RALEIGH, N.C. — A groundbreaking Monday morning put a spotlight on the real-estate boom in downtown Raleigh.
- Raleigh Crossing will be on Hillsborough Street downtown
- Mixed-use development to have business, residential properties
- Phase 1 of project expected to be complete by late 2021
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It was groundbreaking day for the huge mixed-use development project Raleigh Crossing.
The project on Hillsborough Street will feature 135 apartment units and more than 160 hotel rooms.
Phase 1 is a 19-story commercial tower, set to house the new headquarters for the Raleigh-based software company Pendo, which was the first company to sign a lease with Raleigh Crossing.
"I think its a sign of the future to be a technology company rather than a bank and be the opening tenant and signature tenant for this building," Pendo CEO Todd Olson said. "It's also showing how Raleigh is changing and growing up, so it's now very much a tech hub."
Phase 1 is expected to be complete by the end of 2021.