Raleigh, NC – Parker Poe Adams & Bernstein LLP is pleased to announce that the firm represented Pacific Elm Properties in the successful rezoning of a $1 billion mixed-use project to construct a new sports and entertainment district. The district will be built around the Lenovo Center, home of the NHL’s Carolina Hurricanes. Raleigh City Council unanimously approved the zoning request during a public meeting on Tuesday, April 15 after months of public meetings and feedback from local stakeholders and neighbors.
The developer is an affiliate of the Hurricanes' owner, who obtained the rights to redevelop the area in conjunction with a 20-year commitment to keep the Hurricanes in Raleigh and millions of dollars invested in the arena’s maintenance for years to come. The rezoning allows for a new live music venue, up to 4,200 apartments, and up to 3.1 million square feet of hotel, retail, office, and food and beverage amenities. The project also allows for building heights up to 40 stories and outdoor tailgate experiences that will provide new ways for college football, basketball, and pro hockey fans to experience the space between the existing North Carolina State University Carter-Finley Stadium and the Lenovo Center. The project will become an economic driver for the region, allowing the mixed-use center to attract more visitors and residents and give fans more options to stay on site before and after games.
"The project is a rare and exciting opportunity for our region to expand its vibrant sports and entertainment scene," said Jamie Schwedler, a partner in Parker Poe’s Raleigh office who led the rezoning efforts and is the leader of the firm’s Development Services Industry Team. "The project will be competitive with other world-class complexes throughout the country."
Parker Poe attorneys advised on securing entitlements, zoning, and site plan efforts, as well as serving as local counsel on leases, development agreements, regulatory work, and related agreements. The project will take approximately 15 years to deliver. The first phase is expected to begin after the NC State football season. Parker Poe will continue to advise on various aspects of the project under Jamie’s leadership. Partners Russell Killen, Camden Betz, and associate Walker Abbott, all based in Raleigh, are also part of the project team.
About Parker Poe
Parker Poe Adams & Bernstein LLP has more than 275 lawyers in eight offices in North Carolina, South Carolina, Georgia, and Washington, DC. The firm provides legal counsel to many of the largest companies and local governments in the Southeast.
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