Release Date: Wednesday, July 27th 2016
Downtown Raleigh Grocery Store Expected To Boost Downtown Development
RALEIGH, NC (July 27, 2016) – As a result of unprecedented growth, downtown Raleigh will now have a much anticipated grocery store with the announcement on Tuesday of a Harris Teeter locating at Seaboard Station. The news comes amidst a historic building boom in downtown of over $1 billion in development that is adding more residents, office workers, and visitors. The Downtown Raleigh Alliance’s Quarterly Economic Development Report details this growth, including new developments and business openings throughout downtown. Tuesday’s announcement of a grocery store only adds to downtown’s economic momentum.
“A grocery store helps continue downtown’s incredible growth into a dynamic urban core that allows residents to live and shop without having to leave the downtown area. This store will only help to further that growth and make downtown Raleigh one of the densest and fastest growing parts of the region,” says DRA Senior Director of Planning and Development, Bill King.
Findings in the Quarterly Economic Development Report show downtown Raleigh’s impressive growth. Six new street-level businesses opened in just the second quarter of this year, with additional 25 street-level businesses in the pipeline. Nearly $350 million in projects are under construction with $437 million in planning and over $360 million in development already delivered since the beginning of 2015.
More information, including additional data on market trends, population, demographics, development, and a look at future projections for downtown Raleigh is available in the State of Downtown Raleigh 2016 and the Economic Development Report – Second Quarter 2016.
About Downtown Raleigh Alliance (DRA):
DRA is an award-winning nonprofit organization whose mission is to continue the revitalization of Raleigh’s downtown. The Alliance enhances the quality of life and positively impacts the economic success of downtown through six core services: 1. Safety, Hospitality & Clean Ambassadors; 2. Strategic Branding & Community Communications; 3. Events Production; 4. Retail Attraction & Merchant Promotions; 5. Strategic Partnerships & Stakeholder Engagement; and 6. Strategic Planning. For more information about DRA, please visit www.YouRHere.com.