Developers File Plans for New Raleigh Office Tower

The proposed 16-story office building will be located at the Lenovo Center site.

Updated on Oct. 23, 2026 in Remote Work

A modern glass and steel office building under construction with tall cranes in a Raleigh urban setting. — Pacific Elm Properties has filed official plans for a 16-story office tower to be built on the northwestern side of Raleigh's Lenovo Center. AI Illustration. Upload story photo >

Live Poll

Do large-scale commercial development projects in your community generally make the area a better place to live?

Developers have officially filed plans for a new 16-story office tower on the northwestern side of the Lenovo Center in Raleigh. The project is part of a larger, long-term development effort surrounding the arena.

Why it matters

This filing marks a major step forward in the multi-phase transformation of the district surrounding the Lenovo Center. It follows the City Council's approval of rezoning for the 80-acre area last year.

The proposed tower design includes 550,000 square feet of office space and a combined total of 830 parking spaces across internal and standalone decks. The broader 80-acre arena district development operates under a $300 million renovation budget.

The players

Pacific Elm Properties

This real estate development firm is responsible for managing the phased construction of the new office tower at the arena district.

Tom Dundon

The investor and developer obtained the rights to develop 80 acres around the arena in 2023.

Raleigh City Council

The local governing body responsible for overseeing the zoning and development approvals for the district.

The details

Pacific Elm Properties filed the documentation with city planners, outlining a structure that features 16 floors of office space. The project also includes two separate parking facilities to support the site on the northwestern side of the arena.

Dundon obtained development rights for 80 acres in 2023.
Lenovo began its naming rights agreement in September 2024.
The Raleigh City Council approved rezoning for the district in April 2025.
Developers filed plans for the office tower in October 2026.
Construction on the project is expected to start in early 2027.

Market Landscape

This office tower project represents the next stage of the arena district's evolution following the 2025 rezoning approval. It signals a move toward high-density commercial growth in a location previously defined by its sports and entertainment utility.

Local residents and commuters should anticipate long-term construction activity near the Lenovo Center as the site begins a decade-long development process. The project aims to integrate significant new office capacity into the existing arena entertainment corridor.

The takeaway

The addition of 550,000 square feet of office space marks a significant shift for the arena district's functionality. Stakeholders are shifting toward a mixed-use model that aims to sustain activity at the site beyond game days and events.

What happens next

Construction on the office tower is expected to commence in early 2027, with the broader arena renovation project slated for completion in the summer of 2028.