RALEIGH – Construction at 1000 Social, the first of two 12-story towers on a 40-acre, $1 billion project is now underway.

The project, known as The Exchange Raleigh, is being developed by Dewitt Carolinas, Inc., and when the first tower is completed, it will offer 330,000 square feet of mixed use space.

“1000 Social represents our overall vision for The Exchange Raleigh, a high-performing, environmentally responsive community that inspires wellness and optimizes productivity with a seamless flow between outdoor and indoor spaces,” said Dewitt Carolinas CEO Todd Saieed in a statement.

And while the project is based in North Raleigh, it’s far from the only development underway in the City of Oaks.  There are nearly $2 billion in projects planned in Raleigh’s downtown, and the $2.2 billion Downtown South development.

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Seeking headquarters

A statement from Dewitt Carolinas highlights the opportunity for companies to establish a headquarters location, noting that the top two levels will be reserved.

Attracting more corporate headquarters is one of the goals for Raleigh’s next stage of growth, according to Michael Haley, the executive director of Wake County Economic Development and a senior vice president at the Greater Raleigh Chamber of Commerce, who spoke at an event in June.

“Headquarters impact communities by bringing jobs, increasing philanthropic investment, attracting talent and much more,” said Haley at the time.

And once the second tower, which will be mirrored to the design of 1000 Social, according to the company, is completed, a sky bridge and park will connect the two towers of the project.

“1000 Social will establish the mixed-use project’s overall aesthetic, with modern architecture balanced by expansive outdoor workspaces and sweeping views of the surrounding four-acre park, which anchors the entire project. 1000 Social will deliver 330,000 sq ft of class-A office space, 20,000 sq ft of retail, and 5,000 sq ft of conference and meeting centers,” a statement reads.

The project was initially announced in November 2019 as Midtown Exchange.

Developer plans $1 billion mixed-use project, Midtown Exchange in North Raleigh