I’m a Raleigh-based agent who’s passionate about real estate, local life, and making homeownership feel easy (and fun!). Subscribe and join 2,000+ readers who get the inside scoop every week!
🚀 Raleigh’s 27-Story Rezoning, $737M Highway Build & $28B Still on the Table
Published 2 months ago • 5 min read
Happy Friday! Raleigh’s skyline is rising, its roads are stretching, and its housing story just got personal.
This week, City Council gave the green light to a 27-story tower near Smoky Hollow Park, a bold move that redefines downtown living.
Meanwhile, crews are breaking ground on the final miles of N.C. 540, the last piece of Raleigh’s 70-mile loop decades in the making.
And across the state, a surprising trend: thousands of North Carolina veterans are missing out on powerful VA loan benefits that could change their path to homeownership.
Let’s dive in! ⬇️
—Brette Davis
🎉 The Best Things to Do This Weekend in The Triangle!
Raleigh Rezoning Approved for 27-Story Tower Near Downtown
📌 Driving the news: Raleigh City Council voted 6–2 Tuesday night to approve a rezoning request for a high-rise project at the corner of Peace and West streets, just outside downtown. The decision allows buildings up to 27 stories tall near the future Smoky Hollow Park.
📌 Details:
The project spans 2.6 acres and was previously zoned for up to 12 stories.
Developers agreed to scale back from a proposed 30 stories to 27 (or 360 feet) at the front and 24 stories (or 240 feet) near the neighborhood.
The ground floor will include retail and commercial space, with market-rate apartments above.
Office space is capped at 500,000 sq ft; no surface parking is allowed next to the park.
A $1.2 million contribution will go to the city’s affordable housing fund over four payments.
📌 Why it matters: This project adds density and housing near transit and park infrastructure, boosting downtown’s resilience and appeal.
It also directs growth toward areas already positioned for it, reducing pressure on established neighborhoods.
📌 The big picture: The vote reflects Raleigh’s push to concentrate development near its urban core. Proximity to Smoky Hollow Park, a grocery store, and future bus rapid transit makes this location ideal for high-density, mixed-use housing.
📌 Between the lines: Neighborhood opposition focused on building height, shade, and rising rents. Glenwood-Brooklyn residents say the development clashes with the city’s promise of “thoughtful transitions” near historic districts.
📌 What’s next: Construction could begin after site plans are submitted and reviewed. The city will continue updating its comprehensive plan to address how dense developments interface with nearby neighborhoods.
Final Miles Underway for Raleigh’s Long-Awaited Highway Loop
📌 Driving the news: Construction is in full swing on the last 10-mile section of the Triangle Expressway (N.C. 540), connecting I-87 near Knightdale to I-40 near Garner, a project set to wrap up by late 2028.
📌 Details:
The $737 million job is split between two contractor teams for faster progress.
Southern section: $287M contract with S.T. Wooten and Branch Civil, building from I-40 to Rock Quarry Road.
Northern section: $450M contract with Fred Smith Co. and Flatiron Construction, including a Neuse River bridge.
Five new interchanges are planned: White Oak Rd, U.S. 70, Rock Quarry Rd, Auburn-Knightdale Rd, and Poole Rd.
📌 Why it matters: Once complete, the Triangle Expressway will form a 70-mile loop around Raleigh, easing traffic and opening new paths for commuters and businesses.
It also supports the rapid development of southeastern Wake County, where farmland is giving way to new neighborhoods and commercial growth.
📌 The big picture: This loop has been decades in the making. The first section broke ground in 1992. The northern half (I-540) is toll-free, while the southern portion, including this final leg, is funded by tolls managed by the N.C. Turnpike Authority.
📌 By the numbers:
867,000+ drivers have used the southern toll section since last summer.
Fewer than 3% travel the full 36-mile southern stretch, most use it for shorter, local trips.
Longest bridge: 460 feet over Bushy Branch.
📌 What’s next: Contractors are focused on utilities, tree clearing, and bridgework, slower parts of the build. Despite different contractors, both teams are on track to finish together by late 2028.
📌 The bottom line: Raleigh’s long-awaited loop is finally rounding the corner, and with it comes smoother drives and new opportunities for fast-growing Wake County.
In this video, I'm telling you all about the real cost of living in Raleigh! How much does it really cost to live comfortably in the Research Triangle in 2025? Let's find out!
North Carolina’s Housing Boom Follows Its Tech Surge
📌 Driving the news: A recent analysis from Veterans United Home Loans found that more than 58,000 VA home loans went unused in 2024, totaling nearly $28 billion in missed mortgage volume across the country.
📌 Details: The study looked at local housing markets and compared VA loan usage against the size of each area's veteran population.
While metro areas like San Jose and Naples saw the greatest underutilization, the report noted that both high-cost and smaller, lower-cost regions are affected.
High-priced areas like New York and Los Angeles each saw over $1 billion in lost VA loan volume.
Smaller cities with fewer veterans — such as Glens Falls, NY, and Lancaster, PA — also ranked in the top 25 for missed opportunities.
📌 Why it matters: North Carolina is home to one of the largest active duty and veteran populations in the country, including major bases like Fort Liberty and Camp Lejeune.
With more veterans settling here, underused benefits like the VA loan could mean lost chances to build home equity, grow local economies, and stabilize communities.
📌 The big picture: VA loans offer no required down payment, no private mortgage insurance, and allow sellers to cover all closing costs, but misconceptions persist.
Many veterans avoid VA loans due to outdated fears that the process is slower or more complicated than conventional financing.
📌 By the numbers:
VA loans made up 10–12% of mortgages in recent years, but dipped to 8% in 2024.
Rising mortgage rates and affordability issues contributed to that drop.
Local agents unfamiliar with VA processes also add friction in lower-volume areas.
📌 What’s next: Mortgage experts say education is key, both for veterans and the professionals they rely on.
Increased visibility and better understanding of VA loan advantages could lead to more veterans achieving homeownership, especially in states like North Carolina with strong military ties.
The Raleigh market is holding steady but staying active. Homes are selling in about 48 days with a median price of $450K, up 2.3% year over year. Most homes get two offers and sell for around 98% of the list price, showing demand is still healthy, just more balanced than before.
For Buyers: With competition cooling slightly, you’ve got more breathing room to negotiate and find the right fit. But act fast on homes priced well, they still move quickly.
For Sellers: Inventory remains tight, so well-priced, move-in-ready homes still attract solid offers. Lean on strong marketing and pricing strategy to stand out and sell with confidence.
I’m a Raleigh-based agent who’s passionate about real estate, local life, and making homeownership feel easy (and fun!). Subscribe and join 2,000+ readers who get the inside scoop every week!
