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Downtown Raleigh continues to attract young professionals

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The PNC Plaza as seen from City Plaza on the south end of Fayetteville Street. (Justin Quesinberry, WNCN) The PNC Plaza as seen from City Plaza on the south end of Fayetteville Street. (Justin Quesinberry, WNCN)
RALEIGH, N.C. -

Downtown Raleigh is continuing to attract more companies and younger employees, the Downtown Raleigh Alliance said Wednesday during a State of Downtown event.

The Downtown Raleigh Alliance hosted the event to provide a market analysis of Raleigh's Central Business District.

David Diaz, who moderated the event and is head of the nonprofit organization, says the area is healthy, with more than 2,000 new employees coming downtown by next year. The average age of those employees is 28, with an average income of $80,000.

Recently, a new 11-story office building was announced across from the Raleigh Marriott City Center on the City Plaza end of Fayetteville Street. The Charter Square Building has only a few confirmed tenants, but Diaz says that is not as risky as it would have been a few years ag.

"There's so much confidence in our downtown from investors, not just locals or promoters like me talking about downtown," Diaz said. "These are people that make calculated decisions [who] are saying, 'We're willing to get into the market first because we know it's coming.'"

Two buildings are also underway, plus a 23-story apartment building, which would be the highest apartment building in the area.

Diaz says the trend is for living and working to be close together in a downtown setting.

He expects another wave of growth in the next year.

Justin Quesinberry

Justin is a reporter for WNCN and a North Carolina native. He has spent the better part of the last decade covering the news in central North Carolina.  More>>

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