The Raleigh Convention Center, a downtown staple, may soon have a new name. The city is considering selling the naming rights to Atlantic Union Bank, which would result in the venue being renamed the Atlantic Union Bank Convention Center.

Details of the Proposal

If approved, the new name would be used for a 15-year term with options to extend. Atlantic Union Bank has already agreed to pay the city more than $500,000 upfront for the naming rights, with an annual fee that would increase by 2% every year across the 15-year term.

A public hearing will be held at 1 p.m. during a Raleigh City Council session, where residents can learn more about the proposal and share their opinions. Additionally, work is planned to expand the venue at 500 S. Salisbury St., with construction scheduled to begin at the end of this year and be complete in 2029.

Original reporting: WRAL Raleigh — read the source article.