Raleigh developers breaking ground on billion-dollar ‘legacy project’ in Midtown


Workers are breaking ground this summer on the first building in an ambitious and modern $1 billion development in Midtown Raleigh, a project its developers said they’ve been working toward their wholes lives. Todd Saieed and Ven Poole are CEO and senior partner, respectively, at Dewitt Carolinas. “We’re two guys who have been in Raleigh our whole lives and this is a legacy project for us,” Saieed said in an interview.

Todd Saieed and Ven Poole

Todd Saieed, left, and Ven Poole pose Tuesday, June 7, 2022, on the site where The Exchange Raleigh is being built. The new 40-acre development will include office space, retail and restaurant space, a hotel, and residential units. Photo credit: Ethan Hyman, N&O

He and Poole were seated in a conference room with floor length windows overlooking the cleared land. “Our kids and our grandkids are going to come play in this park,” Poole said. “We just want to do it right.”

Mary Helen Moore | The News & Observer 6.18.22