RALEIGH, NC – Pacific Elm Properties and Gale Force Sports & Entertainment today announced plans for the Raleigh Sports and Entertainment District, a new $1 billion mixed-use development surrounding the arena that is home to the Carolina Hurricanes and NC State basketball teams. The redevelopment of the 80-acre site just off Interstate 40 and adjacent to Carter-Finley Stadium will create new opportunities for year-round shopping, dining and entertainment, as well as unique outdoor areas for sports tailgating and programming. The tenants and outdoor spaces will be curated to serve both Hurricanes and NC State fans, providing new ways to gather before sporting events while respecting the traditional tailgating experience they have come to love.
“Working with the Centennial Authority, we are committed to providing new amenities for our fans and creating an experience that will draw more people to the arena and stadium area and encourage them to visit early, dine and even stay on-site. This development is the next step in building the nation’s premier sports and entertainment district and ensuring this area remains a regional economic engine for decades to come,” said Brian Falk, CEO of Hurricanes Holdings LLC.
Phase 1 of the development will include more than 200,000 square feet of entertainment and lifestyle retail, 150,000 square feet of office space, a 150-room hotel and more than 500 apartments. Additional phases will expand this diverse use over the expected 15-year development lifespan. Entertainment uses will be clustered closest to the existing arena and stadium, while residential and office uses will be concentrated closer to Edwards Mill Road along key access points for ease of travel.
