Raleigh exceeds $1B in development since 2015

RALEIGH (WTVD) -- A new report shows downtown Raleigh has completed more than $1 billion in development since the start of 2015.

One area seeing a lot of growth is the Warehouse District. Food and beverage sales in the Warehouse District were up 52% since this time last year.

One major driver of that stat is Morgan Street Food Hall, which opened in August and is already a popular lunch destination.

New vendors continue to pursue opportunities inside Morgan Street Food Hall and construction all around the area promises to bring even more business to the area.

"Overall I want to say that the Warehouse District has about 11% of food and beverage sales tax revenue for downtown in general," Eric Swan of Downtown Raleigh Alliance said. "Glenwood South still holds the top spot there, but we see a lot of growth in the Warehouse District and there's a lot of new businesses opening in the area that are drawing people in and creating a lot of activity."

Downtown Raleigh Alliance Economic Development report shows the city's continued growth and mentions two new 20-story residential towers possibly coming to downtown.

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