The current development plans encompass a four block masterplan for the densification and redevelopment of the downtown core of Raleigh, North Carolina. The plan calls for densification through the addition of a rich mix of urban housing, office space, street level retail and structured parking. The first phase was the construction of a mixed-use development for Progress Energy on the city block due east of their current headquarters building. The project incorporates 400,000 square feet of office space including an energy trading operation with open floor space for approximately 500 traders, 80 residential units fronting residential neighborhoods to the east of the project, 20,000 square feet of street level retail and a structured parking facility with a 1,000 car capacity. Red Hat purchased the facility in 2011.