Capital Square Opens Maeve, 20-Story Mixed-Use Tower in Downtown Raleigh Opportunity Zone

Whats Happening:

Capital Square has officially opened Maeve, a 20-story luxury mixed-use high-rise in Raleigh's Warehouse District. The project, funded through Capital Square's sixth qualified opportunity zone fund, marks a significant addition to downtown Raleigh's urban landscape. The building includes 297 apartment homes, over 10,000 square feet of retail space, and 30,000 square feet of amenities.

Key Moves:

• Capital Square opens Maeve, a 20-story mixed-use tower in downtown Raleigh

• Project funded through Capital Square's sixth qualified opportunity zone fund

• Building includes 297 apartments, retail space, and extensive amenities

By The Numbers:

• Maeve supported an estimated annual average of 750 jobs during construction

• Project generated an estimated $108.5 million in annual output during construction

• Maeve is expected to generate $23.4 million annual economic impact to GDP

Key Quotes:

• "What was once a shuttered building and a surface parking lot has become a magnificent 20-story landmark apartment tower with ground-floor retail, extending the downtown core south," said Louis Rogers, founder and co-chief executive officer of Capital Square.

• "Capital Square is proud to celebrate the grand opening of Maeve, where residents are now enjoying a refined living experience complete with premier amenities and sweeping views of downtown Raleigh," said Whit Huffman, co-chief executive officer of Capital Square.

Bottom Line:

The grand opening of Maeve represents a significant milestone for Capital Square and the Raleigh Warehouse District. This project demonstrates the potential of opportunity zone investments to transform urban areas while providing attractive tax benefits for investors. The development's economic impact and job creation underscore its importance to the local community and economy.

Read Full Article