Pacific Elm Properties and Gale Force Sports and Entertainment have announced plans for the Raleigh Sports & Entertainment District, a new $1 billion mixed-use development surrounding the arena that hosts the Carolina Hurricanes and NC State basketball.
On Monday, Sep 23, 2024, the City of Raleigh received a rezoning request for the Raleigh Sports and Entertainment District. The request detailed a $1B development plan around the former PNC Arena, which Carolina Hurricanes owner Tom Dundon is pushing. The proposal outlines a site with four subdistricts containing:
- 4,000 residential units
- Up to 3 million square feet of non-residential space
- Buildings up to 40 stories tall
- Parking decks
- Open spaces
- Entertainment and dining areas
- Enhanced tailgating experience
Raleigh Sports and Entertainment District: Subdistricts
Arena Subdistrict
- Includes the arena and surface parking
- Plans show 20 acres for parking on the northeast side (Wade Avenue)
- The arena will undergo hundreds of millions worth of upgrades and renovations in coming years
Entertainment Subdistrict
- Covers 27 acres
- Described as the “heart of the sports and entertainment activities”
- Connects the Lenovo Center and Carter-Finley Stadium
- Building heights range from 3 to 15 stories
- Includes tailgating areas, food and beverage businesses, retail, and hotels
Mixed-Use Subdistrict
- Includes retail, residential, and office space
- Seeks 40-story heights for the 12-acre area along Edwards Mill Road
Live/Work Subdistrict
- Located along Edwards Mill Road and Wade Avenue
- Seeks 40-story heights
- Highest density of office and residential development
- Access to Interstate 40 provides “ideal visibility for a regional office campus”
The plans also include 12 acres of open space.
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Development Timeline and Details
Gale Force Sports and Entertainment, the Carolina Hurricanes’ parent company, revealed renderings for the entertainment district earlier this month. They plan to start work on the first phase in late 2025. Dallas-based Pacific Elm Properties, a real estate affiliate for Gale Force, leads the development.
The entire development has a 15-year timeline. The state of North Carolina owns the 80-acre property around the arena.
Phase one will include:
- Over 200,000 square feet of entertainment and lifestyle retail space
- 150,000 square feet of office space
- A 150-key hotel and more than 500 apartments
- Expanded plaza with a 600-foot promenade lined with tailgating suites, balconies, and open fan spaces
- Two parking garages flanking the tailgating area
The revamped tailgating scene, expected to complete for the 2027 football season, will feature luxury suites, balconies, a promenade, and a stage for live entertainment. Plans also include a 4,300-seat music venue operated by Live Nation.
Pacific Elm Properties and Gale Force Sports and Entertainment announced plans for the Raleigh Sports & Entertainment District on September 11, 2024. The 80-acre site redevelopment, located near I-40 and Carter-Finley Stadium, aims to provide new shopping, dining, and entertainment opportunities year-round. It will feature a unique outdoor area for sports tailgating and programming, catering to fans of both the Hurricanes and NC State.
Jamie Schwedler, partner at Parker Poe law firm, and Tim Walton, director of the State Property Office of the North Carolina Department of Administration, submitted the rezoning application. Kimley-Horn serves as the development team’s civil engineer.
This month, the PNC Arena became the Lenovo Center after the Centennial Authority signed a $60 million naming-rights deal with Lenovo. PNC will maintain a presence at the arena, with its name on the club and luxury seating areas.
The redevelopment forms part of a deal between Gale Force and the Centennial Authority, allowing for the transformation of the site outside the arena and extending the Carolina Hurricanes’ lease in Raleigh for at least 20 more years.
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Raleigh Sports and Entertainment District Project Factsheet
- Project Name: Raleigh Sports and Entertainment District
- Location: Around the former PNC Arena (now Lenovo Center), Raleigh, NC
- Total Investment: $1 billion
- Developer: Gale Force Sports and Entertainment (Parent company of Carolina Hurricanes)
- Lead Development Partner: Pacific Elm Properties (Dallas-based)
- Property Owner: State of North Carolina
- Total Area: 80 acres
- Rezoning Request Date: September 23, 2024
- Project Announcement Date: September 11, 2024
- Development Timeline: 15 years
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