureau Patrick Daly, Cohera Medical Port of Raleigh Raleigh City Farm Raleigh Convention Center Raleigh-Durham Airport Authority Sara Casella, Motormouth Media Sasaki Associates Shaw University Smith Travel Research St. Augustine’s University Triangle Business Journal U.S. Bureau of Labor Statistics, LED OnTheMap U.S. Census Bureau Visual Art Exchange Wake County: GIS, Revenue Department William Peace University Graphic Design: Stacey Simeone For errata visit: GoDowntownRaleigh.com
DOWNTOWN RALEIGH ALLIANCE MISSION The Downtown Raleigh Alliance is an award-winning nonprofit organization whose mission is to continue the revitalization of Raleigh’s downtown by enhancing its quality of life and contributing to its economic success. On a day-to-day basis, DRA provides seven core services that have a short-term and long-term impact on downtown:
1. SAFETY & HOSPITALITY AMBASSADORS 2. STRATEGIC BRANDING + COMMUNITY COMMUNICATIONS 3. EVENTS PRODUCTION 4. RETAIL ATTRACTION + MERCHANT PROMOTIONS 5. STRATEGIC PARTNERSHIPS + STAKEHOLDER ENGAGEMENT 6. STRATEGIC PLANNING 7. CONFLICT RESOLUTION
COVER PHOTO BY TRAVIS JACK, FLYBOY PHOTOGRAPHY
PRODUCED BY:
120 S WILMINGTON STREET, SUITE 103 • RALEIGH, NC 27601 • 919.832.1231 WWW.GODOWNTOWNRALEIGH.COM • INFO@DOWNTOWNRALEIGH.ORG