Raleigh Developer Plans $1B Project In Midtown
Raleigh developer Dewitt Carolinas announced a massive project that would extend the transformation of a major thoroughfare in the capitol's midtown.
Plans call for a development near Duke Raleigh Hospital that would encompass 40 acres of mixed use, including a convention center and a park that will tie into the greenway system. The value of the project is estimated at more than $1 billion and located just north of the new Wegmans.
"We are excited about this opportunity to be a part of Raleigh's continued growth and prosperity by introducing an inspired new community to the list of the region's growing accolades," said Todd Saieed, CEO and co-founder of Dewitt Carolinas, Inc., in a statement. "Midtown Exchange embodies our vision for a home grown, collaborative community that will be the gathering place for many generations to come."
Dewitt Carolinas began acquiring the property in 1999 and completed the land assemblage and acquisition in 2017, according to a company release, which added that the site would include:
- 790,000 square feet of Class A office space
- A convention center with rooftop dining and entertainment, featuring exceptional views of downtown Raleigh
- Over seven acres of greenspace with water features and park amenities that will tie into the city's existing greenway
- 125,000 square feet of retail and restaurant space
- 300 hotel rooms
- 1,275 apartments, condos and townhomes
- 300 senior living Units