RALEIGH, N.C. (WNCN) – A glimpse into the future of the surrounding area near the home of the Carolina Hurricanes was released on Wednesday.
Pacific Elm Properties and Gale Force Sports and Entertainment announced their plans for the Raleigh Sports and Entertainment District, the new $1 billion mixed-use development surrounding the venue that houses the Hurricanes and the North Carolina State basketball program.
According to a news release, the redevelopment of the 80-acre site, which is located off Interstate 40 and adjacent to Carter-Finley Stadium, will “provide new opportunities for shopping, dining and entertainment” all year long, as well as feature a unique outdoor setup for tailgating and programming.
“Together with the Centennial Authority, we are committed to bringing new amenities to fans and creating experiences that bring more people to the arena and stadium area and encourage them to visit early, eat, and even stay over on-site,” said Brian Fork, chief executive officer of Hurricanes Holdings, LLC. “This development is the next step toward building the premier sports and entertainment district in the country and keeping the area a regional economic driver for decades to come.”
Phase one of the development is set to 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. Meanwhile, additional phases will expand upon these various uses throughout the expected development timeline, estimated to be 15 years.
The first phase is slated to begin in December 2025 and will include an expanded plaza to complement the upcoming arena renovation. Furthermore, this stage will also feature a 600-foot promenade lined with tailgating suites, balconies and new open space for thousands of fans to gather that’s “blending time-honored traditions with state-of-the-art innovation,” project leaders said.
The new tailgating experience will be directly adjacent to a 4,300-seat music venue operated by Live Nation and part of a larger five-acre tailgating space, including the plaza between Carter-Finley Stadium and the arena, which will also receive improvements. Construction of the first phase also includes two parking garages that line either side of the tailgating experience, projected to be finished by the start of N.C. State’s football season in 2027.
“After more than two decades, we are fulfilling the creation of a world-class destination that our local and state partners expected when the Arena was opened in 1999,” said Philip Isley, chairman of the Centennial Authority. “This proposed development ensures that our Arena renovations will be enhanced by building this transformational sports and entertainment district to ensure our Arena remains a regional attraction and economic catalyst for many decades to come.”
This announcement comes days after signage dawning the name “PNC Arena” was removed from the venue. Cranes could be seen on Monday, bringing down the letters as speculation of a potential new naming rights deal continues to circulate.
The Centennial Authority, the arena’s governing body, is scheduled to hold a special meeting on Thursday. The agenda described the purpose of the meeting was to review a contract, but no other details on the nature of the contract were readily available.
Rumors of a new naming rights deal are rooted in a new video game trailer for EA Sports’ NHL 25. A screenshot from the trailer recently surfaced on social media, featuring the words “Lenovo Center” on center ice during a Carolina Hurricanes home game. However, the potential name change hasn’t been confirmed yet.
