Bill King, President & CEO, Downtown Raleigh Alliance

Invest: sat down with Bill King, president and CEO of the Downtown Raleigh Alliance, to discuss how downtown Raleigh is evolving post-pandemic, what’s driving foot traffic and small business momentum, and the priorities shaping the next chapter of growth. “We’re 90% locally owned on the storefront level,” King said, underscoring the distinct character downtown has maintained even as it adds new residents, strengthens placemaking, and invests in connectivity.

What changes have you seen in the downtown and the city over the past year, and how have they impacted your organization’s approach or operations?

The biggest change we’ve seen is the addition of residential units to downtown. We’ve been adding residential for the last decade, but we’re seeing a huge wave that started construction right after COVID, when there was a big push on building housing and a lot of financing available. Now those units are delivering.

Over the past four years, we’ve had over 3,300 units delivered to downtown, and we’ve got another 1,200 units under construction right now. That’s been great because it adds a new layer of foot traffic. Those are people shopping, eating, walking their dog, going to fitness classes, and adding eyes on the street. It’s helped downtown feel better in terms of activity throughout the week and throughout the day, and it adds more people invested in the community.

We’re also seeing cool placemaking. We lit all the trees on Fayetteville Street, which is our main street. All 88 trees are wrapped in decorative lights year-round, and it has added a great atmosphere. Fayetteville Street is doing better than it was even two years ago. Its foot traffic and sales are both up about 12% over the last two years, and we’ve added over a dozen new businesses there, so it feels like a real revival of our central corridor.

We’re also seeing other districts come up. The Seaboard Station area on our northern edge has added vibrancy, Smoky Hollow in Glenwood South has brought in fun new tenants, and the growth between downtown and Dix Park is changing that part of Raleigh. Dix Park had a big opening this year with the Gipson Play Plaza, which is a $70 million activation area. It’s brought a lot of energy, and the development between downtown and the park is accelerating.

In what ways do you see Raleigh aligning with or diverging from national trends in how downtowns are evolving?

We’re aligning with national trends by becoming much more of a neighborhood. Post-COVID, downtowns across the country are relying more on residents because hybrid work has changed office patterns. Raleigh has done a good job of adding a lot more residents in a short period of time. We’re a national leader in apartment growth post-COVID, both in units built and units absorbed, which is a big advantage.

One way we diverge is that we don’t have a lot of congestion. We’re not a traffic-heavy downtown, and we have a lot of access points, so growth has spread in a way that hasn’t created major problems yet.

We’ve also been flexible and creative on parking. We now have a free two-hour parking program in city-owned decks, where you get the first two hours free. Not many downtowns have done that, but it’s been huge for us because competitors in the region often have free parking. It helps level the playing field, and we’ve seen strong benefits.

How would you describe the overall health of the small business and retail ecosystem in downtown Raleigh?

It’s strong. We added a dozen businesses to Fayetteville Street, but this year we’ve added 85 storefront businesses to downtown, which is the most we’ve ever added in a single year. At this point, we’re several years out from the COVID churn. Now we’re not just replacing losses. We’re seeing a real net gain in storefronts.

Foot traffic is up this year, and sales are up as well, even with macro-level concerns nationally about consumer spending. We’re 90% locally owned on the storefront level. That is not common for a downtown of our size. Many chains are located in shopping center areas elsewhere in Raleigh, but downtown has a real local feel and a real Raleigh feel. That gives us unique businesses with character, which is part of what draws people in.

What work is needed to improve transportation access, pedestrian connectivity, and other mobility options downtown?

Downtown is the hub of our transit system, and the city is getting ready to start construction on its first bus rapid transit (BRT) line on the east side. That will begin with construction soon, and it’s exciting because a lot of Sun Belt cities aren’t building true mass transit. As downtown grows, it helps us get ahead of future congestion by expanding options for getting in and out.

There will be additional BRT lines built, and if I could change anything, I’d make it happen faster. There’s also the longer-term opportunity for a high-speed rail line the state is working on, although the timing is unclear. That could strengthen connections north toward Richmond and even Washington, D.C.

In the near and mid-term, the bigger opportunities are multimodal. That means continuing to build out sidewalks and bike lanes, and better connecting downtown to Raleigh’s greenway system. We have 120 miles of paved greenway, and we want it to be easier to access from downtown, particularly through potential connections toward Dix Park. It’s a long-term project, but it’s a high-impact one.

How is the Downtown Raleigh Alliance engaging with other neighborhoods to create stronger connections or shared priorities?

Raleigh is fortunate. It’s a collaborative place, and there aren’t a lot of sharp elbows between different parts of the city. There’s good communication between the other nodes of development and neighborhoods, and people understand we’re growing, so we have to do it together. You see that most clearly in transportation projects and efforts to connect places more effectively. That collaborative culture is part of why the region has been successful.

What are your top strategic priorities for Downtown Raleigh over the next three to five years?

Connecting downtown to Dix Park is a top priority. Dix Park is our signature park, but because it’s the state’s former mental health campus, it isn’t well connected to anything. Even though it’s only about a half-mile away from downtown, making that connection stronger and doing it in a big, dynamic, bold way will take time and resources. But it’s essential.

We also want to get better connected with NC State University. It’s a Tier 1 research university right here in Raleigh, and we want stronger figurative and literal connections.

Another priority is clarifying downtown’s value proposition in the office market. There are more creative, innovative firms downtown than people may realize, and we want to define the market more clearly for office tenants.

Finally, we want to strengthen the coherence of the more square area of downtown. It has historic buildings, great storefront businesses, a great park, and a big kids’ museum. The assets are there, but we want the area to feel more connected and consistent.

Is there anything we haven’t covered that you’d like to highlight?

We’re excited about continuing placemaking and using public spaces better, adding more light and color, and making downtown feel more vibrant.

We’re also looking ahead to a major set of catalytic projects coming together in the core. A 600-room Omni hotel is about to start construction at the end of Fayetteville Street, we’re building a new amphitheater to replace the old one, and we’re expanding the convention center and almost doubling its size. Those projects should be delivered over the next four years, and having the Omni hotel, amphitheater, and convention center expansion happening together in a relatively short period of time is going to be dynamic for downtown’s core and for the region’s visitor economy.