On Wednesday, the Downtown Raleigh Alliance released its State of Downtown report — a detailed overview of downtown Raleigh's current status, highlighting growth and development. With $6.7 billion in downtown's development pipeline, the city skyline could look significantly different in the near future due to an acceleration of real estate projects.

A new visual graphic shows the downtown projects completed since 2015, projects currently or soon-to-be under construction + planned and proposed projects. The buildings will primarily house office and retail spaces, residential units, and hotels.

🏗️ Let's break down some key takeaways:

More than $4.5 billion in new construction is planned + $1.9 billion has already been invested.
According to the report, 11 multi-purpose projects are currently under construction (Think: 400H, Seaboard Station, and Park City South).
Currently, downtown's apartments are 94.9% occupied, but 8,300+ residential units are planned or under construction. This would more than double downtown's current amount (7,914 units).
Right now, more than 150,000 sqft of office space is under construction or in site preparation.
The 184,045 sqft of retail space under construction or in site preparation will soon make way for new shops and restaurants. You could call out a few under construction
More than 400 hotel rooms are under construction or in site preparation.
Two new outdoor spaces are coming soon: NC Freedom Park is under construction + the Gipson Play Plaza at Dix Park has broken ground.

The specific timelines for many of these projects are currently unknown (but stay tuned for updates).