Raleigh residents will see a new name on the downtown convention center starting Thursday. The facility, long a hub for Wake County high‑school graduations, concerts and conferences, will officially become the Atlantic Union Bank Convention Center after the regional bank secured the naming rights for the next 15 years.
Financial terms and community impact
Atlantic Union Bank agreed to pay the city more than $500,000 upfront for the naming rights. The contract also includes an annual fee that will rise by 2 % each year over the 15‑year term, providing a steady stream of revenue for the municipality. City officials highlighted that the infusion of private‑sector capital supports the convention center’s ongoing role as a gathering place for families, faith groups and local businesses.
Expansion project moves forward
At the same time, the convention center is preparing for a nearly 300,000‑square‑foot expansion. New ballrooms and meeting rooms will be added to accommodate larger events and attract more regional conventions. Construction is scheduled to begin at the end of this year, with completion targeted for 2029. City leaders said the expansion, paired with the naming‑rights deal, will bolster Raleigh’s reputation as a premier destination for conferences and community gatherings.
Ceremony marks the transition
A brief ceremony held Thursday recognized the new partnership. Representatives from Atlantic Union Bank, city officials and community members gathered to unveil signage and celebrate the collaboration. The event underscored the shared commitment to economic growth, job creation and preserving a venue that serves families and faith‑based organizations throughout Wake County.
What this means for locals
For Raleigh families, the renamed convention center will continue to host high‑school graduations, holiday concerts and civic events, now under a banner that reflects a local financial institution’s investment in the community. The expansion promises additional meeting spaces that can support everything from church conferences to small‑business expos, aligning with the city’s focus on strengthening traditional families and individual liberty through vibrant public venues.
City Council members noted that the naming‑rights agreement and expansion project are examples of public‑private partnerships that respect taxpayers while delivering tangible benefits. By leveraging private capital, Raleigh can enhance its infrastructure without imposing new burdens on residents.
Looking ahead
Construction crews will break ground later this year, and the city will provide regular updates on progress. Residents are encouraged to stay informed through official city communications and to attend future public meetings where the project’s milestones will be discussed.
Original reporting: WRAL Raleigh — read the source article.
