RALEIGH — Lenovo Center, the home to the Carolina Hurricanes, Wolfpack basketball and major touring musical acts, provides the Triangle with live sports and entertainment. Now, with approval from the City of Raleigh, 80 acres surrounding the venue will transform an underutilized area into a multiuse district that will draw visitors not just for events but as a destination for living, working and entertainment.
“Right now, we’ve got about 150 nights a year where we have a ticketed event here. That leaves over 200 days a year where this place is essentially empty,” said Brian Fork, Hurricanes Holding CEO. “It’s an 80-acre impervious parking lot right on Wade Avenue, right off of I-40, centrally located. It really should be a community asset.”
The first phase of the ambitious development will include a 4,300-seat indoor concert venue.
“We are working with Live Nation and have been since the development agreement was signed earlier this summer,” Fork noted.
The venue is designed to complement existing entertainment options, including Carter-Finley Stadium, with Live Nation involved in both development and operations.
Fork described the plans as potentially “the largest economic development project in the history of Raleigh.” He highlighted the broader impact, stating it will “generate tax revenue, generate jobs and spur more hotel nights,” and attract visitors who currently drive from around the state for events.
The development is closely tied to the local NHL franchise’s long-term commitment to the region. In 2023, Tom Dundon, owner of the Carolina Hurricanes, secured the rights to develop the state-owned land around the arena as part of the deal to keep the hockey team in Raleigh through 2044. The city and Wake County agreed to spend $300 million in tourism money to improve the arena.
“The ability to do the development was key in the Hurricanes’ decision to stay here,” said Fork, who joined the Hurricanes last summer after serving as chief of staff for state Senate leader Phil Berger for the previous four years.
Community engagement has been a priority. Fork mentioned meeting with nearby Catholic high school Cardinal Gibbons and private preschool and elementary school The Raleigh school, the West Raleigh Alliance and the Umstead Coalition, a nonprofit dedicated to supporting the nearby state park. The goal is to address potential concerns, particularly around traffic management.
From an environmental perspective, Fork added, “It’s actually interesting from a regulatory environmental standpoint because it’s already an impervious surface. So, from a runoff standpoint, we’ll actually be doing a little bit better by the environment.”
The project’s phased approach will allow for careful development.
“Phase one is about a five-year process to build,” Fork explained, with subsequent phases continuing the mixed-use development. The first phase will break ground after NC State’s upcoming fall football season, focusing on parking decks, the concert venue and initial retail spaces.
Phase one of the development will include more than 200,000 square feet of entertainment and lifestyle retail, 150,000 square feet of office space, a 150-key hotel and more than 500 apartments. Additional phases will expand this variety of uses over the expected 15-year development timeline. Entertainment uses will be clustered closest to the existing arena and stadium, with housing and office uses concentrated closer to Edwards Mill Road along key access points for ease of circulation.
“We’re excited about how this can amplify the total experience, get people out here more often, earlier on game day or later after an afternoon basketball or hockey game, and make it more of an all-day or all-afternoon type of event.”
When asked about the project’s significance, Fork was characteristically measured: “We’ve got a long way to go, but it should be a game changer for the city.”
The development is expected to take 10-12 years, with each phase building on the previous one.
Construction for Phase 1 starts December 2025, with an opening by fall of 2027.
