Thursday, April 30, 2015 12:00 PM

STATS SAY IT: DOWNTOWN RALEIGH IS SURGING

The Downtown Raleigh Alliance threw its yearly event, the State of Downtown Raleigh, on Thursday morning.

As usual, a surge of new development gave the nonprofit group plenty to talk about. DRA gets city money and provides downtown services.

The report is available at bit.ly/dtr15.

The stats

  11,000: The estimated population of downtown Raleigh and surrounding neighborhoods in 2019.

  53 percent: Downtown’s population increase since 2000.

  $700 million: The value of planned development and public projects in downtown. Compare that to an estimated $2.5 billion over the last decade.

  4.1 percent: The projected annual increase in median household income downtown for 2014-2019, compared to 2.7 percent statewide.

  About 55 percent: The share government makes up of downtown employment, followed by finance and insurance at 10 percent and tech at about 8 percent.

  The taxes on all downtown buildings: About 7.3 percent of the city government’s property tax revenues.

Challenges

A panel of speakers named some of the challenges the city will face in downtown development.

“We’ve got to make sure we have the transit infrastructure. We have to make sure we have the ordinances,” said Bill King, planning and development manager for DRA, calling for “top to bottom” preparations for growth.

Pam Blondin, owner ...

News source: http://www.newsobserver.com/news/business/real-estate-news/article19958727.html

See also: Wake Opthalmology