"You probably know a couple of people who came here for a tournament or came here for a game or came here in some form or fashion and said, 'man, what a great place to live'. And then they stay here," said Bill Zadeits, owner and partner with S&A Cherokee.
According to US Census Bureau Data, from April 2020 to July 2024, Wake County was the third-fastest growing county of at least one million residents in the country.
"We're in the right place at the right time," said Zadeits.
"A rising tide floats all boats. The real estate landscape obviously affects hospitality. Hospitality affects Parks and Rec., the airport affects transportation and health care affects all of us throughout the region," added John Powell, managing director with SVN Raleigh.
The broader region has also benefitted from growth in Wake County, with surrounding counties experiencing increased attention from both those looking to move in and companies making large-scale investments.
"The neighboring counties like Johnston County, Wilson County, Wayne County, and even down south of us into Moore County, all of those benefit from the growth right here in the Triangle. Some of those markets are even perhaps a little bit hotter right now than even our local market," said Powell.
US Census Bureau estimates state that between April 2020 and July 2023, 52% of Wake County's population growth was a result of people 55 years old and older.
"It's beds, yes but so much care can be delivered on an outpatient basis as we move to create access closer to where people live. Primary care, specialty care, post-acute care, mental health care, as well as making sure that as this community grows, you have the team members that are able to deliver that care," said Donald Gintzig, president and CEO of WakeMed.
While the region has earned praise for its medical facilities, independent providers are feeling challenges.
"Our medical sector, a lot of the doctors, they want to own their space. There is nothing for sale. And so medical space is very limited," said Powell.
With a fast-growing population comes a desire to increase entertainment options, one of which could be a MLB team. The city's media market, median income and weather stack up well with other potential expansion contenders. Perhaps most importantly, there is a big-name behind the push.
"(Carolina Hurricanes owner) Tom Dundon, really, really likes Raleigh, would really like to own a team, and has made clear privately and publicly to Major League Baseball that he'd be interested in owning a team and moving it Raleigh. I don't think we'd have a challenge at all in selling a season ticket base. Baseball is extremely popular here, we have a growing market. One of our bigger challenges would be the corporate sponsorship base needed to make baseball go. The economics of baseball are more challenging than the other three leagues that have salary caps to stay competitive, so that's something that we're going to have to figure out. And then finding a stadium location," said Brian Fork, CEO of Hurricanes Holdings, who compared Raleigh's bid to other potential contenders such as Charlotte and Nashville during Thursday's panel.
There have been reports that Dundon is exploring selling a stake in the Hurricanes, as he works to complete his purchase of the Portland Trailblazers. When asked about the report, Fork said he had "nothing to share".