New 20-Story Residential Tower Breaks Ground in Raleigh
The $200 million project adds 289 luxury units and a large-scale athletic club to the growing Exchange Raleigh district.
Updated on Oct. 29, 2026 in Construction
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DeWitt Carolinas has broken ground on a $200 million, 20-story luxury residential and fitness tower in Raleigh. The project marks the second phase of the 40-acre Exchange Raleigh development, which is expected to reach full build-out with over 1,200 residential units.
Why it matters
The development signals a shift toward high-density mixed-use projects in Raleigh, where operators are banking on premium wellness-integrated living to drive urban demand. This model concentrates office, retail, and residential density to maximize site utility as the broader Exchange project continues expansion.
The 20-story tower represents a $200 million investment, featuring 289 apartments and an 80,000-square-foot athletic club. Upon completion, the broader Exchange Raleigh site is slated to hold 1,275 residential units and 990,000 square feet of office space.
The players
DeWitt Carolinas
A developer specializing in large-scale mixed-use master-planned communities.
Consigli Construction
A large regional general contractor managing complex multi-story vertical builds.
The details
The facility integrates luxury living with large-scale amenities, including a 40,000-square-foot rooftop beach club accessible to residents via elevator. Consigli Construction is managing the build, which mandates coordination between residential structural needs and the heavy mechanical requirements of an 80,000-square-foot athletic facility. This stacked design reflects a trend of building amenity-rich, vertical lifestyle hubs on smaller footprints.
Timeline
2022: DeWitt Carolinas commenced the 40-acre Exchange project.
Late 2024: The 1000 Social office tower opened at the development.
October 29, 2026: Official groundbreaking occurred for the new tower.
2028: Project construction is expected to be complete.
Market Landscape
The current development follows the successful 2024 launch of the 1000 Social office tower on the same site. This expansion tracks with long-term plans to transform the 40-acre district into a high-density hub totaling over 1,200 residential units.
Operators in the commercial and multi-family space should monitor the absorption rates of this high-density model as a bellwether for premium urban living demand. Increased site activity throughout the two-year build period will affect local traffic and procurement logistics for businesses near the Exchange Raleigh site.
The takeaway
This project underscores the growing premium placed on integrating wellness amenities directly into residential vertical assets. Developers should track the 2028 completion date to assess the market appetite for high-density, multi-use lifestyle centers in Raleigh.
Further reading
For broader trends in local development, see Raleigh Construction.
Source note: This article includes information reported by Business North Carolina.
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