This past year, downtown Raleigh has seen a huge wave of growth. The city appears in almost every “Top City” list for recent grads, young professionals, and families. Public and private sectors have invested in over 26 construction projects over the last two years. Downtown Raleigh is becoming the urban core of the Triangle.
Most of the business owners bringing movement to the downtown area are Millennials. Bar owner Zack Medford opened the doors to his business before the boom. “When we first opened there was pretty much nobody else on Fayetteville Street,” he said in an interview with WNCN. “There were only a couple other bars and restaurants nearby… But we decided that we really wanted to see what downtown would become.”
Medford’s risky business paid off as the city continues to build more greenways, bike paths, and a completely new entertainment complex. The city’s goal is to create a walkable environment, where you can park your car and leave it for days. Business growth has been unbelievable in the city, backed by the Research Triangle Park, where health and tech companies avoid the expensive Northeast area.
The challenge that downtown Raleigh faces is affordability and livability. The city is home to many service workers, so affordable housing is key to keeping them there. A grocery store is still needed, but this is often the last piece of the puzzle to come together after population growth. The greater area of Raleigh is an affordable area to invest in a home. So if downtown isn’t quite your thing, you can always find a place to live in the suburbs.
If you’d like to learn more about Raleigh, check out the city’s top neighborhoods, restaurants, and more here. If you have any questions about preparing for the digital mortgage process, chat with one our mortgage advisors now or call us today at 1-844-778-5626. If you’re ready to move to Raleigh and begin your digital mortgage process, get a free rate quote today.