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Hurricanes Building $1B Sports and Entertainment District
The NHL Carolina Hurricanes have been granted approval by the Raleigh City Council to develop a sports and entertainment center at the Lenovo Center arena site.
The approval will allow the team to build new hotels, restaurants, apartment buildings, office space and parking decks on 80 adjacent acres. If desired, the team could build up to 40 stories.
The Triangle Business Journal reports that the project, at full completion, is expected to cost more than $1 billion.
The team’s development company intends to start work on the first phase of the project in late 2025. Officials have said phase one of the project will include:
- more than 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
Along with what’s happening around the arena, a $300 million upgrade is planned for the Lenovo Center.
- ◦Development
