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Final Downtown South Parcel Closing

December 31, 2020 - United Soccer League Championship (USL) - North Carolina FC News Release


Raleigh, NC - Today, Steve Malik, Owner and Chairman of North Carolina Football Club (NC Courage and North Carolina FC), along with Kane Realty and TradeMark Properties, have announced the closing of the final parcel of land for the proposed Downtown South District. This parcel of land was included in the Raleigh City Council's December approval to rezone the property for this district.

This parcel of land includes 44.76 acres east of S. Saunders St. and north of Interstate 40 along Penmarc Dr. and Water Works St. The property currently remains largely undeveloped and contains a mix of warehouses and small office buildings. This area, which includes the entertainment and sports venue, will serve as the core of the Downtown South district and is planned for development first, following the comprehensive community engagement process and tax increment grant negotiations in 2021. The total land acquired for this district is approximately 135 acres, some of which lies in the floodplain or floodway and will remain undeveloped. This planned "southern gateway" into downtown is one more example of how our city is continuing to grow together.

"This final announcement for the year is a significant moment for the district and the city as we move one step closer towards delivering critical infrastructure and community benefits to a widely underdeveloped area in Raleigh. This parcel of land has the potential to shape South Raleigh for generations to come," said Steve Malik, "We are looking forward to the collaborative work ahead and building the future home of our teams."

Bonner Gaylord, Managing Director of Operations for Kane Realty added, "the closing of this important parcel of land is a momentous way to end the year as we move one step closer to working on phase one of the district with the city and community stakeholders in 2021."

Billie Redmond, Founder of TradeMark Properties, part of the brokerage team closing on the land also added, "after a year since the announcement of the purchase of the other two parcels of land, this final and significant parcel is the latest domino to fall into place, moving this transformational district and all of the substantial amenities and benefits associated with it forward."

For a project overview and summary of the Downtown South district, go to visitdowntownsouth.com.


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