North Carolina Construction News staff writer
Construction has begun on a 20-story residential tower in Midtown Raleigh that will combine 289 rental apartments with an 80,000-square-foot athletic club and a 40,000-square-foot rooftop recreation area.
Dewitt Carolinas and Life Time marked the groundbreaking of Life Time Living at The Exchange Raleigh, formally launching the second phase of the 40-acre, $1 billion mixed-use development.
Consigli Construction is the general contractor for the approximately $200 million tower, which is scheduled for completion in 2028.
The building will include 289 rental apartments ranging from approximately 610 to 2,040 square feet. Residential units will occupy floors four through 20, including 10 penthouse suites on the top floor with a four-level athletic club, a restaurant and coworking space.
The rooftop facility will include two swimming pools, a six-lane lap pool, four pickleball courts and outdoor recreation areas. Other planned residential amenities include a private dining room, golf and game simulator, covered parking and electric vehicle charging.
The project builds on the first phase of The Exchange Raleigh, which includes 1000 Social, a 12-story, 354,000-square-foot office tower that opened in 2024.
The broader development is planned to include up to 990,000 square feet of office space, 1,275 residential units, a 300-room hotel, 125,000 square feet of retail and restaurant space, and seven acres of green space.
Life Time announced its involvement in the project in 2024. The residential tower is expected to be completed in 2028.