Q4 2025 MARKET REPORT
Photo: looking south down Fayetteville Street Credit: Matt Robinson Raleigh Skyline
14
DOWNTOWN RALEIGH
SUMMARY AND HIGHLIGHTS: There are 14 developments under construction that will collectively deliver 611 residential units, 342 hotel rooms, and 56,500 square feet of storefront space upon completion.1 An additional 38 projects are currently in planning or have been proposed and, if completed, would deliver 6,342 residential units, 368,392 square feet of office space, 1,454 hotel rooms, and 256,124 square feet of retail.1 In 2025, Downtown Raleigh delivered 1,493 residential units across five projects, the highest total of any year on record.1 This includes the recent completion of The Ray at The Weld, which added 392 apartment units.1 Downtown Raleigh’s stabilized apartment occupancy rate is 90.3%, excluding recently completed developments.2 Downtown Raleigh recorded +149,815 square feet of net office absorption in 2025, including +17,156 square feet in Q4.3 Class A direct occupancy ended the year at 86.6%.3 Smith Anderson, the Triangle’s largest law firm, expanded its footprint at 150 Fayetteville to more than 112,000 square feet.2
DOWNTOWN RALEIGH Q4 2025 MARKET REPORT
PROJECTS UNDER CONSTRUCTION1
Q4 2025
1,493
RESIDENTIAL UNITS DELIVERED1
2025
+149,815 SF CLASS A OFFICE NET ABSORPTION3
2025
1 DRA CoStar 3 JLL *Stabilized occupancy does not include recently completed projects 2
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