Raleigh’s long-teased Downtown South project finally has something resembling a start line. Developer John Kane says construction on the long-planned district could begin by the end of 2026, a potential turning point for a multi-billion-dollar plan to transform the city’s southern gateway with office towers, shops, housing and a soccer-focused entertainment district south of downtown. If that timetable sticks, it would be the first firm, publicly floated start date after years of zoning battles and financing headaches.
Timeline and the stadium plan
Kane laid out the target timeline in an interview, and local coverage reports that the development is slated to feature a 12,000-to-15,000-seat soccer stadium, according to ABC11. The outlet reports that the stadium would be a joint effort with businessman Steve Malik and that the first phase of the project would focus on retail and office space. Kane told the station that the developers are working to secure financing and hope to partner with the City of Raleigh and Wake County to make the numbers work.
Who’s building it and what they’re pitching
Kane Realty is driving the masterplan; the developer’s project page outlines multiple phases that include mass-timber office buildings, new connections to the greenway and a mix of entertainment venues, according to Kane Realty. In a developers’ announcement, the team said it has brought on local partners and minority-owned firms and is framing Downtown South as a public-private initiative in order to attract private lenders and build local political support, per a press release from the developers. The district sits just south of downtown around the South Saunders and I-40 interchange, which the team argues gives the project strong regional access.
Why it’s taken so long
Financing has been the main roadblock. Axios reported that high interest rates and a cautious lending environment have left several Triangle projects without clear start dates, Downtown South included. Early public pitches touted a 20,000-seat stadium in the initial vision, while a March 2020 feasibility study by JLL evaluated a smaller and more flexible 10,000-to-12,000-seat venue, a sign that the concept has been scaled to better match market conditions, according to coverage and the feasibility work. Those studies, combined with the tighter lending climate, form the backdrop for the new year-end 2026 goal.
Public money and local pushback
Developers have said they plan to seek public assistance, including possible tax-increment grants or hospitality-tax support, to help pay for the stadium and infrastructure, although any such contribution would need approval from the city council or county commissioners. The city’s project updates lay out how major developments move through permitting and council review, and local reporting has documented residents’ worries over displacement, flooding risk and community benefits during the rezoning process, which has added friction to the planning. Those debates over public incentives and concrete guarantees for nearby neighborhoods are likely to shape what actually gets built and when…