Plans have progressed for the ambitious Downtown South project that would bring massive development below the urban core in southeast Raleigh and build the first North Carolina Football Club soccer stadium.

A significant 88-acre portion of the project’s desired 130 acres of land was purchased by its developers for a total of $19.6 million the day before Christmas Eve, according to Wake County records.

As one of the mostambitious development efforts from prominent North Hills developer John Kane of Kane Realty, its momentum stems from a partnership with NCFC owner Steve Malik. The fully completed development has been estimated at more than $1.9 billion.

“Some things that were important to Steve and John were that they did not want to disturb an existing neighborhood,” said Billie Redmond, CEO of TradeMark Properties, the Raleigh real estate firm involved with Kane Realty on the project. “We’re opening up an entire district of an area that is largely undeveloped and underutilized.”

The purchase of the first tract of land is split across both sides of the I-40 beltline next to South Saunders Street and was bought from the North Carolina Equipment Company for $11 million. The second site at the intersection of I-40 and South Wilmington Street was bought for $8.6 million from Elite Waste Services, a Raleigh waste company.

The remaining 44.5 acres of land for the proposed stadium to the right of South Saunders Street and Penmarc Drive will be purchased next year from seller Alice Penny, Redmond said.

An outdoor 20,000-seat stadium surrounded by high-rises and other private development is envisioned for the future. Developers want the stadium to hold other athletic, musical and community events beside NCFC and NC Courage matches.

Downtown South has been described by Malik as another “North Hills,” referencing the project’s proposed office, retail, hotel and apartment space. The proposal consists of 1.6 million square feet of office space, 1,200 hotel rooms, 1,750 apartments and 125,00 square feet of retail.

“TradeMark will continue working with Kane Realty on the final acquisition of the project,” Redmond said. “We’ll be involved in the community engagement aspect of the project and our role will dramatically shift. We are a 35-year-old firm that has been focused on community involvement and engagement.”

For more information on the soccer stadium — including a timeline and impact on traffic and housing — seeThe News & Observer’s FAQ.

Aaron Sánchez-Guerra

The News & Observer

(919) 297-8162

Aaron Sánchez-Guerra is a breaking news reporter for The News & Observer and previously covered business and real estate for the paper. His background includes reporting for WLRN Public Media in Miami and as a freelance journalist in Raleigh and Charlotte covering Latino communities. He is a graduate of North Carolina State University, a native Spanish speaker and was born in Mexico. You can follow his work on Twitter at @aaronsguerra.