Downtown Raleigh lies at the heart of the Triangle, the fastest growing metropolitan region in the Carolinas. For businesses, residents and visitors alike, downtown is the urban center of the region, an incredible place to live, work and play.
With a population of over 405,000, Raleigh is the second largest city in the Carolinas. It is also the fastest growing major city in the state, adding more than 10,000 residents annually. The rapidly expanding Raleigh metro area, with 1,235,000 residents, has more than doubled its population since 1970. Downtown Raleigh is comprised of 110 blocks, while the city of Raleigh covers 126 square miles.
The Downtown Raleigh office market is comprised of about six million square feet of commercial office space concentrated around the Fayetteville Street District. Roughly fifty-percent of the space is multi-tenant space. The office occupancy rate is one of the healthiest in the region, hovering over ninety percent.
There are approximately 5,000 downtown residents enjoying the convenience and excitement of an urban lifestyle. With residential options spanning from apartments to condominiums to townhomes to single family homes—there is something for everyone in the heart of the city center. Currently, there are 3,657 existing units in the downtown business improvement district plus approximately 950 units under construction and planned through 2013. There are 15,000 residents within a one mile radius and 85,000 residents within a three-mile radius of Downtown Raleigh. Residents living within a one mile of downtown generate an average household income of over $58,000 per year, 70.4% have some secondary education and 73.2% hold a professional job.
In 2011, 2.9 million people visited Downtown Raleigh for conventions, museums, the performing arts and special events.