Life Time and Dewitt Carolinas Break Ground on Life Time Living Tower at $1B Exchange Raleigh

Raleigh, NC
•4 min read

Dewitt Carolinas and Life Time (NYSE: LTH) held a groundbreaking Oct. 29 for Life Time Living at The Exchange Raleigh, a multifamily tower in Midtown Raleigh, N.C. The event formally initiated Phase Two of the 40-acre, $1 billion master-planned development, according to a Nov. 2 announcement from Life Time, Inc.

The groundbreaking follows the 2024 announcement of Life Time's involvement in the project. Life Time Living is planned to open in 2028.

Life Time Living Tower Details

Life Time Living is a vertically integrated tower of high-end multifamily residences for lease. It will be built together with an 80,000-square-foot, four-level Life Time athletic country club and a 40,000-square-foot rooftop beach club with pools and pickleball courts. The club and beach club will be open to both residents and Life Time members.

The project builds on The Exchange's flagship WELL-certified tower at 1000 Social, according to the announcement.

Key components of the project include:

  • Athletic country club: An 80,000-square-foot, four-level facility with dedicated studios and spaces for barre, cardio, high-intensity training, reformers, strength training, Pilates and yoga, as well as functional training, recovery, massage, a coworking lounge, a full-service LifeCafe and Kids Academy.
  • Rooftop beach club: A 40,000-square-foot outdoor rooftop space with two pools, a leisure pool and a six-lane lap pool, and four dedicated pickleball courts.
  • Residences: Units ranging from 610 to 2,040 square feet with high ceilings, large windows, stainless steel appliances, custom soft-close cabinetry, and walk-in closets with soundproofing and blackout shades. Other features include work-from-home spaces, a private dining room, outdoor resident amenities, a golf and game simulator room, and covered parking with EV charging stations.
  • Certifications: The project will receive NGBS Green and Fitwel certifications.

Phase Two of The Exchange Raleigh Master Plan

The Exchange Raleigh is Dewitt Carolinas' 40-acre project in Midtown Raleigh. Upon completion, the development will include four acres of activated park space out of a total of seven acres of greenspace, up to 990,000 square feet of office space, up to 1,275 residential units, 300 hotel rooms, and 125,000 square feet of retail and dining space.

Anthony Consigli, CEO of Consigli Construction Co., Inc., said in the announcement: "This project reflects what can happen when great partners come together around a shared vision, and from the start, Dewitt Carolinas and Life Time have been aligned in their commitment to creating something that will strengthen and serve the growing Raleigh community. The Consigli team is grateful for their trust and partnership, and we look forward to building alongside them as we bring this transformative next chapter for The Exchange and its future residents to life."

Executive Comments

Parham Javaheri, Life Time's executive vice president, president of real estate and chief property development officer, said: "Life Time has created an ecosystem that reimagines how people live, work and play, and the continued expansion of Life Time Living is a natural extension of that vision. By bringing residential living and our athletic country clubs together, we're helping transform healthy living from something people make time for into something built into everyday life. Raleigh is an ideal market for this next chapter of growth, and together with Dewitt Carolinas and The Exchange Raleigh, we're proud to continue expanding this proven Life Time ecosystem."

Todd Saieed, CEO of Dewitt Carolinas, said: "The Exchange Raleigh is the result of a long-term, firmly held vision to which our team has been committed for decades. This milestone isn't just about breaking ground on the next phase; it's the culmination of being persistent and strategic in creating something truly exceptional. By bringing Life Time's incredible athletic country club and luxury living model to our community, we are delivering on our promise to make Midtown Raleigh a destination unlike any other."

Life Time Living Portfolio and Raleigh Presence

Life Time Living debuted in Coral Gables, Fla., in 2021. According to the announcement, locations operate in Henderson, Nev.; Burlington, Mass.; and Stamford, Conn. Additional locations are scheduled to open next year in King of Prussia, Pa., and Paradise Valley, Ariz. Each is adjacent to or connected to a Life Time athletic country club.

Life Time debuted in the Raleigh market in 2007 and operates four athletic country clubs in Cary (2007), Apex (2011), Raleigh (2015) and Alston Town Center (2026). The company says it operates more than 195 athletic country clubs across the U.S. and Canada.

Dewitt Carolinas is a Raleigh-based real estate company with more than 25 years of experience across more than 200 projects in the Carolinas, specializing in office, retail and multifamily development, construction management, property management and leasing. Waitlists are open for both the Life Time athletic club and the Life Time Living residences.

Sources