RALEIGH, N.C. — Joint venture partners Dewitt Carolinas, a locally based developer, and Life Time (NYSE: LTH), a health club operator, have broken ground on Life Time Living at The Exchange Raleigh, a 289-unit, 20-story tower. According to the Triangle Business Journal, the project cost is approximately $200 million.
The development marks the launch of the second phase of construction at The Exchange Raleigh project, a $1 billion, 40-acre district in Midtown Raleigh that will include approximately 990,000 square feet of office space, up to 1,275 residential units, 300 hotel rooms, 125,000 square feet of retail and dining and about 7 acres of green space. Phase I included 1000 Social, a 12-story, approximately 354,000-square-foot office and retail tower with an adjacent 1,585-space parking deck that opened in 2024. Completion of Life Time Living is slated for 2028.
The project will be defined by its Life Time Athletic Country Club, an 80,000-square-foot, four-level fitness center with dedicated studios and spaces for specialty exercise, such as yoga, cardio, strength training, yoga and Pilates. The club also will feature massage suites, a coworking lounge, a café and more.
The Rooftop Beach Club area is a 40,000-square-foot outdoor rooftop space equipped with two pools (a leisure pool and a six-lane lap pool) and four pickleball courts.