The Fallon Company Breaks Ground on Phase One of New Mixed-Use Development Raleigh Crossing

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Raleigh, NC – The Fallon Company, a national commercial real estate owner and developer that specializes in mixed-use urban development with regional offices in Charlotte and Raleigh, this week celebrated the inaugural milestone of its new 1.86-acre mixed-use development, Raleigh Crossing, in the heart of downtown Raleigh.

Chief Deputy Secretary for the North Carolina Department of Commerce Liz Crabill, Mayor Nancy McFarlane and Pendo CEO Todd Olson joined The Fallon Company leadership as it broke ground on the first phase of the project, a 19-story, 292,500 square foot commercial tower, 301 Hillsborough.

Located at the center of downtown’s most vibrant districts, Raleigh Crossing will feature commercial, residential, retail and hospitality uses, and enhance the downtown landscape with its striking design. To be completed in two phases, Raleigh Crossing will offer a true mixed-use experience and a distinct sense of place. Key project features include:

  • 280,000 square feet of trophy office space
  • 18,000 square feet of street-level retail
  • 165-room hotel
  • 135-unit apartment community
  • An expansive, flexible outdoor amenity terrace
  • Expanded sidewalks and an activated ground level

“We are excited to welcome The Fallon Company to downtown Raleigh,” said Mayor Nancy McFarlane. “This new mixed-use development will help drive continued job growth in our city, and bring new commercial, residential and retail opportunities to the downtown. We look forward to The Fallon Company’s continued success in North Carolina.”

Designed by award-winning Durham-based Duda | Paine Architects, PA, 301 Hillsborough at Raleigh Crossing will be designed to fit the needs of the modern workforce, with amenities including an expansive office lobby with communal gathering space, a spacious multi-purpose amenity terrace, a  tenant-only fitness facility, and a pedestrian-oriented streetscape with 12,500 square feet of exciting retail and dining options. With its striking glass facade and human-scale design, 301 Hillsborough will offer a fresh perspective to the city’s growing skyline.

“Today’s groundbreaking symbolizes an exciting new chapter in the continued evolution of downtown Raleigh,” said Michael Fallon, President of The Fallon Company. “Our vision for the site was to create a best-in-class development that elevates the city’s commercial appeal while honoring its unique character. We’re thrilled to work with local partners to bring this vision to life. With its prime location and modern amenities, Raleigh Crossing will be the city’s premier mixed-use destination. We are honored to welcome Pendo and other tenants, residents and visitors to enjoy this dynamic community in the heart of the city.”

Earlier this year, The Fallon Company announced that Pendo, creator of the leading product cloud for digital products and data-driven product teams, will relocate its corporate headquarters to 301 Hillsborough. Pendo’s new headquarters will occupy five floors and 125,000 square feet of the commercial tower.

“With its central location, first-class amenities and thoughtful design, 301 Hillsborough is the ideal future location for Pendo as we continue to plan for long-term growth,” said Pendo CEO Todd Olson. “We are thrilled to join The Fallon Company today in celebrating this exciting milestone.”

CBRE Raleigh has been engaged to handle the office and retail leasing responsibilities for 301 Hillsborough. Raleigh Crossing’s second phase of development will concentrate on the site’s hotel and residential offerings, including an additional 5,500+ square feet of retail space.