state of downtown raleigh 2015

2015 | DOWNTOWN RALEIGH ALLIANCE

LETTER FROM DRA

PRESIDENT AND CEO

THE STATE OF DOWNTOWN 2015: THE RISE OF THE CREATIVE URBAN CENTER A critical mass of activity has positioned Raleigh’s downtown as a creative urban center that is anchoring the Triangle region.

• Downtown is adding 1,840 new residential units, which will attract over 3,000 residents

• Dynamic tech companies have made downtown their campus• Over 700,000 square feet of Class A office space, nearly 300 hotel rooms, new

greenspace, a sparkling new multi-modal station, and more than $500 million in new construction will be completed in 2015 or underway by 2016

• Hotel occupancy is up, and millions attend our attractions and festivals• Downtown’s retail base has grown by over 35% in five years• Downtown is now home to an award winning restaurant scene

This year’s State of Downtown report is nearly 50% longer with even more data on market trends, population, demographics and development, as well as peering into the future with projections and a summary of exciting upcoming projects and plans for downtown. Each chapter provides a detailed look at all of the interrelated aspects of downtown that reinforce each other and make downtown a vibrant and exciting place. We provide both previously-reported, industry-specific data collected by others, as well as original analysis and data from our staff here at DRA on retail, population, density and many other areas. Furthermore, this report benchmarks downtown Raleigh to peer central business districts and regional trends, as a way of showing our tremendous success, as well as opportunities for improvement and further growth. Given the extraordinary amount of exciting upcoming projects about to start in downtown, we also added a new chapter on future investments in downtown, as well as the Downtown 2025 Experience Plan, to help illustrate downtown’s rise in the coming years. This report is a major, multi-month effort led by Bill King, Manager of Planning and Development; designed by Stacey Simeone, Graphic Designer; and aided by other project team members Lacie Lindstaedt, Director of Communications, and Roxanne Coffey, Office Manager. Lastly, at DRA, we strive to be an excellent resource for our community and our real estate and economic development partners. Please contact me at [email protected] if you have any questions or comments about how DRA can help you invest or expand your footprint in downtown.

DAVID A. DIAZ | Downtown Raleigh Alliance, President and CEO

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INTRODUCTION TO DOWNTOWN

DEVELOPMENT + INVESTMENT

FUTURE PLANNING + INVESTMENT

LIVING

OFFICE + EMPLOYMENT

RETAIL

DINING + NIGHTLIFE

TOURISM

ARTS + CULTURE

CONNECTIVITY + SUSTAINABILITY

DRA IMPACT

1-mile Radius from the Center of Downtown Greater Downtown DRA Municipal Services District

Fayetteville Street District

Moore Square DistrictWarehouse

District

Capital District

Glenwood South

District

Seaboard/Person Street District

ARTS + CULTURE | 5

POPULATION DENSITY:

• 5,063 per square mile in downtown¹ • 2,977 per square mile in City of Raleigh as of 2013² • 1,197 per square mile for Wake County²

POPULATION AND HOUSING:

• Downtown population has increased 53% since 2000²• Raleigh has grown by 46% since 1990⁶• Greater downtown population: estimated 7,800¹‚²• Population within one mile of downtown: 14,964¹‚²• Vacancy rate for multi-family: 2.73%⁷• Average rent: $1,265⁷

RETAIL/RESTAURANTS IN DOWNTOWN:

• Stores: 80²• Restaurants: 129²• Storefront vacancy rate: 8.8%³• Over 35% growth in retail in last four years³

CULTURE/ENTERTAINMENT/HOTELS:

• 1,127 hotel rooms³• Hotel occupancy rate: 67.6% up 11.2% from 2013⁵• Visitors to downtown: 3.4 million¹⁰• Number of art galleries and entertainment venues in

downtown: 39

AGE:

• Average age of Raleigh resident: 30.1²• 40.5% of residents between the age of 25 and 44 in CBD⁹‚² • Median age is 29.1 for residents within 1 mile of downtown¹‚²

OFFICE/EMPLOYMENT/EDUCATION:

• Commercial office space: 5 million+ square feet• Class A occupancy: 90.8%⁴• Class A lease rate: $26.53 (Average of JLL, Cushman

Wakefield, Avison Young, DTZ Americas)• Overall office occupancy: 90.39%⁴• Employees in downtown: 50,000+⁸• Enrollment of higher education institutions (within 3 miles

of downtown): 40,078 (Based on information supplied by universities)

TRANSPORTATION, ENVIRONMENT AND SUSTAINABILITY:

• Number of parking spaces: 35,000⁶• On-street metered spaces: 1,200⁶• Parks in or near downtown: 6*• Acres of public park space within 1 mile: 105*• Miles of greenway in Raleigh: 110⁶• Bike racks in downtown: 135⁶

* Does not include planned space such as 308-acre Dorothea Dix property being purchased by City of Raleigh

DOWNTOWN DEMOGRAPHICS

#2 Most Educated Cities 2014 - WalletHub, September 2014

#7 America’s Smartest Cities - Forbes, November 2014

¹ESRI Projections ²US Census ³DRA ⁴Triangle Business Journal ⁵STR Global ⁶City of Raleigh ⁷Integra Realty ⁸Bureau of Labor Statistics ⁹STDBonline ¹⁰Greater Raleigh Convention and Visitors Bureau

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INTRODUCTION TO DOWNTOWN | 7

INTRODUCTION TO DOWNTOWN

• Downtown’s population has increased 53% since 2000 and is poised for an increase of nearly 40% with the new supply of apartments and condos being completed.

• 48% of downtown’s hotel rooms have been built since 2008 with strong demand for even more rooms, as the convention center, major events, and festivals continue to draw thousands of visitors to downtown. Hotel occupancy is up over 11% since 2013.

• In addition to the convention center and the Duke Energy Performing Arts Center, new events and festivals, such as the IBMA World of Bluegrass, museums, and attractions, bring over 3.5 million visitors to downtown each year.

• Downtown’s retail base has grown by over 35% in the past four years, helping create one of the largest concentrations of local, independent retailers in the region.

• Downtown has become a foodie destination with some of the best restaurants in the Triangle and is home to the 2014 James Beard Award winner for the southeast region, Ashley Christensen, who owns four restaurants in downtown with more to open in 2015.

• In 2014, downtown added 37 new storefront businesses, ranging from running shoes, leather goods, clothing, and craft beer bottle shops to every day services for medical care, exercise gyms, and haircuts.

By every measure, downtown Raleigh is exploding with growth. Since 2005, downtown has seen over $2.5 billion in development completed, which has added new residences, convention space, offices, retailers, entertainment venues, hotels, and restaurants.

Google Fiber and AT&T U-Verse with Gigapower will add ultra-high speed Internet to downtown and the Triangle and give our rising technology sector a competitive advantage.

• Food and beverage tax revenue is up 10.42% for downtown establishments compared to 2013, with Moore Square District alone increasing by over 15%.

• Over the past five years, downtown has established itself as a magnet for technology companies with the addition of Red Hat, Ipreo, and Citrix, in addition to numerous other innovative firms, bringing nearly 2,000 jobs with an average salary of $75,000 to downtown.

• First Friday draws over 15,000 people into downtown every month for a celebration of art, music, and culture.

• Downtown generates 7.3% of the property tax base for Raleigh, despite being only .05% of the city’s developable land and 30% of the CBD is tax-exempt.

• Public investment in downtown has yielded a more than 2 to 1 return on investment with over $2.5 billion in completed and under-construction projects.

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Downtown Raleigh has over $730,000,000 in current and planned new investments, including over 2,000 residential units and 700,000 square feet of Class A office space.

While the recent past has been good for downtown Raleigh, the present and future are poised to be even better, helping make downtown into a world-class center of vibrancy and activity.

• $385 million in current and recently completed construction in downtown, adding over 2 million square feet of new space.

• At the end of 2014, downtown Raleigh had over 1,800 residential units under construction with hundreds more planned for the near future resulting in an increase of over 60% more residential units for downtown. These new apartments and condos will add density to downtown, making this a center of activity for the Triangle.

• Increasingly, companies are looking to locate in vibrant centers with access to talent, amenities and larger business networks. In response to more and more employers entering downtown, office space construction is also rising as downtown adds at least 700,000 square feet in new or renovated office space over the next two years with nearly 350,000 square feet in office space opening in 2015 on Fayetteville Street alone and two more Class A office towers beginning construction in 2015.

• Over $100 million in major public investments begin construction in 2015 and 2016 with the new Union Station breaking ground, followed by renovations of both the Moore Square Transit Center and Moore Square itself, which will improve park space and transit in downtown. Additionally, construction will begin on the Blount and Person Street corridor projects, as well as the redesign of the Market and Exchange Plazas.

• 300+ acres of parks and greenspace will be enhanced in greater downtown when the Dorothea Dix Park becomes the City of Raleigh’s property, along with the city’s future Devereux Meadows project near Glenwood South and renovations of downtown’s historic squares and nearby Chavis Park.

• More than $275 million in planned new building construction to begin in 2015 and 2016 with additional projects expected to be announced in the near future.

Raleigh ranked #1 for Best Places for Business and Careers 2014 - Forbes, July 2014

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RALEIGH CONVENTION CENTER

MOORE SQUARE

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SEABOARD/PERSON STREET DISTRICT

ON THE MAP | DOWNTOWN DISTRICTS

R-LINE

Parking Deck

Charging Station

Railroad Tracks

Fayetteville Street District Moore Square

District

WarehouseDistrict

Capital District

Glenwood South

District

WAREHOUSE

GLENWOOD SOUTH

MOORE SQUARE

CAPITAL

FAYETTEVILLE STREET

SEABOARD/PERSON STREET

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Warehouse DistrictCharacterized by its red brick warehouses, the Warehouse District has transformed into a vibrant mix of art museums, restaurants, destination retail, technology firms, and will soon add transit-oriented development to the mix with the addition of Union Station breaking ground this year. Residents, visitors, and employees find plenty of entertainment as the Warehouse District is home to great restaurants, galleries and entertainment venues. In recent years, the district has also seen the addition of new destination retail, where retailers make their products and sell them on site. • Over 200,000 square feet of office space for technology

companies opening or planned• Home to Citrix and HQ Raleigh• Over 10 restaurants, 11 stores, six art galleries with more

coming each year

Glenwood South DistrictOne of downtown’s signature streets holds an eclectic mix of restaurants, art galleries, stores, nightlife, and residences. New restaurants blend in with established favorites, while the exploding population of young workers find plenty to do in the active bar scene, which just added the massive new Carolina Ale House. With over 600 units under construction and more on the way, Glenwood South will build on its existing residential base to become one of downtown’s most distinctive neighborhoods. • 684 new residential units opening in 2015 and 2016 • Over 20 bars and clubs• 32 dining establishments• 21 retailers offering many types of goods

Moore Square DistrictMajor public investment stimulating large private development will spur drastic change for Moore Square. The park will undergo a $12.5 million renovation beginning in early 2016, while the nearby Moore Square Transit Center will begin a $7 million renovation in 2015. Residential development such as SkyHouse Raleigh and The Lincoln will help make this district one of the densest neighborhoods in Raleigh. The district is already a destination for retail and the arts as it’s home to the unique Historic City Market, which has independent retail stores and restaurants, and Artspace, featuring 25 artist studios. • Over 500 apartment units opening in 2015• Over 15% increase from 2013 in food and beverage tax revenue• 600,000+ attend Marbles Kids Museum and Wells Fargo IMAX

Theatre each year

Capital DistrictThe Capital District is the power center of North Carolina and home to some of the state’s biggest tourist attractions. With the State Capitol, Legislative Building, Governor’s Mansion, and 3.5 million square feet of government office space, many of the most important decisions in the state are made in this district. The NC History Museum and NC Museum of Natural Sciences drew a combined 1.3 million visitors to the Capital District last year—more than any other attractions in the state. With new apartments and townhomes opening on the northern edge of the district and a renewed interest in redeveloping the state government campus by Governor Pat McCrory, this district will transform into a more vibrant district for downtown. • 276 new residential units under construction• 1.5 million visitors annually• Approximately 9,000 employees

Fayetteville Street DistrictHome to the civic spine of the city and state with the iconic Fayetteville Street, this district has something for everyone with skyscrapers of Class A office space and condos mixed with award winning restaurants, a major performing arts center, large outdoor event space and amphitheater, independent retailers, galleries, the convention center, and exciting nightlife. This district has also added unique boutiques and a wide array of restaurants over the past few years. • 40 dining establishments• 12 stores and boutiques• Home to the four tallest buildings in Raleigh and six of the top

10 overall

Seaboard/Person Street DistrictContaining the commercial centers of Seaboard Station and Person Street Plaza, the district has a neighborhood feel with locally-owned businesses. This area is home to historic anchor institutions like William Peace University, as well as contemporary landmarks like the AIA Center for Architecture and the new Holy Trinity Anglican Church. Nearby residential development like Blount Street Commons, Elan City Center Apartments, and Peace Street Townes will bring more residents to this area and increase the demand for retail and services, along with better connectivity to the rest of downtown.• Both Seaboard Station (92,000 square feet) and 111 Seaboard

(15,248 square feet) are 100% occupied• Over 15 retail stores and services• Over 10 dining establishments

#3 Best Up and Coming Cities for Art and Culture - Women’s Health,

September 2014

DOWNTOWN DISTRICTS


1,079/SM

Wake CountyCity of RaleighCBD

DENSITY | PEOPLE PER SQUARE MILE

GROWTH | PERCENTAGE INCREASE SINCE 2000 POPULATION | CURRENT SHARE BY DISTRICT

2,977/SM5,063/SM

POPULATION

AGE | YOUNG PROFESSIONALS

20 - 24

45 - 5425 - 34

55 - 64

Under 19

35 - 44

65+

40.5% of downtown residents are between the ages of 25-44 compared to 30% for the City of Raleigh and 26% nationally.

Central Business District

Raleigh-Cary Metropolitan Statistical Area

United States of America

[ SOURCE: American Community Survey, 2007-11 ]

Downtown Raleigh’s population has grown by 53% since 2000 with the addition of over 1,000 new residential units in buildings like Park Devereux, PNC Plaza, The Hudson Condominiums, The Dawson, Hue Apartments, Palladium Plaza, West at North, 222 Glenwood, 712 Tucker, and St. Mary’s Square.

0% 20% 40%10% 30% 50%

DOWNTOWN RALEIGH

CITY OF RALEIGH

STATE OF NC

Capital and Glenwood South districts could potentially see a larger share in the growth of residents in the coming years, relative to other districts, in part due to current construction at The Gramercy, The Link, Devon Four25, Elan City Center, Blount Street Commons, and Peace Street Townes.

Glenwood South15%Warehouse

17%

Fayetteville Street19%

Moore Square22%

Seaboard/Person Street

23%

Capital4%

Downtown Raleigh is 70% more dense than the City of Raleigh and 369% denser than Wake County.

[ SOURCE: U.S. Census, 2000, 2010. Portions of Census Block groups 501, 503, 504, 509, 510 ]

[ SOURCE: U.S. Census, 2000, 2010. Portions of Census Block groups 501, 503, 504, 509, 510 ] [ SOURCE: HR&A Advisors ]

Downtown Raleigh’s current population is an estimated 5,975, though, inclusion of some nearby blocks, often considered part of downtown, bring that estimated population total to just over 7,800. Within one mile of downtown’s center point, the current population is an estimated 14,964.

Downtown’s population is projected to be near 9,000 residents by 2019, over 11,000 including some adjacent neighborhoods, and over 18,000 residents will reside within one mile of downtown’s center. There is opportunity for even more growth if the present rate of development continues.

The annual rate of growth in median household income between 2014-2019 will be 4.1% for the greater downtown area compared to 2.98% for the state and 2.74% nationally.

12.8% growth in average household income for residents between the ages of 25-54 from 2014-2019.

POPULATION | GROWTH EXPECTED TO CONTINUE IN YEARS TO COME

INCOME | AVERAGE HOUSEHOLD INCOME FOR DOWNTOWN RESIDENTS BETWEEN 25-34

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$60,000

$65,000

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2014 2019 (Projected)

Nearly 54% of greater downtown residents are between the ages of 25-54 and that demographic is expected to see growth in their average household income.

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[ SOURCE: U.S. Census, 2000, 2010. Portions of Census Block groups 501, 503, 504, 509, 510, DRA Projections based on new development ]

[ SOURCES: U.S. Census, ESRI Business Analyst ]

2003: LIVABLE STREETS PLAN

2004: TWO PROGRESS PLAZA OPENED

2005: $60 MILLION IN RESIDENTIAL UNITS COMPLETED

2011: CAM RALEIGH OPENED

2007: MARBLES KIDS MUSEUM OPENED

2012: THE NATURE RESEARCH CENTER GREEN SQUARE OPENED

2008: RALEIGH CONVENTION CENTER AND MARRIOTT CITY CENTER OPENED

2013: TECH COMPANIES MOVED DOWNTOWN

2014: CITRIX MOVES DOWNTOWN

2010: RED HAT AMPHITHEATER OPENED

Five transformative projects planned for five years

1. Fayetteville Street reopened to vehicular traffic

2. Built new Raleigh Convention Center3. Pedestrian environment

improvements4. Upgraded business climate through

regulatory reform5. Expanded downtown management

and marketing

Two Progress Plaza (now Red Hat Tower), the $100 million project added over 350,000 square feet of office space

The Hudson, The Paramount, and The Dawson gave new residential options

Contemporary Art Museum opened anchoring the Warehouse District

Currently draws over 600,000 visitors to downtown every year

Provides over 500,000 square feet of exhibition and meeting space, along with 390 rooms in the heart of downtown.

• Ipreo relocated, bringing over 250 jobs to downtown

• Red Hat moved into Red Hat Tower after a $30 million renovation, bringing over 900 jobs

2013: JUSTICE CENTER AND SECU TOWER OPENED• Justice Center: $153 million

investment and LEED Silver certified• SECU: $45 million investment and

LEED Gold certified

Citrix moved into the Warehouse District occupying a 171,000 square foot modern office building in a restored warehouse and joined other tech companies to help make downtown a destination for innovation and cutting edge firms

Downtown kicks off plan for future with public events drawing over 1,000 people to create a 10 year vision for downtown’s future

Massive boom in residential construction: 11 residential buildings under construction in downtown at one time with 1,840 residential units being built

The Nature Research Center Green Square completed and currently draws 1.2 million visitors annually

2008: $630 MILLION IN COMPLETED PROJECTS• Raleigh’s tallest building at 538

feet, RBC Plaza (now PNC Plaza) completed

• 426 luxury condo units completed at 222 Glenwood, West at North, and RBC Plaza (now PNC Plaza)

Provides a unique outdoor venue for the region

2009: CITY PLAZA OPENED

A premier outdoor event location that now hosts thousands of visitors for festivals, concerts, movies, a farmers market, and other events

PAST DOWNTOWN

REVITALIZATION

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RESIDENTS WILL FLOCK TO DOWNTOWN AS NEW DEVELOPMENTS OPEN

• Over 1,800 units will be completed in 2015 and early 2016 with more planned for the future

• SkyHouse Raleigh opens in Spring 2015 with 323 units and 23 floors of panoramic views of Raleigh

• The L, Elan City Center, The Lincoln, Link Apartments, The Gramercy, The Ten at South Person, Peace Street Townes, Blount Street Commons, 220 The Saint, and Edison Apartments all add substantial population to downtown and help make it the densest urban core in the Triangle

MORE GROUND-LEVEL SPACE WILL BE ADDED

Space will help accommodate the growing retail demand. Given downtown’s retail base has grown by over 35% in the past four years and storefront vacancy continues to hover in the single digits, more ground-level space will bring new stores and life to downtown’s streets

• New residential and office towers add both customers and ground-floor space to lease to new stores seeking to build off downtown’s growing retail base

• 90,000 estimated square footage in new ground-floor space

MORE GREEN SPACE WILL BE ADDED INCLUDING DOROTHEA DIX PARK:

• Devereux Meadows provides much needed green space near Glenwood South and the north side of downtown

• The 308-acre Dorothea Dix Park gives downtown and Raleigh a signature, urban green space for a wide variety of recreational uses

• Exchange and Market Plazas will complete a $2 million restoration and allow for small-scale community gatherings and some space for rest and reflection amidst Fayetteville Street’s towers

FUTURE DOWNTOWN

REVITALIZATION

WEST STATION ENTRY

• $79.8 million multi-modal station in the Warehouse District, which will enhance downtown’s transit accessibility, connectivity to the rest of the region, and stimulate transit-oriented development begins construction in summer 2015

UNION STATION BREAKS GROUND

HOTEL ROOMS WILL BE ADDED TO MEET GROWING DEMAND Buoyed by a rising occupancy rate, more business travelers visiting downtown, and a strong interest in expanding Raleigh’s successful convention center, more hotels are coming to downtown

• Residence Inn by Marriott opens in 2016 with 145 rooms near the convention center

• Other hotel projects are also currently in the works, which look to break ground in 2015-2016

MORE OFFICE TOWERS WILL OPEN• Charter Square: 243,000 square

foot, Class A office tower opens on Fayetteville Street, providing more high quality office space to downtown’s tight market

• 227 Fayetteville: renovation is completed of a 101,439 square foot office tower on Fayetteville Street, providing easy access to government centers, restaurants, retail, and nightlife

• More office towers, such as The Edison and the north tower of Charter Square will break ground

DOWNTOWN EXPERIENCE PLAN WILL BE IMPLEMENTED

The Downtown Experience Plan will bring more greenspace, walkability, transit, bicycle infrastructure, retail, connectivity, housing options, and new development to downtown Raleigh


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DEVELOPMENT + INVESTMENT | 17

DEVELOPMENT + INVESTMENTDowntown Raleigh is exploding with new construction and development. Over the past decade, downtown has seen approximately $2.5 billion in investment, which has resulted in more residents, workers, and visitors, along with more retail, restaurants, bars, and services.

• 288 new hotel rooms within walking distance of the Raleigh Convention Center

• 1,840 new residential units• More than $140 million in public investment

Downtown will see major growth in 2015 with several new projects nearing completion as the year began with $357 million in ongoing construction and over 15 new buildings opening this year. Furthermore, more than $350 million in new construction will begin in 2015 and 2016, continuing downtown’s revitalization and development boom. Every district will see significant private and public investment.

per acre basis as of 10/29/2013.

$0 $200,000+

Tax Billed (per acre)

[SOURCE: Wake County Revenue Department By Ray Aull, City of Raleigh Planning ]

Raleigh Municipal BoundaryCity Limits (Tax Exempt)

TAX REVENUE | RALEIGH’S SHARE OF THE TAX YIELD OF EACH PARCEL ON A PER ACRE BASIS

Downtown Raleigh currently has over 2 million square feet of space under construction.

The additional tax revenue generated by dense downtown development can provide needed funds for new or additional government services from police and fire protection to affordable housing or new infrastructure such as sidewalks, bike lanes, green space, and a bike share system for Raleigh. This additional tax revenue is generated on far less land than development outside the CBD.

Downtown Raleigh is home to the most valuable land and development in the city and continues to increase in worth. In 2014, major building sales included One Bank of America Plaza and Citrix, which saw their value per square foot increase dramatically.

CITRIX EMPLOYEES work in a former warehouse turned into an innovative office space after a $45 million overhaul of the building completed in 2014. The environmentally-friendly building boasts a private cafeteria, a rooftop garden, game areas, and many co-working spaces to facilitate collaboration.

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TAX YIELD | HIGH RISE BUILDINGS PAY SIGNIFICANTLY MORE PROPERTY TAX

BIG BOX STORE WELLS FARGO BUILDING

This graphic illustrates that the Wells Fargo building pays $959,785 more per acre than a big box store in Raleigh.

[ SOURCES: Triangle Business Journal, News and Observer ]

BANK OF AMERICA BUILDINGCITRIX

20142014 20052012

PRICE BY SQUARE FOOT | VAST INCREASE THROUGH THE YEARS

$227

$130

$18

$380

[ SOURCE: DRA analysis of Wake County Property Records, 2014 ]

[ SOURCE: DRA analysis of Wake County Property Records, 2014 ] DEVELOPMENT + INVESTMENT | 19

Single family home

Apartment complexes outside MSD

Downtown multi-family apartment building

Big Box Store (Raleigh)

Crabtree Valley Mall

Downtown Office Tower

TAX YIELD | DOWNTOWN DENSITY GENERATES GREATER TAX YIELD PER ACRE

Property Tax Yield (per acre)

[ SOURCE: DRA analysis of Wake County Property Records, 2014 ]

With over 15 multi-story buildings under construction and several more major projects planned, new developments will continue to add more value and tax revenue from downtown investments. Additionally, denser development in downtown results in more efficient use of land and much higher value per acre than low-rise commercial development. For example, a downtown office tower pays an average of $844,570.71 in property taxes per acre, per

year, while a big box retailer in Raleigh pays an average of $7,520 per acre annually.

Downtown multi-family apartment buildings also yield more efficient tax revenue per acre, as they average $136,718 per acre in property taxes to the city and county governments versus just over $8,000 per acre for large apartment complexes throughout the rest of the city.

CAPITAL

FAYETTEVILLE STREET

GLENWOOD SOUTH

MOORE SQUARE

WAREHOUSE

TOTAL

PRIVATE INVESTMENTDISTRICT PUBLIC SECTOR TOTAL

$43,000,000

$116,500,000

$135,500,000

$274,400,000

$25,000,000*

$594,400,000

$40,000,000

$2,000,000

$2,000,000

$20,000,000

$79,000,000

$143,000,000

$83,000,000

$118,500,000

$138,500,000

$294,400,000

$104,000,000

$738,400,000

Note: Investment numbers are estimated costs and will likely change during the course of construction

* Cost for HQ Raleigh expansion is not finalized so this figure will increase

DISTRICT-LEVEL INVESTMENT | PROJECTS UNDER CONSTRUCTION, RECENTLY COMPLETED IN LATE 2014/EARLY 2015, AND PUBLICLY ANNOUNCED TO BEGIN CONSTRUCTION IN 2015/2016

$2,837

$7,520.71

$8,370.19

$57,175.90

$136,718.72

$844,570.71

HIBERNIAN PUB

CAROLINA ALE HOUSE

CITRIX

DEVON FOUR25

MCCLATCHY INTERACTIVE

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Carolina Ale HouseThis 37,000 square foot building provides a prominent anchor establishment for Glenwood Avenue. The restaurant’s patio space can accommodate 200 diners and includes radiant heated floors, a retractable roof system, and custom-made, motorized vertical windows, which are the only windows of their kind in the United States.¹ At a cost of nearly $8 million, this new building also has additional restaurant and retail space for future concepts.

Hibernian PubRising from the ashes of a fire that destroyed the previous location, the Hibernian Pub came back even better than before after the $1.8 million rebuilding. This Glenwood Avenue institution now has 8,000 square feet with two levels and an outdoor deck, which provides even more space for the community to gather for dinner after work or a big event like St. Patrick’s Day.

McClatchy InteractiveThe online division for McClatchy Company, owners of The News and Observer, is now headquartered in this $2.6 million project, which renovated 23,903 square feet of the Martin Building and included a 7,325 square foot addition. This project preserved the architecture of the 1951 Art-Moderne-inspired building, while making it look sleek and modern for the tech company.

Devon Four25This eight-story, mixed-use building includes 261 apartment units and 11,000 square feet of ground floor retail and office space in the vibrant Glenwood South neighborhood. Construction of this $35 million building included a significant amount of concrete framing, as opposed to wood framing often used for similar projects, which reduces sound leakage from the outside and between floors, as well as providing a sturdy frame for a durable building to last for years to come.

CitrixOpening in September 2014, this 171,000 square foot $45 million overhaul of an old warehouse brought new life to downtown’s already burgeoning Warehouse District and serves as the Raleigh home to tech company, Citrix. The design of this massive rehabilitation retains the character of the former warehouse, while adding new and innovative workplace elements that reflect the cutting-edge tenant. The environmentally-friendly building includes conference areas made out of retrofitted transatlantic shipping containers, a rooftop garden, indoor racquetball court, and a 55-foot living wall.

¹ TBJ

2015 IMPRINT

AWARD WINNERS

With a mix of renovations, rebuilding, and new construction, these award winners total over $90 million in downtown investment.

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BLOUNT + PERSON ST CORRIDOR IMPROVEMENTS

EDISON APARTMENTS

EDISON OFFICE

THE LINCOLN

MOORE SQUARE RENOVATION

MOORE SQUARE TRANSIT CENTER

SKYHOUSE RALEIGH

STONE’S WAREHOUSE RENOVATION

THE TEN AT SOUTH PERSON

$750,000

$55,000,000

$120,000,000

$35,000,000

$12,500,000

$7,000,000

$60,000,000

Not Announced

$2,400,000

Planned

Under Construction

Planned

Under Construction

Planned

Planned

Completed

Planned

Under Construction

Infrastructure

239 apartments

315,000 SF

224 apartments

Renovation

Infrastructure

323 apartments

Mixed Use

10 townhomes

WHAT’S NEW | CURRENT AND PLANNED INVESTMENT BY DISTRICT

WHAT’S NEW | DEVELOPMENT PROJECTS IN DOWNTOWN

PROJECT NAME

PROJECT NAME

INVESTMENT

INVESTMENT

STATUS

STATUS

DESCRIPTION

DESCRIPTION

MOORE SQUARE DISTRICT

Moore Square

40%

Warehouse

14%Capital

11%

Fayetteville Street

16%

Glenwood South

19%

WAREHOUSE DISTRICT

CITRIX

HQ RALEIGH EXPANSION

UNION STATION

$45,000,000

Not Announced

$79,800,000

Completed

Planned

Planned

171,000 SF

30,000 SF

26,000 SF


$3,000,000

$8,000,000

$5,500,000

$63,000,000

Not Announced

Not Announced

Not Announced

$17,000,000

$20,000,000

Completed

Under Construction

Under Construction

Under Construction

Planned

Planned

Planned

Under Construction

Planned

10,903 SF

101,439 SF

31,820 SF

243,000 SF

23 stories

Infrastructure

143 hotel rooms

83 apartments

145 hotel rooms

PROJECT NAME

PROJECT NAME

PROJECT NAME

INVESTMENT

INVESTMENT

INVESTMENT

STATUS

STATUS

STATUS

DESCRIPTION

DESCRIPTION

DESCRIPTION

GLENWOOD SOUTH DISTRICT

FAYETTEVILLE STREET DISTRICT

200 S. SALISBURY (DEATH AND TAXES)

227 FAYETTEVILLE ST.

BOYLAN-PEARCE BUILDING

CHARTER SQUARE

CHARTER SQUARE II

EXCHANGE & MARKET PLAZAS RENOVATION

HILTON GARDEN INN

THE L

RESIDENCE INN BY MARRIOTT

220 THE SAINT

CAROLINA ALE HOUSE

DEVON FOUR25

THE GRAMERCY

LINK APARTMENTS

PEACE STREET STREETSCAPE

RALEIGH BEER GARDEN

WEST AND WEST II APARTMENTS

$7,000,000

$7,500,000

$35,000,000

$30,000,000

$30,000,000

$2,000,000

$2,000,000

Not Announced

Under Construction

Completed

Completed

Under Construction

Under Construction

Planned

Under Construction

Planned

17 townhomes

37,000 SF

261 apartments

203 apartments

203 apartments

Infrastructure

8,670 SF

330 apartments

CAPITAL DISTRICT

BLOUNT STREET COMMONS

ELAN CITY CENTER

PEACE STREET TOWNES

PEACE ST/CAPITAL BLVD BRIDGE REALIGNMENT

$8,000,000

$30,000,000

$5,000,000

$40,000,000

Under Construction

Under Construction

Under Construction

Planned

46 townhomes

213 apartments

17 townhomes

Infrastructure

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FUTURE PLANNING + INVESTMENT | 25

The City of Raleigh and the Downtown Raleigh Alliance partnered to create a 10-year plan for downtown Raleigh, which builds off the successes downtown experienced in recent years. The 2003 Livable Streets Plan brought new life to downtown with the reopening of Fayetteville Street and construction of a new convention center.

Much like that plan, the Downtown 2025 Experience Plan provides a new map for guiding growth and development in downtown and addresses both opportunities and challenges facing downtown over the next decade.

In many ways, downtown’s future is not just predicated on large investments or projects, but also requires looking at the fabric of downtown and filling the gaps or creating

new connections to elevate downtown to a new level. Several of the next big project ideas are already planned, such as Raleigh Union Station, the Devereux Meadows park, the extension of West Street and renovation of Moore Square and the adjacent transit center. This plan seeks to connect them with broader themes and ideas for downtown’s future, which improve park and common spaces, provide more transportation options, maintain authenticity and character, create a robust retail environment, improve affordable housing options, and establish stronger partnerships for downtown’s future. The plan embeds these actions within four broad themes, Breathe, Move, Stay, and Link with each theme given a physical form through catalytic projects to help transform Raleigh’s urban core.

With several thousand new residents and office workers coming to downtown over the next few years, the future is bright for downtown Raleigh. Today, downtown Raleigh looks very different with greater density and vibrancy than a decade ago. Downtown’s revitalization came together through a mixture of strategic public investments, pioneering developers, a vibrant arts and cultural scene, along with residents and business owners seeking to build a community in an urban core. The future of downtown looks to build off that base and create a true, vibrant center with its best years ahead.

FUTURE PLANNING + INVESTMENT

DOWNTOWN 2025 EXPERIENCE PLAN

Improving the retail environment is one of the most important goals for the downtown community and the Downtown Experience Plan highlights this need by building off of DRA’s existing retail efforts (outlined in the Retail chapter on page 51). Initiatives will:

• Target specific locations for retail incentive area with streetscape improvements and improved wayfinding, public art, and parklets

• Expand on existing downtown Raleigh retail strategy to target local, authentic retailers

• Identify a toolkit for retail recruitment, such as a retail-specific grant or incentive, to assist new retailers

• Explore partnerships to recruit a grocery store, movie theatre or other neighborhood services

• Encourage pop-up shops, food trucks, and mobile vendors to activate more isolated parts of retail corridors

© Carolyn Scott © Carolyn Scott© Carolyn Scott © Carolyn Scott

SOURCE: City of Raleigh

RETAIL STRATEGY | ROBUST RETAIL LANDSCAPE

Moore Square

Nash Square

Halifax Park

William Peace University

ShawUniversity

Devereux Meadows

Chavis-Oakwood Greenway Connector

Dix- Devereux Greenway Connector

Dix property

Chavis Park

Caswell Square

BurkeSquare

Halifax Mall

AmphitheaterCity Plaza

Oakwood Park

to NC State

to Mordecai

to East Raleigh

to Southeast Raleigh and South Park

to Boylan Heights, Dix property and Rocky Branch Trail

to New Bern Ave

to Cameron Village

to Oakwood

DOWNTOWN BIKE CIRCUIT

Pedestrian-oriented street

Safe intersection for all modes

Primary green street or greenway

Civic / symbolic spine

Major vehicular street

Key bicycle connection

CONNECTIVITY

A GREENER RALEIGH

DOWNTOWN BIKE CIRCUIT

PARKS + GREENWAYS

Civic / symbolic spine

Major vehicular street

Key bicycle connection

FUTURE PLANNING + INVESTMENT | 27SOURCES: City of Raleigh, Sasaki Associates

BREATHE |

The goal of “Breathe” is to transform downtown Raleigh into a center for innovative urban parks and appealing green spaces, as well as improve existing parks and expand park access to underserved areas of downtown.

Actions:• Renovation of existing parks such as historic Moore and Nash Squares • Build new parks and greenspaces in downtown such as Devereux Meadows • Extend the greenway system to better connect downtown’s greenspace to the rest of the city• Create a funding and governance structure for the acquisition, creation, and maintenance of downtown parks

IMPROVE, EXPAND, AND CONNECT

The goal of “Move” is to enhance street character and uses along key streets to make walking, biking, and transit the preferred ways to get in and around downtown, while still accommodating automobile traffic.

Actions: • Create a complete pedestrian network • Provide on and off-street bicycle facilities and infrastructure to link downtown’s districts and major cycling routes

into the rest of the city • Enhance transit service through service improvements, such as route consolidation, increased frequency, an

improved R-LINE and upgraded passenger amenities• Accommodate automobile use through a multi-modal grid of complete streets, as well as on- and off-street parking

facilities in areas of high demand

MOVE | TURN DOWNTOWN RALEIGH INTO A

MODEL FOR WALKABILITY, TRANSIT, AND BIKING

DOWNTOWN’S GREEN SPACE

SOURCES: City of Raleigh, Sasaki Associates

LINK |

The goal of “Stay” is to provide a balance to downtown, where all are welcomed through strategic growth and redevelopment to transform the city into a regional center for tourism, entertainment, and culture.

Actions:• Maintain downtown character and

authenticity through historic preservation and adaptive reuse, public art, and high-quality new construction

• Ensure downtown remains clean and hospitable

• Encourage the development of vacant and underbuilt sites to fill the entire downtown with active uses

• Create a robust retail environment in downtown to include a combination of local and destination retail

• Ensure downtown has a diversity of housing opportunities at different price points

• Partner with non-profits and Wake County to address homelessness and work to secure facilities for the homeless population

The goal of “Link” is to bring together institutions, the private sector, and public partners to accelerate the implementation of the downtown vision.

Actions:• Partner with public agencies, downtown

universities, local non-profits, and the private sector on key initiatives and projects

• Work with the state government on projects related to the Capital District, Shaw University and William Peace University for their campuses and properties, DRA on retail recruitment, and private property owners of key buildings or land to help unlock downtown’s potential

LINK NETWORK & PARTNER

BRING TOGETHER INSTITUTIONAL, PUBLIC,AND PRIVATE PARTNERSHIPS

STAY | REALIZE DOWNTOWN’S POTENTIAL AS A DYNAMIC REGIONAL CENTER

Public-Private Partnerships

Cross-jurisdictional Collaborations

Non-profits & Civic Organizations

University Partners

DTRaleigh


GATEWAY CENTER

On downtown’s southern edge, the opportunity exists to extend downtown several city blocks, facilitated by large parcels, consolidated ownership, and city-owned property.

GLENWOOD GREEN

This project focuses on creating a new urban park at Devereux Meadows, an improved block pattern created by the Peace Street Bridge replacement, and a greenway connecting Glenwood South with areas to the north and south.

Five areas of downtown have been identified to serve as examples of how the themes and actions translate into physical form. These areas are titled: Gateway Center, Glenwood Green, North End, Moore Square, and Nash Square-Union Station.


CATALYTIC PROJECT AREAS

NORTH END

This project focuses on improving connectivity through renovations of Peace Street and streetscape improvements to Blount and Person streets with better bicycle and pedestrian access providing connections between urban neighborhoods like Oakwood and Glenwood South.

MOORE SQUARE

More than any other catalytic project area, this one focuses on large public investment in the park and transit center renovation, along with redevelopment of key, publicly owned parcels near the square to help revitalize this historic district.

Salisbury Street

Wilmington Street

Blount Street

Person Street

Halifax Street

HALIFAX PARK

© Carolyn Scott



NASH SQUARE-RALEIGH UNION STATION

A renovation of Nash Square, improved streetscaping, and programming for the Hargett and Martin street corridors toward more pedestrian and retail-oriented uses, and connecting Raleigh Union Station to the rest of downtown are all a part of this project area’s vision.

RALEIGH UNION STATION

This $79.8 million project will transform downtown’s Warehouse District and the city, as a whole, by providing a top-notch transit facility to move thousands of riders and visitors each day. Not only will this project dramatically improve Raleigh’s transit facilities and help the connectivity of downtown to the rest of the city and region, but also could stimulate transit-oriented development in the Warehouse District. The first phase of the project, the passenger rail facility, will be housed in a renovated Dillon Supply Warehouse building located at 510 W. Martin St with construction beginning mid-2015 and completion scheduled for 2017.


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LIVING | 33

LIVINGOne of the major trends transforming downtown Raleigh is the boom in new residential construction. At the beginning of 2015, downtown had 1,840 units under construction or preparing to open with more planned in the near future. Over the next year, all these units will open and add an estimated 3,000 new residents to downtown in one square mile.

Several districts will see dramatic increases in their population and density, including Moore Square and Glenwood South, which will bring even higher demand for retail, services, and dining. Meanwhile, the previously quiet Capital District will see a major infusion of new

residents, helping connect the rest of downtown with nearby neighborhoods and shopping districts on the north side, such as Seaboard Station, Person Street Plaza and Oakwood.

Raleigh will see a more than 50% increase in the number of housing units in downtown in 2015 and 2016.

Average rent: $1,399/month for Class A multi-family in downtown, $1,265 for all apartments within one mile of downtown¹

684 new units within three blocks

of Glenwood Avenue

796 new units within two blocks of Moore Square

6% vacancy rate for multi-family apartments within one mile of downtown area overall¹

¹Integra Realty Resources ²Kwelia

Median rent per square foot: $1.63 per sf²

Vacancy rate for multi-family apartment Class A

buildings¹

2.73%

With a diverse array of dining, nightlife, and local retail options as well as a myriad of events and festivals, downtown Raleigh residents live in the center of cultural activity in the region.

RESIDENTIAL | UNITS UNDER CONSTRUCTION BY DISTRICT

"Living downtown, I save thirty minutes to an hour

a day with no commute so I gain time for work, for

running, or anything else I want to do. But I mainly

live downtown because it’s more fun. My wife and

I walk to bars, restaurants, street festivals, and live

shows that we just wouldn’t go to if we didn’t live

nearby." -David Meeker, Downtown Resident

Moore Square

Capital Glenwood South

[ SOURCE: DRA ]

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Fayetteville Street

5%

43%

15%

37%

LIVING | 35

RESIDENTIAL | PROJECTS UNDER CONSTRUCTION/OPENING

220 THE SAINT

BLOUNT STREET COMMONS

THE EDISON APARTMENTS

ELAN CITY CENTER

DEVON FOUR25

THE GRAMERCY

THE L

THE LINCOLN

LINK APARTMENTS

PEACE STREET TOWNES

SKYHOUSE RALEIGH

THE TEN AT SOUTH PERSON

PROJECT TYPE DISTRICT EXPECTED TO OPEN

INVESTMENTNUMBER OF UNITS

Townhomes

Townhomes

Apartments

Apartments

Apartments

Apartments

Apartments

Apartments

Apartments

Townhomes

Apartments

Townhomes

Glenwood South

Capital

Moore Square

Capital

Glenwood South

Glenwood South

Fayetteville Street

Moore Square

Glenwood South

Capital

Moore Square

Moore Square

$7 million

$8 million

$55 million

$30 million

$35 million

$30 million

$17 million

$35 million

$30 million

$5 million

$60 million

$2.4 million

17

46

239

213

261

203

83

224

203

17

323

10

2016

2015

2016

2015

2015

2015

2016

2015

2015

2015

2015

2015

* Note: one unit being constructed at Boylan-Pearce Building, Fayetteville St.

DOWNTOWN BUILDING BOOM | HOUSING CONSTRUCTION IN CBDs (under/about to begin construction and recent completion)

Downtowns across the southern U.S. are seeing major booms in housing construction in their CBDs with downtown Raleigh keeping pace.

[ SOURCES: City of Austin, Nashville Downtown Partnership, Venture Richmond, Downtown Memphis Commission, Central Atlanta Progress, Upstate Business Journal, City of Greenville, SC. ]

[ SOURCE: DRA ]

Raleigh NashvilleAustin Richmond AtlantaMemphis Greenville, SC

0

1400

700

2100

2800

Num

ber

of

Uni

ts

Downtown Raleigh’s multi-family apartment market is booming with low vacancy rates driving the demand. For multi-family apartment buildings within downtown, the vacancy rate is a mere 2.73%, while the vacancy rate for all apartment buildings within one mile of downtown is 6.0% and the vacancy rate for Class A apartments within one mile of downtown is 7.3%. (These numbers do not include brand new buildings currently in their lease-up phase.)

APARTMENTS

DEMAND | MULTI-FAMILY APARTMENT VACANCY

0%

3.75%

7.5%

Downtown Class A MSD

Greater DowntownB/C

Greater DowntownClass A

Greater Downtown Class A/B/C

Triangle Average

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© Carolyn Scott

Source: Intregra Realty Resources, Colliers (for regional average)

Need for affordable options:The vacancy rate for Class B/C apartments within one mile of downtown is 2.8%, indicating a strong demand for affordable options in and near downtown. Affordable housing, though, increasingly will become an issue as downtown’s new housing supply is mostly priced on the higher end of the multi-family market in the Triangle and median rent per square foot is expected to increase. Furthermore, with little existing supply in downtown built before 2000 and a rapidly increasing population in the city and region, most of the current apartments that may decline in value due to new supply will not likely be in the CBD.

*Note: “Greater Downtown” refers to apartments within one mile of downtown.

LIVING | 37

PRICE | AVERAGE RENT FOR DOWNTOWN MULTI-FAMILY APARTMENTS

Downtown MSD Class A Greater Downtown Class A Greater Downtown Class A/B/C

$1,200

$1,350

$1,275

$1,425

$1,500

Downtown Raleigh has a lower median apartment rent per square foot than several peer CBDs. Downtowns like Austin and Nashville, along with more established CBDs in the north, have median rents well above $2.00 per square foot.

COMPARISON | MEDIAN RENT PER SQUARE FOOT (CBD ONLY)

$0.00

$0.50

$1.50

$2.50

$3.50

$2.00

$1.00

$3.00

$4.00

Raleigh

Nashville

Austin

Richmond

Orlando

Dallas

Atlanta

Memphis

Philadelphia

Wash

ington

Greenville, S

C

Average rent for downtown is $1,399, while the average rent for apartments within one mile of downtown is $1,265, including all classes of multi-family apartments.

[ SOURCES: Integra Reality Resources ]

[ SOURCES: Kwelia ]

*Note: “Greater Downtown” refers to apartments within one mile of downtown.

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OFFICE + EMPLOYMENT | 39

OFFICE + EMPLOYMENTDowntown Raleigh is attracting new companies, tech incubators, Class A office projects, ultra-fast Internet service, and is home to an increasingly talented workforce.

Over 600 Citrix employees moved into their brand new state of the art facility in 2014. The building boasts a private cafeteria, outdoor games, and gorgeous views of downtown’s skyline.

In 2014 tech company Citrix moved over 600 employees into its new 171,000 square foot building in the Warehouse District. Citrix joins Red Hat, Ipreo, and other tech firms in transforming downtown into a hub of technology and innovation. In addition to large tech employers, incubators HQ Raleigh and American Underground house over 100 startups and will accommodate even more when HQ Raleigh expands by an additional 30,000 square feet.

Downtown and the Triangle’s tech and innovation base should continue to grow with the introduction of Google Fiber, along with AT&T’s U-Verse with Gigapower. These new ultra-fast Internet services will provide a competitive advantage to the Triangle and allow downtown firms to transfer huge amounts of data and research and connect even faster with clients and servers.

The next two years will also see the delivery of over 700,000 square feet of Class A office space in response to historically low vacancy levels in the downtown office market over the past few years. Charter Square, the renovation of 227 Fayetteville, and the planned Edison Office tower and Charter Square II will add significant supply to downtown’s Class A office market.

New tech companies and new office space are also in response to downtown’s educated and talented workforce. Raleigh is home to over 40,000 college students with five colleges and universities in or near downtown and in a metro area where 36% of graduates hold a degree in Science, Technology, Engineering or Mathematics (STEM).¹

Educated and Talented Workforce

New Companies Starting and Relocating to Raleigh

Increasing Demand for New Office Space

FLOW CHART | TALENTED WORKFORCE LEADS TO STRONG NEED FOR OFFICE SPACE IN RALEIGH

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Inc

¹ Brookings Institute, Burning Glass

SOURCE: Avison Young

Downtown Raleigh’s office market is booming as new supply is built to respond to very low vacancy rates and strong interest in companies moving into downtown over the past few years.

$71 million in current office construction with over $150 million

planned to begin construction in 2015.

OFFICE MARKET

Downtown Raleigh boasts over 5 million square feet of privately-owned office space in the 110-block MSD in addition to over 5.7 million square feet of government office space.

9.2%9.2% vacancy rate at the

beginning of 20154% lower vacancy rate than the

Triangle region

Charter Square

• 243,000 square feet• $63 million• Speculative Class A office

space with ground floor retail

• Open Spring 2015

227 Fayetteville

• 101,439 square feet of Class A office space

• Renovation of office building in heart of Fayetteville Street

• Delivers to market in 2015

The Edison Office

• 315,000 square feet• $120 million• 290 foot tower• Construction begins in

2015

HQ Raleigh expansion

• 30,000 square feet of new incubator and startup space

• Renovation and expansion of an existing, adjacent building in Warehouse District

• Expected delivery in 2016

UPCOMING OFFICE PROJECTS | OVER 700,000 SQUARE FEET OF NEW CLASS A OFFICE SPACE BEING DELIVERED IN 2015 AND 2016

[ Average based on five market reports, Cushman Wakefield, JLL, Avison

Young, Triangle Business Journal, DTZ Americas ]

[ Average based on five market reports, Cushman Wakefield, JLL, Avison Young, Triangle Business

Journal, DTZ Americas ]

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0%

10%

5%

15%

20%

VACANCY | RATES FOR SUB-MARKETS IN THE TRIANGLE REGION

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Cam

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Entir

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egio

n

Within the region, downtown Raleigh has some of the lowest office vacancy rates.

"Our downtown is a very different place and a very different office market than it was 10-15 years ago

with the breadth of amenity choices and, seemingly, there is always something going on; it’s vibrant!"

- Ed Fritsch, President, Highwoods Properties

© Tierney Farrell

Sources: Avison Young, Triangle Business Journal, 4th Quarter 2014.

Downtown Raleigh has a competitively priced CBD with high enough rates to encourage new office development, but lower rates than several peer downtowns on the east coast and in the southern U.S.

Washington, DC

Houston, TX

Austin, TX

Philadelphia, PA

Raleigh, NC

Charlotte, NC

Nashville, TN

Orlando, FL

Richmond, VA

Columbia, SC

Atlanta, GA

$0.00 $20.00 $40.00 $60.00$10.00 $30.00 $50.00

Overall Rate Class A Rate Only

[ SOURCES: Colliers 4th Quarter Office data, JLL ]

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DEMAND | CLASS A AND OVERALL AVERAGE OFFICE RENT PER SQUARE FOOT


[ SOURCES: Colliers 4th Quarter Office data, JLL ]

$0.00

$10.00

$5.00

$15.00

$20.00

$25.00

COMPARISON | CLASS A RENTAL RATES IN TRIANGLE SUB-MARKETSD

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own

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eigh

Six

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/RTP

Entir

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egio

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[ SOURCE: Avison Young ]

Low vacancy rates and increasing demand have pushed Class A rental rates higher in downtown Raleigh relative to other sub-markets in the Triangle.

2%

0%

8%

14%

4%

10%

16%

6%

12%

18%

20%

Raleigh, NC

Nashville, TN

Columbia, SC

Austin, TX

Philadelphia, PA

Atlanta, GA

Richmond, VA

Houston, TX

Orlando, FL

Charlotte, NC

Washington, DC

VACANCY | CBD RATES LOW AMONG COMPARABLE CITIES

Total Vacancy Rates Class A Space Only

Among peer CBDs, downtown Raleigh has some of the lowest total and Class A vacancy rates, showing how strong demand is for office space in downtown.

Downtown is home to an estimated 54,600 employees across all sectors and is projected to add 15,000 employees including 11,500 office and service employees between 2010 (most recent census) and 2030, according

to estimates from HR&A and CAMPO. With potential new investments that make downtown even more attractive, such as mass transit, downtown’s employment growth could exceed these projections.

EMPLOYMENT

STATE OF NORTH CAROLINA

DUKE ENERGY

WAKE COUNTY GOVERNMENT

CITY OF RALEIGH

RED HAT, INC.

CITRIX

EMPIRE EATS/EMPIRE PROPERTIES

SHAW UNIVERSITY

COMPANY

DOWNTOWN WORKERS | LARGEST EMPLOYERS

#8

market in

High Tech Job Growth

CBRE, August 2014

#3#1

#4#5

Top Five Best Markets for Office Investment (Raleigh) - National

Real Estate Investor, January 2015

EMPLOYMENT HUB | SCIENCE, TECHNOLOGY, ENGINEERING + MATH (STEM) HIGH IN REGION²

in STEM Employment Growth

in percentage of all workers in STEM jobs

in job openings per capita for STEM graduates

best region for STEM professionals in the nation

¹HR&A, CAMPO ²WalletHub, Jan. 2015

2010-2030 | PROJECTED EMPLOYMENT GROWTH¹

2010 2010-2020 Growth 2020-2030 Growth

Downtown Raleigh

54,600

6,700

7,800

69,100


Downtown Raleigh still has a strong government sector anchoring its workforce, though, growth in private firms, particularly tech companies, is changing that dynamic and making downtown’s workforce more diverse by sector.

EMPLOYMENT | DOWNTOWN EMPLOYMENT BY SECTOR

EMPLOYMENT | RALEIGH-CARY METROPOLITAN AREA

89%higher share of employees in Computer and Mathematical occupations compared to the

national economy

49%higher share of employees in

Life, Physical, and Social Science occupations compared to the

national economy

33% higher share of employees in Architecture and Engineering occupations compared to the

national economy

Government

Other Services

Accommodation and Food Services

Arts and Entertainment

Health Care

Education

Professional Scientific and Tech Services

Administrative, Support and Waste Management

Finance and Insurance

Information

Retail Trade

Manufacturing

Construction

Utilities

0% 40%20% 60%10% 50%30%

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[ SOURCE: ESRI Business Analyst, U.S. Census, Dun & Bradstreet ]

[ SOURCE: U.S. Bureau of Labor Statistics “May 2013 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates” ]

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Downtown Raleigh’s technology and innovation scene has grown tremendously over the past few years and will continue to do so by attracting large companies and incubating smaller tech firms.

• Citrix, Red Hat, and Ipreo added nearly 2,000 tech employees to downtown in the past two years

• HQ Raleigh and American Underground are home to a combined 100+ startups

• Number of startups at HQ Raleigh has grown over 133% since 2012

• Ultra-fast internet service with Google Fiber and AT&T U-verse with Gigapower providing competitive advantage

• New tech jobs average approximately $75,000 a year in salary, bringing jobs and more business for downtown restaurants and retail

Downtown is not only home to large firms, but also has a vibrant startup culture housed in incubators like HQ Raleigh and American Underground, along with downtown’s historic and unique lofts and warehouses. HQ Raleigh and American Underground are home to over 100 startup companies and provide access to shared resources, collaboration and provide the type of flexible leases needed for new startups.

Renowned startup American Underground expanded its footprint to downtown Raleigh in early 2014 with a 5,300 square foot location on Fayetteville Street, anchored by Bandwidth Labs. The hub was named as one of nine “Google for Entrepreneurs” tech hubs.

HQ Raleigh plans to expand by 30,000 square feet in 2016.

INNOVATION

#5 Digital City in America - Center for Digital Government,

November 2014

INCUBATORS +

"HQ Raleigh has seen incredible momentum since

moving to the Warehouse District. It has been

so exciting to see all of these original companies

come together to support each other and succeed

in downtown Raleigh, and we are looking forward

expanding our space to welcome even more

innovation and creativity." - Liz Tracy, HQ Raleigh Director of

Community Engagement

#4

city for finding a

Great Tech Job

TechRepublic, July 2014

"Downtown Raleigh boasts a great landscape that's really conducive to startup

culture - it's fast paced, highly concentrated, and has plenty of amazing drink

and food spots to help ease the never quiet brain of us entrepreneurs. In

addition it's really blossomed into a hot bed of startups from the tech space

to medical to the culinary space and most all of these companies operate

within a block or two of one another, and along side of two giant co-working

spaces that sort of bookend the downtown area. Growing and scaling a

company here costs a fraction of what it would take, in say San Francisco, and

the appeal to this area continues to increase. And while we have larger tech

companies around us like Red Hat and Citrix, downtown Raleigh feels like a

true startup hub." -Jason Miller, WedPics, Founder & President

WedPics

• Photo and video sharing app for wedding couples and guests

• Located in downtown Raleigh’s Warehouse District

• Staff of 16 and expanding• 400,000+ couples have subscribed• Reached 2.5 million users• Sells 20,000 prints per week• 15% of the U.S. market, 33% of U.K.

and 25% of Australian markets, presence in 188 countries

• Raised $4.25 million Series B funding in 2014

#2 Fastest Growth in U.S. Patents Received - U.S. Patent and Trademark

Office, June 2014

STARTUP SPOTLIGHT

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[ SOURCE: TechCrunch, December 2014 ]


NORTH CAROLINA STATE UNIVERSITY

MEREDITH COLLEGE

SHAW UNIVERSITY

WILLIAM PEACE UNIVERSITY

SAINT AUGUSTINE’S COLLEGE

CAMPBELL UNIVERSITY SCHOOL OF LAW

HIGHER EDUCATION INSTITUTIONS(within three miles of downtown) (as of Fall 2014)

TOTAL ENROLLMENT

33,989

1,885

1,638

1,076

1,064

426

TOTAL 40,078

One of the major reasons for downtown’s rising profile as a tech hub and new office development is its strong talent and employment base. Raleigh’s universities and colleges, along with other major research universities and higher education institutions in the region, help drive more jobs and companies to downtown.

TALENT

Approximately 100,000 students attend universities in the Triangle, providing cutting edge research and a well-trained workforce. In addition to the strong academic institutions near downtown, the region boasts several other prestigious universities:

• University of North Carolina at Chapel Hill: #5 Top Public University in the nation

• Duke University: #9 Overall Top University in the nation

• N.C. Central: #11 Top Historically Black Colleges and Universities

[ SOURCE: U.S. News and World Report ]

STEM | NUMBER OF GRADUATES AS A SHARE OF POPULATION (AGES 20-34)

EDUCATION | ATTAINMENT FOR POPULATION 25 YEARS+

[ SOURCE: Brookings Institute, Burning Glass ]

Downtown has a higher share of residents with bachelor and graduate degrees than the state and national proportions. 43% of downtown Raleigh residents 25 years and older have a bachelor’s degree or higher, compared to 28.47% of North Carolinians and 29.68% of Americans.

0%

20%

10%

30%

5%

25%

15%

35%

40%

Raleigh U.S.

[ SOURCE: ESRI Business Analyst, U.S. Census ]

Less than 9th Grade

Some College/No Degree

Graduate/Professional Degree

9-12th Grade/No Diploma

Associate’s Degree

High School Diploma

Bachelor’s Degree

0%

100%

60%

40%

20%

80%

Downtown Raleigh North Carolina United States

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RETAIL | 51

Downtown has seen tremendous growth in its retail base over the past four years with an increase of over 35% in new retail businesses since 2010, which is the largest growth in any storefront use for downtown. In that time, downtown has added 32 new stores still open today, nearly all of which are independent, locally-owned retailers.

RETAIL

Over the past four years, downtown has added locally-made clothes like Raleigh Denim, High Cotton, and Lumina Clothing, designer consignment clothing at Nora and Nicky’s, leather goods from Lisa Stewart Designs, children’s clothing from Nüvonivo, music at Sorry State Records, furniture at Furbish Studios and TRIG Modern, jewelry and accessories at Dogwood Collective and Moon and Lola, flip flops at Feelgoodz, new styles at Social Status, and everything funky and local at Deco Raleigh. Downtown also has added specialty in-production-style retail like Videri Chocolate Factory and Oak City Roasters, which make their products on site, in addition to having showrooms for local customers. All these stores add to mainstays like Holly

Aiken’s Stitch, vintage store Father and Son, and legendary music store Harry’s Guitar Shop.

In 2014, downtown added even more great stores, including Runologie, Ramble Supply Co., Edge of Urge, State of Beer, ABV Cocktail Supply, Honor Raleigh, Stag’s Head, and Ivivva. Additionally, downtown saw more service-based retail with Arrow Haircuts, MedFirst Medical Center, Element Beauty Bar, and SunTrust Bank among others. These new retail locations bring running shoes, yoga apparel, apothecary home goods, fashionable clothes and accessories, craft beer, cocktail supplies, haircuts, banking and medical services to downtown’s customers.

FATHER AND SON NÜVONIVO ARROW HAIRCUTS NORA AND NICKY’S

"Downtown Raleigh has this great energy right now. You can feel that it’s on the brink of some really amazing

things, from development to the creative community that surrounds it. I’ve met the most supportive people here

that are excited about the growth, and are willing to collaborate and join forces in order to build a stronger community.

This support keeps me inspired and speaks to why I chose downtown for Ramble Supply Co." – Jessie Connor, Ramble Supply Co.

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The Downtown Raleigh Alliance created the Shop Downtown Raleigh program to promote downtown as a retail destination. Participating merchants receive flags and decals to make their storefronts more noticeable.

"From a business standpoint, downtown Raleigh has a growing number of businesses, residents, and runners,

but no running specialty store, so we saw a great opportunity there. We also enjoy being downtown on a daily

basis; walking down the street for coffee at Muertos, grabbing lunch at Happy and Hale, or getting our dark

chocolate fix at Videri, amongst other great places to eat, drink, and shop. It’s just more fun to be downtown

day to day than it is to be in the traditional retail areas." –Laura Berry, Runologie

2011-2014 | PERCENTAGE OF NET GAIN IN BUSINESSES BY STOREFRONT CLASSIFICATION

35.2%

19.3%

14.3%

8.8%5%

0%Retail Bars/

NightclubsDining Personal

Services

20%

10%

25%

15%

30%

35%#4

in Metro Areas for

Economic Growth

(Raleigh)CityLab, September 2014

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[ SOURCE: DRA]

RETAIL | 53

Downtown Raleigh Gift Card: DRA launched a gift card program to keep shopping dollars local and support downtown merchants. The card can be used at over 100 participating retailers and restaurants in downtown.

Shop Downtown Raleigh: This program helps promote downtown as a shopping destination through coordinated promotions and events. Downtown retailers also participate on a committee to strategize on new efforts and address common challenges.

Storefront Inventory: DRA conducted a comprehensive survey of all downtown storefronts to identify trends in vacancies, business mix, openings, and closings. This analysis improves the targeting and recruitment of stores.

DRA RETAIL DEVELOPMENT INITIATIVES | IMPROVING DOWNTOWN’S RETAIL ENVIRONMENT

© Carolyn Scott

As downtown continues to grow, demand for more retail will attract even more retailers. According to recent analysis by HR&A Advisors, once downtown’s current development pipeline is built out, downtown residents, office workers, and visitors could provide $165 million in total future potential retail sales. An estimated $42 million

of that spending potential could be captured by downtown and support thousands of square feet of new retail. These projections demonstrate the priority to continue bringing new stores downtown and broaden the retail base to reduce sales leakage and meet the growing demand to provide more stores and services in the CBD.

As part of its role as the primary retail recruiter for the downtown services district, the Downtown Raleigh Alliance (DRA) has a number of initiatives to maintain and improve our retail base.

Downtown Raleigh App: DRA is working with a team of software developers and community leaders to develop an app, which will have parking information, along with store locations and advertising opportunities. This app will make downtown easier to navigate for shoppers and allow merchants to advertise deals and specials.

Recruiting retail prospects: DRA works to identify and connect with retail prospects and brokers to bring them to the downtown market. Our assistance includes helping identify locations, connecting with brokers and landlords, and providing resources for business planning, market data, tours, and guidance. DRA recruits a wide range of prospects from small boutiques to national retailers and grocery stores.

Pop-Up Retail: DRA is working with the Urban Design Center and other interested parties to provide pop-up tenants for vacant storefronts in order to test new retail concepts and activate empty stores.

Sharpening marketing materials and data/analytical capabilities: DRA provides client-specific recruitment materials, including data and analysis on specific markets or locations. DRA has added a more data-driven approach, including sales leakage and market share information, and comparative statistics, all of which are targeted at specific types of retailers missing from the current market.

FUTURE RETAIL DEMAND | GROWING NEED FOR MORE STORES

RETAIL

GROCERY

Total future potential retail spending by downtown residents, visitors, office workers

Future Spending Estimated to be captured by Downtown

$165 million

$49 million

$42 million

$20 million

[ SOURCE: HR&A Advisors ]

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DINING + NIGHTLIFE | 55

Downtown Raleigh has become a major food destination regionally and nationally with over 120 dining establishments providing a broad range of cuisines and experiences.

DINING + NIGHTLIFE

In 2014, one of downtown’s most prominent chefs and restaurateurs received the highest culinary award in the country with the James Beard Award for Best Chef in the Southeast going to Ashley Christensen, who owns five establishments downtown with Poole’s Diner, Beasley’s Chicken + Honey, Chuck’s, Joule Coffee & Table, and Fox Liquor Bar. Later this year, Christensen will add to her downtown empire with the opening of Death and Taxes and Bridge Club in a restored, historic building.

RYE BAR LUCETTEGRACE HAPPY AND HALE TASTY 8’S

This past year saw the addition of more local, authentic concepts like bakeries Lucettegrace, Boulted Bread, and Night Kitchen and Bakehouse; healthy fast-casual

from Happy and Hale; coffee shop, Café De Los Muertos; gourmet hot dogs from Tasty 8’s, and southern cuisine from Rye Bar and Southern Kitchen.

MOMENTUM | DOWNTOWN GAINS NEW DINING HOT SPOTS

DRA’s Downtown Raleigh Restaurant Week attracted over 16,000 diners to downtown, increased online reservations by 61% and generated nearly $300,000 in restaurant revenue.

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JAMES BEARD AWARD | ASHLEY CHRISTENSEN

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The Glenwood South District gained a new anchor restaurant when Carolina Ale House opened their new location on Glenwood Avenue in early 2015. The 37,000 square foot establishment has enough seating for up to 200 diners to enjoy.

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THE PIT MORNING TIMES ZINDA BEASLEY’S

Another acclaimed restaurant group, Empire Eats, brings thousands of visitors to downtown with a wide range of cuisines including Lebanese at Sitti, Italian at Gravy, North Carolina BBQ at The Pit, and neighborhood gathering spots at The Raleigh Times and Morning Times. Additionally, Eschelon Experiences has contributed to the revitalization of downtown through several of its restaurants, including Zinda and The Oxford on Fayetteville Street.

68 establishments feature outdoor dining connecting people with the street environment.

Downtown’s success as a dining and nightlife destination is evident in the rising food and beverage tax revenue generated downtown, which was up 10.46% in 2014 over the previous year.

Moore Square District experienced the largest year to year gain in food and beverage tax revenue with a 15.45% increase in 2014, showing new vibrancy in this rapidly growing downtown district.

[ SOURCE: Wake County Tax Assessor ] [ SOURCE: Wake County Tax Assessor ]

MOMENTUM | FOOD AND BEVERAGE TAX REVENUE: 2013 VS. 2014

GROWTH | PERCENT GAIN IN TAX REVENUE BY DISTRICT: 2013 VS. 2014

$1.3

$1.2

$1.6

$1.4

$1.7

$1.8

$1.5

2013 2014 Glenwood South

Fayetteville Street

Moore Square Warehouse

0%

8%

4%

12%

16%

2%

10%

6%

14%

18%

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DINING + NIGHTLIFE | 57

Downtown Raleigh’s nightlife has been thriving for years and has become well known in the area. It is home to craft beer breweries, such as Crank Arm, Trophy, Natty Greene’s, and Clouds; classy cocktail lounges; dive bars; and has some of the best beer bars in the country like Busy Bee Café and The Raleigh Times, according to DRAFT Magazine.

In recent months, downtown nightlife experiences have

expanded by adding two new “barcades” which combine bars with video game arcades to provide a fun experience for millennials seeking a nostalgia trip.

The Raleigh Mix is a nightlife promotion produced by DRA in the summer that brings over 20,000 patrons to downtown’s bars and clubs and saw a 55% increase in participating merchants this past year.

The New York Times, Washington Post, Wall Street Journal, Garden and Gun, Huffington Post, and Southern Living have brought national attention to downtown’s restaurant and nightlife scene.

Hospitality DistrictResidents and merchants came together in Glenwood South to form a hospitality district that includes a noise ordinance, which promotes communication and

cooperation between business owners and residents. This ordinance will help nightlife co-exist with residents and keep this district a growing and vibrant part of downtown.

NIGHTLIFE

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TOURISM | 59

Downtown Raleigh is home to some of the state’s largest attractions and events. Each year, downtown hosts millions of visitors at a diverse array of museums, festivals, music venues, and art galleries. From bluegrass to electronica, historic attractions to contemporary art, downtown Raleigh has something for every kind of visitor.

TOURISM

NC MUSEUM OF NATURAL SCIENCES

MARBLES KIDS MUSEUM/WELLS FARGO IMAX® THEATRE

RALEIGH CONVENTION CENTER

DUKE ENERGY CENTER FOR THE PERFORMING ARTS

NC MUSEUM OF HISTORY

NC STATE CAPITOL

RED HAT AMPHITHEATER

ARTSPACE

TOP DOWNTOWN ATTRACTIONS VISITORS

973,738

644,013

493,701

390,819

335,861

111,356

111,295

92,908

TOP DOWNTOWN EVENTS

Downtown Raleigh hosted over 600,000 people at over 180 outdoor festivals and events held in 2014, ranging from holiday celebrations to music festivals to art and design events. Some of downtown’s largest events include: IBMA World of Bluegrass, Capital City Bikefest, “The ‘Works” 4th of July Celebration, First Friday (monthly), WRAL Christmas Parade, First Night Raleigh, Hopscotch, Artsplosure, SPARKcon, and the African American Festival.

Downtown Raleigh hosted over 3.4 million visitors at its top 15 downtown attractions in 2014.

180

outdoor

Events and

Festivals

in downtown in 2014

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The Raleigh Convention Center (RCC) hosts thousands of tourists at 150+ conventions each year. In 2014, RCC saw a 47% increase in visitors over 2013. The 500,000 square foot state-of-the-art building is LEED certified with a 500 kilowatt solar energy system.

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SOURCES: Greater Raleigh Convention and Visitors Bureau, Red Hat Amphitheater

TOURISM | 61

Raleigh Convention CenterThe Raleigh Convention Center had a banner year with a 47% increase in visitors in 2014 versus 2013. Nearly 500,000 people attended conventions and events at the facility. Built in 2008, the convention center has:

• 500,000 total square feet• 150,000 square foot exhibit hall• 32,620 square foot ballroom• 32,600 square feet of meeting rooms• 500 kilowatt solar energy system, comprised of 2,080

panels, producing more than 725,000 kilowatt hours of electricity

IBMA World of BluegrassThe International Bluegrass Music Association (IBMA) held their annual convention in downtown Raleigh for the second year in a row. The convention and accompanying music festival brought 180,000 people to downtown, a 29% increase over the previous year’s attendance. The Greater Raleigh Convention and Visitors Bureau estimates the event created:

• $10.8 million in direct visitor spending, up 16% from 2013• Boosted area hotel rooms reserved by 15% to 23,000• Brought an estimated 88,000 attendees from outside

Wake County, up 5% from previous year

Largest event in Raleigh’s history: 180,000 attendees for IBMA World of Bluegrass festival with 29% increase over 2013

HotelsDowntown Raleigh hotels improved in every metric in 2014, demonstrating a growing visitor base and increasing demand for hotels in Raleigh’s CBD. Furthermore, downtown’s hotel market growth outperformed Wake County as a whole, according to STR Global.

• Downtown has 1,127 hotel rooms• Hotel room occupancy: 67.6%, up 11.2% over 2013• Average daily room rate was $136.33, up 7% compared to 2013• Revenue per room saw a 19% increase to $92.14 per room

Hotel Room Occupancy Growth

Average Daily Room Rate Growth

Revenue Per Room Growth

0%

10%

5%

15%

20%

2014 GROWTH | HOTEL MARKET PERFORMANCE

Downtown Raleigh Wake County

SOURCE: STR Global, News and Observer

Note: Applies to four hotels: Marriott, Sheraton, Holiday Inn, and Hampton Inn, which comprise 95% (1,072 rooms) in downtown market.

11.2%

increase in

Hotel Room

Occupancy

over 2013

ARTS + CULTURE | 63

ARTS + CULTURE

The arts and cultural sector is an important economic driver for downtown and the city, as the arts generate $143.5 million in economic activity in Raleigh, which supports 5,699 full-time jobs and creates $109.3 million in household income for residents in the region.¹ Downtown is home to a wide range of institutions,

venues, and organizations from the Contemporary Art Museum and Mahler Fine Art Gallery to events such as Artsplosure and SPARKcon to performance venues like The Lincoln Theatre and Duke Energy Center for the Performing Arts. All of these bring energy and vitality to downtown and Raleigh.

In recent years, downtown Raleigh has emerged as a destination for live music with festivals, large outdoor shows, concert halls and theaters, along with intimate clubs all over downtown. The area is home to a range of venues from the Duke Energy Center for the Performing Arts, which contains four different theaters and auditoriums to the outdoor venue Red Hat Amphitheater, which hosts thousands of visitors each year to concerts from nationally-renowned acts. Downtown also has a strong stable of smaller music venues, including The Lincoln Theatre, The Pour House Music Hall, Kings, Southland Ballroom, Slim’s Downtown, Deep South The Bar, Tir na nOg, C. Grace, and others. Any night of the week, music fans can find everything from hip hop to heavy metal to experimental electronica, jazz, and rock and roll.

Downtown Raleigh also hosts some of the premiere music festivals in the region. In addition to the massively successful and well-attended IBMA World of Bluegrass festival, Hopscotch Music Festival brings thousands of music fans downtown every year for three days to see over 140 bands, including

experimental and underground artists, at venues across downtown. Additionally, 40% of performers at Hopscotch are from the state of North Carolina.

Hopscotch Music Festival was named one of Rolling Stone magazine’s “Must-See Music Festivals in 2014.”

Other festivals include the Oak City 7 and Pickin’ in the Plaza, both of which are located on City Plaza, and alternate every Thursday in the summer. Many other festivals, such as Artsplosure and SPARKcon, take place downtown and provide exposure for the Triangle’s strong and diverse local music scene.

Downtown Raleigh is also home to an emerging music scene of its own. Local band American Aquarium hosted its new record release shows over two sold-out nights at The Lincoln Theatre and created a map on social media of the band’s favorite restaurants and bars in downtown. The new record was streamed online at Wall Street Journal and received critical praise.

Downtown Raleigh is a center of arts and culture for the city and region with over 40 art galleries and arts organizations, entertainment venues and performance groups based in downtown. The arts and culture community has been a driving force in downtown’s revitalization, bringing thousands of people to downtown and providing a diverse and unique dynamic to downtown Raleigh.

MUSIC

The arts generate $143.5 million in economic activity, supporting 5,699 full-time jobs and creating $109.3 million in household income for local residents.

¹ Arts and Economic Prosperity IV: The Economic Impact of Nonprofit Arts and Culture Organizations and Their Audiences in the City of Raleigh, North Carolina, 2013

Local circus arts company Cirque de Vol performs in the Lichtin Plaza area in front of the Duke Energy Center for the Performing Arts.

¹

"Raleigh is one of the first things our fans think about when they think about the

band. Every night, every show, we start off by saying "We're American Aquarium

from Raleigh, North Carolina.” I've lived downtown for seven years now and have

really enjoyed becoming a part of such a diverse community. Whether it’s the

food, the bar scene, or the museums, there is always something to do."

- BJ Barham, American Aquarium

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ARTS + CULTURE | 65

Anchoring the southern end of Fayetteville Street, the Duke Energy Center for the Performing Arts hosted 600 events in 2014 with nearly 400,000 attendees. Combining the historic Raleigh Memorial Auditorium with three modern venues, the center hosted everything from bluegrass and pop music to Broadway and ballet. This facility includes:

• Meymandi Concert Hall: 81,000 square feet, 1,750 seats• Raleigh Memorial Auditorium: 88,000 square feet, 2,251

seats• Fletcher Opera Theater: 36,000 square feet, 600 seats• Kennedy Theater: Experimental Theater, 170 seats

In 2015, the performing arts center will receive $10 million in upgrades and renovations such as new lighting, rebuilt concessions area, safety systems, and new paint throughout the building, as part of an ongoing $17.7 million renovation plan, which began last year.

North Carolina TheatreBased at the Duke Energy Center for the Performing Arts, the Theatre seeks to build community and interest in the arts through high-quality theatre productions with both local and national talent.

North Carolina SymphonyFounded in 1932, the North Carolina Symphony is a full time, professional orchestra with a reputation for innovative programming and collaborative projects. Based at Meymandi Concert Hall at the Duke Energy Center for the Performing Arts, the NC Symphony performs 175 shows a year throughout the state and provides an extensive educational program to children all over North Carolina.

Carolina BalletCarolina Ballet has staged over 80 world premiere ballets, toured internationally, and performs frequently at the Duke Energy Center for the Performing Arts. The company performs a broad array of ballet from newly commissioned works to traditional classics.

North Carolina OperaDedicated to presenting high-level operatic performances to the Triangle, North Carolina Opera brings international level artists to downtown Raleigh through a wide-ranging repertoire from Mozart to Philip Glass.

Opened in 2010 and located in the heart of downtown, Red Hat Amphitheater stands out among outdoor venues in the region due to its stunning skyline views and location among all the restaurants and nightlife in downtown Raleigh. The venue hosted over 111,000

visitors last year at 33 events between April and October, which included nationally known touring acts like Beck, John Legend, Widespread Panic, Ray LaMontagne, and Counting Crows, among many others.

RED HAT

DUKE ENERGY CENTER FOR

THE PERFORMING ARTS

AMPHITHEATER

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ARTS + CULTURE | 67

CAM Raleigh (Contemporary Art Museum)Opened in a spectacular space in 2011 and located in a renovated warehouse in the Warehouse District, CAM Raleigh exhibits works in emerging and new areas of art with the goal of stimulating creative thinking in the community. CAM Raleigh shows works in a wide variety of mediums that both educate and challenge visitors.

SPARKconStarted as a grassroots initiative, SPARKcon is a three-day interdisciplinary festival of art, design, music, film, fashion, poetry, food, theatre, and ideas, which is meant to support emerging artists and creative movements. The annual celebration has showcased the cultural richness of downtown since 2006.

OF THE ARTS

A SAMPLING

First Friday Gallery WalkA staple of downtown for more than two decades now, over 15,000 people come downtown on the first Friday of each month to sample downtown’s art galleries, museums, stores and alternative art studios, many of which stay open late for attendees.

ArtsplosureSince its first festival in 1980, Artsplosure has presented numerous festivals and outdoor programs featuring thousands of established or emerging visual, performing, and interdisciplinary artists with the goals of bringing recognition and exposure to a wide range of artists and continuing to elevate the arts community of Raleigh.

Raleigh Arts PlanIn 2014, the City of Raleigh began a process for creating a 10-year community plan to strengthen the arts and culture in the city. The purpose of the plan is to articulate a shared vision and goals for improving the cultural life of the community, including increasing support and participation in the arts, as well as nurturing creativity and opportunities to live creatively in Raleigh. The plan is currently in development after an extensive public engagement process and will be prepared for review by the public and adoption by Raleigh City Council later this year.

#3 Best Up and Coming Cities for Art and Culture - Women’s Health, September 2014

CONNECTIVITY + SUSTAINABILITY | 69

CONNECTIVITY + SUSTAINABILITYDowntown Raleigh is becoming a center for connectivity and sustainability in the Triangle. Downtown is the most walkable part of the Triangle and includes a transportation network with over 30 bus routes and train service with a new multi-modal station breaking ground this year. New buildings in downtown are receiving LEED certification, which makes them more environmentally friendly and energy efficient, while Raleigh is becoming a leader in solar panel usage. More parks and greenspace in downtown are being planned or renovated. Plus, downtown is home to a growing local food and urban farm movement, which helps make downtown a more sustainable and healthier community.

Downtown is the hub for Raleigh’s transportation system. Moore Square Transit Center accounts for approximately 28% of all weekday boardings/alightings in the GoRaleigh (formerly CAT) system. Each pillar in this graphic shows the total weekday trips by person passing by each individual block of downtown to give a sense of downtown's transit accessibility.¹

Urban farm startup Raleigh City Farm planted rows of arugula in the spring as part of downtown’s emerging local food movement. This community-supported farm grows food and encourages new urban farms and farm entrepreneurs.

RIDERSHIP | BUS TRIPS BY BLOCK

¹Capital Area Transit Short Range Transit Plan 2012, Graphic by Ian Hamilton

Moore Square

Capital

Fayetteville Street

Warehouse

Glenwood South

BikingDowntown Raleigh’s bike infrastructure has increased considerably over the past few years with more bike lanes, racks and corrals being constructed. Downtown now has 135 bike racks with capacity for 460 bikes. New bike lanes are being constructed throughout downtown, as part of projects like the Blount and Person Street corridor improvements. Other improvements include the Art to Heart corridor, which connects downtown to the North Carolina Museum of Art and current consideration of a Bike Share program, which would feature stations throughout downtown and has been deemed feasible by a recent study.²

ParkingDowntown has more than 35,000 parking spaces spread across decks, surface lots and streets with a 60% average occupancy rate during weekdays in downtown’s parking garages. Downtown Raleigh’s monthly parking rate is 36% below the U.S. national average, according to a 2012 report. Nightlife in downtown benefits from 8,200 free parking spaces in city-owned decks in addition to 1,200 spaces on the street, which are free after 5pm and on weekends. Coming later in 2015, a downtown app will help direct drivers to available decks and improve efficiency in finding parking downtown.

• Over 30 bus routes connecting to other parts of the city, county, and region

• The R-LINE: downtown’s free circulator service, which features hybrid buses that connect all of downtown’s districts, had over 250,000 riders in 2014¹

• Amtrak passenger train service to other cities in the state, region, and U.S.

• 35,000 parking spaces to handle large crowds, residents, workers, and visitors

Downtown Raleigh is a transportation hub for the region, moving thousands of residents, visitors, and employees every year. Public transit, street infrastructure, bike lanes, extensive sidewalks, charging stations, and thousands of parking spots allow for residents and visitors to access downtown in numerous ways. Downtown Raleigh is poised to continue to improve its accessibility and mobility

with new investments in a multi-modal station, corridor improvements, additional bike lanes, conversion of one-way streets, and the potential for increased mass transit in the future through the Wake County Transit Plan. With the existing infrastructure and new investments, downtown Raleigh will become a gateway for transportation at a local, regional, and national level.

TRANSPORTATION HUB

Over 250,000 riders took advantage of the R-LINE in 2014, downtown’s FREE circulator featuring hybrid buses.

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¹City of Raleigh ²Colliers International, Central Business District Parking Rate Survey 2012

¹


WalkabilityDowntown Raleigh is the most walkable area in the Triangle, where residents, employees, and visitors can easily access transit, restaurants, nightlife, services, retail, and destinations all while on foot. The city is continuing improvements in ADA compliant curb ramps and pedestrian signals throughout downtown. Downtown Raleigh’s average walk score is more than 55 points higher than the Triangle average. The region’s three largest downtowns are highly walkable and provide access to offices, stores, restaurants, nightlife, and transit all on foot.

DrivingDowntown is located at the intersection of 10 major city-wide arterial streets, which makes downtown accessible from every direction. I-40 runs south of downtown, while major streets quickly carry traffic out of the central business district. The state is moving forward on a massive reshaping of downtown’s northern gateway with replacements of bridges and interchanges along Capital Boulevard at Peace Street and Wade Avenue, which should ease rush-hour traffic and improve automobile flow through the area.

FlyingDowntown Raleigh is served by Raleigh-Durham International airport (RDU) with 400 flights daily on eight major airlines to nearly 40 non-stop destinations. Located just 20 minutes from downtown, the airport offers nonstop service to London, San Francisco, Los Angeles, Miami, Atlanta, Chicago, New York, and Washington, along with many other cities.

WALK SCORE | DOWNTOWN RALEIGH HIGHEST IN TRIANGLE REGION

DOWNTOWN RALEIGH

85

DOWNTOWN DURHAM

76

DOWNTOWN CHAPEL HILL

78

SOURCE: walkscore.com. Average of each community and downtowns (or corresponding zip codes), based on Walk Score’s criteria of walkability and access.

AVERAGE OF CITIES IN

TRIANGLE

28

WEST STATION ENTRY


Downtown’s connectivity and transportation infrastructure will continue to improve through major investments over the next few years:

Raleigh Union StationConstruction is set to begin in 2015 on Raleigh Union Station, which is a $79.8 million multi-modal station that will host bus and train service and possible additional mass transit and high speed rail in the future.

Wake County Transit PlanCitizens and leaders in Wake County are discussing possible enhancements to mass transit, as the county expects to welcome substantial population growth over the next two decades. The Wake County Transit Choices Report, authored by Jarret Walker & Associates and Kimley-Horn & Associates, provided some context and assessment of Wake County’s current infrastructure and potential needs. Over the past few months, consultants have developed corridor analysis, governance framework, financing models, investment strategies, and tradeoffs for various transit alternatives, which will be unveiled and discussed publicly in spring 2015 with the goal of a recommendation for transit coming later in the year.

Blount Street/Person Street Corridor PlanThese heavily trafficked corridors will receive new bicycle lanes, reconfigured on-street parking, altered intersections and traffic flow, and other streetscape improvements to make these streets more attractive to all users.

Peace Street/Wade Avenue Bridge Replacements on Capital BoulevardNC Department of Transportation will replace bridges on Capital Boulevard at Peace Street and Wade Avenue, as well as reconfigure those interchanges. This project is estimated to cost between $40-$74 million and start with property acquisition in 2015 and construction in 2016.

Bike ShareThe City of Raleigh is exploring the feasibility of bringing a bike share system to Raleigh, which would include stations throughout downtown for short-term bicycle use, as well as connecting downtown with other parts of the city. The city is currently examining various funding and implementation options to determine the best plan for Raleigh.

Conversion of One-Way StreetsSeveral streets in downtown are being converted from one-way to two-way traffic, which reduces confusion for drivers, increases safety for pedestrians, and improves visibility and access for storefront businesses. Lenoir and South streets are currently being converted with city leaders considering future conversion of Jones and Lane streets.

Downtown AppDRA, the City of Raleigh, and other partners are currently working on a downtown app, which could provide parking maps and help improve parking accessibility in downtown to make downtown an even more attractive destination.

INVESTMENTS + INITIATIVES

FUTURE TRANSPORTATION

Parks and Greenspace:

Downtown Raleigh has a strong system of parks and greenspace, which is being enhanced with renovations and new parks in the near future. The downtown area’s park space includes historic squares, an expansive mall, recreation fields, and a greenway.

• Over 100 acres of public park space within one mile of downtown

• 10 parks within one mile of downtown• 110 miles of greenway in Raleigh

The future of downtown’s greenspace is bright with projects already underway and more planned in the Downtown Experience Plan:

• Moore Square Renovation: A $12.5 million renovation of one of Raleigh’s original, historic squares, which will provide a world-class public space for downtown. Construction begins in 2016.

• Market and Exchange Plazas Renovation: $2 million renovation of two plazas connecting Fayetteville and Wilmington streets to provide small areas of rest in the bustle of downtown’s core with construction expected to begin in 2015.

• Devereux Meadows: A future park planned for a flood basin on the northern end of downtown, which will provide much-needed greenspace near the growing Glenwood South District.

• Chavis Park Renovation: Located just east of downtown, this 28 acre park, featuring a carousel, swimming pool, nature trail, and athletic field, will receive a $12.5 million renovation.

• Dorothea Dix Park: The City of Raleigh and state of North Carolina have reached a preliminary agreement for the city to purchase 308 acres of the former Dorothea Dix psychiatric hospital campus on the southern end of downtown, which would provide the city and downtown with a destination park.

Downtown Raleigh is becoming a leader in sustainability. In addition to walkability and transit, downtown boasts a substantial amount of greenspace, numerous energy efficiency initiatives, and a growing urban food system movement.

SUSTAINABILITY

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Green Space

Greenway or On-street Bicycle Link

Plaza Museum or other Civic BuildingCampus

Creek

ON THE MAP | GREEN AND CIVIC SPACE NETWORK

SOURCES: Sasaki Associates, City of Raleigh

FRED FLETCHER

PARK

PULLENPARK

DIX SPORTS FIELDS

CHAVIS PARK

CITY CEMETERY

OAKWOOD CEMETERY

RALEIGHCITY FARM

FUTURE DEVEREUX MEADOWS

HALIFAX COMMUNITY

CENTER & PARK

MORDECAI HISTORIC

PARK

HALIFAX MALL

MARBLES KIDS MUSEUM

MOORE SQUARE

CITY PLAZA

RED HAT AMPHITHEATER

NASH SQUARE

LENOIR ST PARK

CAM

DUKE ENERGY CENTER FOR THE

PERFORMING ARTS

NC MUSEUM OF HISTORY

NC MUSEUM OF NATURAL SCIENCES


Energy

• LEED Certification: Numerous new buildings in downtown are being constructed to LEED standards, such as the Citrix building which received LEED Gold certification and Charter Square, which will be LEED Platinum. These buildings will be more environmentally friendly and energy efficient.

• Solar: Raleigh is becoming a leader in solar panel installation and was recently ranked one of the top 20 solar cities in the country based on capacity and installation.¹

• Charging Stations: Downtown Raleigh is a leader in electric vehicle infrastructure with 11 public charging stations located throughout downtown, which offset CO2 emissions and reduces gasoline use.

Urban Food SystemDowntown Raleigh is home to an emerging local food and urban farm movement. Food security and access to fresh food is an important aspect of building a true live-work-play community in downtown and helps residents remain healthy and connected to the land. In addition to public health benefits, local food systems and urban farms and gardens have economic impacts, which make downtown neighborhoods more attractive places to live.

Downtown is home to several educational gardens at locations like Marbles Kids Museum and Moore Square Magnet Middle School. Additionally, three farmers markets take place in downtown with several more nearby, providing access to fresh produce for downtown residents and workers. Numerous other efforts are underway by groups like Community Food Lab and many others to improve the local food system by providing fresh food to underprivileged populations, mapping edibles, and teaching residents about farms and gardens.

Raleigh City FarmThe Raleigh City Farm is an urban farm startup in downtown Raleigh and an anchor of downtown’s emerging local food movement. This community-supported farm grows food and encourages new urban farms and farm entrepreneurs, as part of improving access to fresh food and small-scale urban agriculture for downtown residents. Produce from this farm is purchased and used by local restaurants in downtown, as well as sold directly to neighbors and residents through a Community Supported Agriculture (CSA) farmshare, a farmers market, and farm stand. Raleigh City Farm also helps rural farms access the downtown market by helping sell their products, thus, improving urban-rural food connections and access to even more fresh food. The farm has contributed to the revitalization of the nearby Person Street Plaza and surrounding neighborhood, which was named by USA Today as one of the “10 Best Up and Coming Neighborhoods around the U.S.”

Raleigh Food CorridorThis initiative attempts to build off the local food cluster emerging in a two-mile stretch along the east side of downtown. The goal is to engage the community and create a dialogue about building a dense food system in downtown, which can bring food security, economic development, and public health benefits to the downtown community.

Raleigh Downtown Farmers MarketEach Wednesday from May-September, DRA brings the Raleigh Downtown Farmers Market to City Plaza in the heart of downtown, featuring over 30 vendors selling fresh produce and locally made goods. On average, over 3,000 people attend the Market every week to take a break from work and enjoy the festive atmosphere and support local farms and businesses.

ENERGY +

FOOD SYSTEMS

¹ Environment North Carolina, “Shining Cities: At the Forefront of America’s Solar Energy Revolution”, April 2014.

DRA IMPACT | 79

DRA IMPACTThe Downtown Raleigh Alliance (DRA) has established a strong track record for positioning downtown as an economic engine for the city. As stated in the DRA mission, we provide services on a day-to-day basis that have both a short-term and long-term impact on downtown’s revitalization. The services include: Safety, Hospitality, and Clean Ambassadors; Strategic Branding and Community Communications; Special Events Production; Retail Attraction and Merchant Promotions; Strategic Partnerships and Stakeholder Engagement; and Strategic Planning.

A clean and safe downtown attracts more investors, enhances the image of the entire city and plays a major role in revitalization. DRA utilizes 36% of its overall budget to fund the Clean and Safe Ambassador Program.

The Ambassador Clean Team contributes by picking up litter, removing graffiti, and performing special maintenance projects. In 2014, DRA purchased two clean machines and added Sunday cleaning services.

The Ambassador Safety Team creates positive experiences for downtown Raleigh visitors and residents. The team serves as the additional eyes and ears for the City of Raleigh police in downtown by patrolling streets and sidewalks seven days a week. They also act as safety escorts and provide directions to visitors. The ambassadors also address quality of life issues, such as deterring aggressive panhandling, and providing parking deck security.

25,140 pounds of trash removed by the new Clean Machines alone in just

four months in 2014

equals the weight of

2 adult male elephants

Safety Ambassadors

spent 7,000+ hours patrolling nine parking decks

and four surface lots in 2014

According to the Downtown Raleigh Stakeholder Perception Survey, over 77% of stakeholders find downtown clean and over 84% of stakeholders find downtown safe.

Downtown Raleigh’s Clean & Safe Program

In 2014, the DRA Board of Directors approved an increase in funding towards the clean program to purchase new clean machines and add ambassadors to provide Sunday cleaning services for the first time in the program’s history. These changes demonstrate the Clean Team’s dedication to keeping up with our growing downtown.

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RALEIGH MIX

DOWNTOWN RALEIGH MOVIE SERIES RALEIGH WINTERFEST

ANNUAL MEETING

MEET DOWNTOWN RALEIGH DOWNTOWN FARMERS MARKET

RALEIGH WINTERFEST

DRA IMPACT | 81

An Attractive Downtown• 69,520 pounds of trash removed by the Ambassador

Clean Team and the clean machines combined• 170% increase in trash pickup with new clean machines• 140% increase in number of blocks cleaned

A Friendly Downtown• 7,000+ hours patrolling nine parking decks and four

surface lots• 5,400+ hospitality assists • 1,639 safety escorts provided

A Vibrant Downtown• 5 major merchant programs to promote downtown

merchants (First Friday Raleigh Art Gallery Walk, Downtown Raleigh Gift Card, Downtown Raleigh Restaurant Week, Shop Downtown Raleigh, and Raleigh Mix)

• 80% of downtown merchants participate in at least one of the five programs

• 1,686 gift cards sold to downtown supporters

An Engaging Downtown• 8,600,000 pageviews on DRA websites • 67,784 social media followers • 16,000 subscribers for DRA e-newsletters

A Memorable Downtown• 150,000+ visitors attended DRA Outdoor Events (Raleigh

Winterfest, Downtown Raleigh Movie Series and Raleigh Downtown Farmers Market)

• 18,000+ ice skaters visited the downtown Ice Rink • $200,000+ in vendor sales on local agriculture and artisan

food products at the Raleigh Downtown Farmers Market

A Prosperous Downtown• 36 street-level businesses opened• 95% of new businesses are locally owned and

independent• 35% increase in soft goods and specialty gift retailers

since 2010

A Connected Downtown• 431 dues-paying members • 1,850+ attendees at networking events• 12 grand-opening ribbon cutting ceremonies

A Collaborative Downtown• 4 downtown districts benefited from DRA community

organizing initiatives • 6 downtown events and programs sponsored by DRA• 14 downtown events and programs benefited from

tailored promotions from DRA

2014-2015 COMBINED BUDGETED EXPENSES 2014-2015 COMBINED BUDGETED REVENUES

Safety, Hospitality + Clean (SH)Advocacy + Operations (AO)Special Events Production (SE)Retail Attraction + Merchant Programs (RA)Strategic Branding + Community Communications (SB)Strategic Partnerships + Stakeholder Engagement (SP)

Property Assessment (PA)Fee for Service (FS)Corporate Sponsorships (CS)Member Dues (MD)

36% SH

10% SE

9% RA

7% SB

6% SP

50% PA

26% FS

19% CS

5% MD

32% AO

2014 IMPACT

Mary-Ann Baldwin (Ex-Officio)City of Raleigh

Pam Blondin Deco Raleigh

Clymer Cease, Jr.Clark Nexsen

Ashley ChristensenAC Restaurants

Marty ClaytonDuke Energy

Leon CoxSheraton Raleigh Hotel

Sally EdwardsMarbles Kids Museum/IMAX Theatre

Gaddis FaulconShaw University

Sue GlennonHampton Inn & Suites Hotel at Glenwood South

Ruffin Hall (Ex-Officio)City of Raleigh

Jim HartmannWake County

Kathy HigginsBlue Cross and Blue Shield of NC

Andy HollandWells Fargo Bank

Chad T. LefterisRex Healthcare

J. Rich LeonardCampbell University School of Law

D. O’Hara MackenIpreo

David MeekerDowntown Raleigh Resident, West at North Condominiums

Sarah PowersVisual Art Exchange

Gregg SandreuterHamilton Merritt

Harvey Schmitt (Ex-Officio)Greater Raleigh Chamber of Commerce

Nate SpilkerCitrix

Josh Stein (Ex-Officio)NC General Assembly

Andrew StewartEmpire Properties

Anthony Tata (Ex-Officio)NC Department of Transportation

Caroline F. WelchWTVD-TV/ABC 11

Jean Carroll Special Events Coordinator

Roxanne CoffeyOffice Manager

David A. DiazPresident + CEO

Kimberley JonesAssistant to the President

Bill KingPlanning + Development Manager Carla LairdMarketing + Communications Manager

Lacie LindstaedtDirector of Communications + Membership

Ashley Melville Merchant Benefits Manager

Stacey SimeoneGraphic Designer

Stephanie WilserBookkeeper

OFFICERS + EXECUTIVE COMMITTEE BOARD OF DIRECTORS ACKNOWLEDGEMENTS

American AquariumAmerican UndergroundAmericans for the ArtsArtsplosureAvison YoungCampbell University School of LawCapital Area Metropolitan Planning OrganizationCapital Area Transit AuthorityCarolina BalletCBREChris Mears, State of North CarolinaCirque de VolCitrix Systems, Inc.City of Raleigh: Planning & Development; Urban Design Center; Parks and Recreation; Public Works; Office of Sustainability; Office of

Transportation and PlanningColliers International David Langley, City of RaleighDavid MeekerDowntown Living AdvocatesDowntown Raleigh AllianceDTZ AmericasDun and BradstreetErin White, Community Food LabESRIGrant Meacci, City of RaleighGreater Raleigh Chamber of CommerceGreater Raleigh Convention and Visitors BureauHibernianHQ RaleighIan HamiltonIntegra Realty ResourcesIpreoJDavis ArchitectsJLLJulie Brackenbury, Greater Raleigh Convention and Visitors BureauKelly Maness, Greater Raleigh Chamber of CommerceKweliaKyle Vangel, HR&A AdvisorsLoren Gold, Greater Raleigh Convention and Visitors BureauM. Scott Smith, Integra Realty ResourcesMarcus Kinrade, Wake County Revenue DirectorMcClatchy InteractiveNews & ObserverNorth Carolina OperaNorth Carolina TheatreRaleigh City FarmRaleigh Convention CenterRaleigh-Durham Airport AuthoritySasaki AssociatesShaw UniversitySTR GlobalState of North Carolina Office of State Human ResourcesTaylor Traversari, Red Hat AmphitheaterTech CrunchTriangle Business JournalTricia Hasch, City of RaleighU.S. Bureau of Labor Statistics U.S. Census BureauWake County: GIS, Revenue DepartmentWalk ScoreWalletHub

Graphic Design: Stacey Simeone

For errata visit: www.YouRHere.com

Rebecca Quinn-WolfChairPNC

Jason SmithTreasurer/Chair-Elect18 Seaboard Restaurant

Thomas S. Hill IIIImmediate Past ChairHighwoods Properties Sharon Moe SecretaryNorth State Bank

Joseph “Bo” Dempster, Jr. Legal CounselPoyner Spruill

Jill Wells HeathAt-LargeMulkey Engineers & Consultants

Jon Wilson At-LargeKimley-Horn and Associates, Inc.

David A. Diaz (Ex-Officio)President + CEO Downtown Raleigh Alliance

DRA BOARD

DRA STAFF

ARTS + CULTURE | 83

DRA MISSION

The Downtown Raleigh Alliance is an award-winning nonprofit organization whose mission is to continue the revitalization of Raleigh’s downtown by enhancing its quality of life and contributing to its economic success. On a day-to-day basis, DRA provides six core services that have a short-term and long-term impact on downtown:

1. SAFETY, HOSPITALITY + CLEAN AMBASSADORS

2. STRATEGIC BRANDING + COMMUNITY COMMUNICATIONS

3. SPECIAL EVENTS PRODUCTION

4. RETAIL ATTRACTION + MERCHANT PROMOTIONS

5. STRATEGIC PARTNERSHIPS + STAKEHOLDER ENGAGEMENT

6. STRATEGIC PLANNING

PRODUCED BY:

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120 S Wilmington Street, Suite 103 • Raleigh, NC 27601 • www.YouRHere.com • [email protected] • 919.832.1231

state of downtown raleigh 2015

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