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5 Biggest Raleigh Developments to Watch in 2024

Raleigh’s Biggest Developments to Watch in 2024

Hi everyone, Marti Hampton here. Today, we’re diving into something super exciting – and that’s Raleigh’s transformation in 2024! This city, our City of Oaks, has been booming in recent years. Not only with new housing – but entire new subdivisions and neighborhoods. We’re going to dive into them. But first – if you haven’t yet, make sure you click that subscribe button, and if you’re looking to buy or sell in our area, click the link below in our description to get connected with one of our agents at the most trusted and experienced team in the Triangle.

So, let’s get rolling and explore the most thrilling developments coming our way!

#1 – North Hills Innovation District

First up is Raleigh’s game-changer. The North Hills Innovation District set for 2024. This is a massive $1 billion venture transforming the already booming North Hills neighborhood of Raleigh. Kane Realty is revitalizing Midtown with this 33-acre development – offering luxurious apartments, chic shopping spots, stylish offices, and even an open-air beer garden!

Take a peek at St. Albans Lofts, which will feature 396 apartments. Enjoy your morning coffee in a zen garden, then relax on the rooftop lounge under the stars.

Next up is Tributary, set beside tranquil Crabtree Creek. With 320 apartments, it epitomizes upscale living with stunning views.

Then there’s Tower 5, a 17-story skyscraper of futuristic office spaces, attracting ambitious businesses.

For shopping enthusiasts, the Pumphouse will be an enormous retail space with an outdoor beer garden, surrounded by quaint shops and cozy cafes. 

Post-COVID, safety is paramount here, with touchless entry, advanced air systems, and outdoor workspaces ensuring both safety and style.

#2 – Apple is still on the way!

By now, we’ve probably all heard that Apple is building a campus in Greater Raleigh – but after that announcement came in 2021, it’s been crickets ever since.

However, just a few days ago, traffic plans have been unveiled that show that Apple is now expecting to begin construction in 2026!

The campus will be a vast 281-acre site in RTP, next to Louis Stephens Drive and Little Drive.

Apple is creating a 41-acre campus with six buildings, providing 900,000 square feet of innovative space, including 700,000 square feet of office space. This is a boon for tech enthusiasts and a significant boost for our economy, expected to create at least 3,000 jobs in various roles.

Apple’s presence elevates RTP, positioning us alongside the nation’s top tech hubs.

With a development this size, you’d expect more traffic, right? But don’t fret! Apple and our city planners have been considering more sustainable ways to keep our streets and environment clean and efficient.

#3 is The Hub

Now, The Hub RTP is gearing up to be the biggest research park in the U.S., covering a whopping 220,000 square feet.

The Research Triangle Park has come a long way. It started as this quiet spot for safeguarding intellectual property, but now? It’s a buzzing neighborhood of research and development with over 375 companies and over 60,000 employees!

And The Hub will be the RTP’s cherry on top. Developed by the Research Triangle Foundation, The Hub is turning RTP into a vibrant, cultural, and commercial hotspot. It will be a 100-acre space where you can live, work, and play, all sandwiched between major highways.

2024 is going to be a big year for The Hub. Get ready for some groundbreaking projects like a state-of-the-art 350-room hotel, a super modern eight-story life science tower, and this cool place called The Horseshoe that blends office and retail spaces. Plus, we’re talking about the first housing units in RTP – a total game-changer!

The Horseshoe itself is going to be the highlight, offering this unique mix of office and retail space. It’s designed to bring in all kinds of tenants, from the newest startups to the big established corporations, creating a really dynamic business environment.

And the housing developments? For the first time, RTP will see residential spaces popping up. We’re expecting over 400 housing units, all with a mix of amenities. 

The life science tower is a nod to RTP’s commitment to advancing research and development. This is where companies specializing in life sciences will get top-notch facilities, boosting RTP’s role as a leader in this field.

Looking even further ahead, past 2024, The Hub RTP is planning a Phase 2 expansion. This means more office towers, more residential units – basically, bringing more life and business into the heart of RTP.

The economic impact? Huge. We’re talking job creation, new businesses, and lots of opportunities for local and international collaborations. These projects are set to boost economic growth, not just within RTP but across the entire Triangle region.

The Hub RTP is also playing a crucial role in filling the ‘doughnut hole’ in the center of the Triangle, creating a core space for working and living. It’s enhancing the area’s connectivity and appeal, making it an even better place for businesses and individuals.

#4 is The Spark

The Spark is this massive $1 billion project spreading over 109 acres, and it’s going to totally revolutionize Raleigh’s biotech scene.

So, what’s The Spark all about? It’s this incredible life science complex in Morrisville that will totally change the game in 2024.

Let’s dive into The Spark Life Science Complex. This place is huge – 109 acres of innovation and 1.5 million square feet dedicated to labs and biomanufacturing. We’re talking about a hotspot for scientific breakthroughs here, drawing in talent and businesses from all over the world.

And guess what? The financial backing for The Spark is just as impressive. Trinity Capital and Starwood Capital have poured in a whopping $1 billion. That’s how much faith they’ve got in this project and in Raleigh’s growing life science sector.

Plus the development will have a huge impact on Rolesville & The Triangle at large. The Spark’s going to be a magnet for economic growth, creating a wealth of jobs and pulling in all sorts of skills and talent. It’s perfect timing, too, because Morrisville’s been growing like crazy.

But that’s not all. Right across from The Spark is the Pathway Triangle. This one-million-square-foot lab and biomedical facility is going to work hand-in-hand with The Spark. Together, they’re going to make the Triangle area a national leader in biotech and life sciences.

Outside of just labs and offices, The Spark will feature restaurants, shops, and residential spaces. It’s a place where you can work, live, and relax, all in one spot.

Raleigh’s life science sector is already on the up and up, with over 500 companies. The Spark’s going to boost this even more, putting Raleigh on the map in the global life science scene.

And hey, they’re not just throwing up buildings. They’re upgrading infrastructure and accessibility, like extending McCrimmon Parkway and tweaking zoning regulations. Morrisville’s getting all geared up for this new era.

Exciting times ahead, folks!

#5 – Let’s Talk Downtown South

Envisioned by Kane Realty, Downtown South is an absolutely massive $2.2 billion plan – transforming a 140-acre site into a mixed-use haven. And there’s even talk of a new soccer stadium!

So, Downtown South is shaping up to be this stunning new development right on the southern edge of downtown Raleigh. They’re kicking things off in mid-2024 and the whole idea behind Downtown South is to make a place that’s got everything. Think of living spaces, shopping areas, offices, and places to have fun, all in one neighborhood. It’s about making a community that’s convenient and connected.

Plus, it’s right near some of our favorite spots, like Dorothea Dix Park.

The residential side of things is pretty awesome. They’re planning all sorts of homes to fit different lifestyles and budgets. And for the business folks, there’s going to be loads of retail and office spaces. It’s a great chance for businesses to grow and thrive.

And here’s a fun part. We’re expecting music venues and other cool spots to hang out and unwind. And about that stadium – the plans for it are on hold. But it is expected to hold 20,000 attendees and sports owner Steve Malik is hoping it will relocate the North Carolina FC and CArolina Courage to the stadium upon its completion.

The whole development is planning to break ground in mid-2024, so keep an eye out for updates.

Ok – One bonus here.

And I’m cheating a little bit since it’s outside of Raleigh — BUT. Everyone is excited that the city of Mebane has officially given a green light to our favorite gopher-run gas station – Bu-cee’s! Just a few days ago, Bu-cee’s got the go-ahead to build in Mebane after the Mebane City Council voted to approve a proposal from the popular chain.

If you don’t know already or maybe are out of the state, you may have never heard of this place – which is pretty much only located in the South and South East. The closest one to Raleigh now is in Florence, South Carolina, but it has 47 locations around Texas, Alabama, Georgia, Florida, Missouri, Kentucky, South Carolina and Tennessee. And the new Mebane station is expected to draw five million visitors a year!

I know it sounds crazy that a gas station could be this popular. But people love it for its in-store bakery, barbecue stations, beef jerky sections, merchandise, clean bathrooms and much more. A friend of mine described Buc-ees as what you get when you apply the concept of Texas to a convenience store.

And people around here are certainly excited for it. 

So these are just a few of the developments transforming Raleigh this year. There are plenty more residential developments featuring new subdivisions with single family homes, new townhome communities, new condo buildings. This town is BOOMING and if you’re looking to make a move here, we’ll help you find just the place. We’ve been doing the same for Triangle homebuyers and homesellers for over 30 years as the most experienced and trusted team in the area. So if you are looking to buy or sell here, just click the link in the description below, tell us what you need, and we’ll get you connected with one of our experienced agents. See you next week!

Fill out the form below to schedule a quick call with one of our agents and let them know what you’re looking for. We’ll find that perfect home for you!

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