Upcoming Developments on Raleigh’s Southern Edge: The Crane Tracker
TL/DR –
The southern edge of downtown Raleigh is witnessing major development, with at least 13 new developments planned, potentially bringing over 5,200 new residential units to the area. Major projects include ‘The Weld’ – a $700 million, 1,200-unit mixed-use development at the edge of Dix Park by Raleigh-based SLI Capital, and ‘Downtown South’ – a $2.2 billion sports and entertainment district with housing, office, retail and hotels by Developers Kane Realty and N.C. Courage owner Steve Malik. Shaw University also plans to leverage its 26.5 acres of downtown Raleigh real estate to ensure a sustainable future.
Raleigh’s Southern Edge Sees Major Growth
Raleigh’s southern edge is booming with projects from renowned firms like Kane Realty Corp., and Shaw University’s plan for taller buildings. 13 new developments are planned, potentially adding over 5,200 new residential units. However, this growth has sparked fears of gentrification, leading the city to create a plan for affordable housing.
Downtown South
Downtown South, a 140-acre mixed-use development, is planned east of South Saunders Street near Interstate 40. Developers Kane Realty and N.C. Courage owner Steve Malik aim to build a $2.2 billion sports and entertainment district with housing, office, retail, and hotels.
The Weld
The Weld is a 1,200-unit mixed-use development at the southern edge of Dix Park, developed by Raleigh-based SLI Capital and New York’s Mack Real Estate Group. Construction is expected to be completed by summer 2025.
Rockway Raleigh
Next to The Weld, John Kane and Merge Capital are building Rockway Raleigh, a 9.7-acre mixed-use development in connection with the Rocky Branch Trail Greenway. The project will include 335 apartments and is set to be completed by 2026.
Shaw University
Shaw University is leveraging its 26.5 acres of prime real estate in downtown Raleigh, planning to build structures as tall as 30 stories after a recent rezoning.
Mira
Mira Raleigh is a seven-story apartment complex being developed by Chicago-based Origin Investments and New York-based Spandrel Development Partners. The $87.4 million project will add 288 units and is expected to be completed by 2024.
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