NCFC and NC Courage owner Steve Malik and CEO of Kane Realty Corporation John Kane held a press conference Tuesday morning to announce plans for a downtown entertainment district in Raleigh. 

The project has been dubbed Downtown South and will feature a new 20,000 seat open-air stadium, 1.6 million square feet of office space, 125,000 square feet of retail and service space, 1,200 hotel rooms and 1,750 residential units according to the project’s website. The stadium will become the new home of both NCFC and NC Courage, and will also be used for concerts, festivals and other sports events, according to Malik.

The proposed site for the entertainment district is a 55-acre area of the southern edge of downtown at the intersection of South Saunders Street and I-40. The proposed area will also connect with places like Dorothea Dix Park and the State Farmers Market. 

“This is an exciting opportunity for our organization,” Malik said during the press conference. “Our vision is to make the Downtown Raleigh Entertainment District a world-class destination offering an exceptional social experience for fans and the community.”

According to visitdowntownsouth.com, the project is expected to generate 10,610 jobs during the construction process and generate $7 million in annual sales and income taxes for the state of North Carolina.

“This project holds tremendous promise for the city of Raleigh,” Kane said. “It’s unlike anything I’ve worked on in my career. To be part of something that would enhance the lifestyle and overall appeal of our city while strengthening the local economy in such a meaningful way is powerful. I’m hopeful that the Raleigh City Council and Board of County Commissioners will enable this transformational project to become a reality.

Construction is projected to start in 2020 with the stadium being finished in 2023.