Wake Forest Renaissance Plan - September 2017


2017 R ena i s s anc e P l an U pdat e | T own of W ak e F or e s t

3.2 Area Growth

Wake County continues to experience rapid growth and development. The Raleigh metropolitan area continues to be reported and ranked by a wide range of sources as one of the most attractive places to live in the country and one of the hottest development markets in the nation. The cost of living is relatively low and the quality of life remains high when compared to peer cities nationwide. Similarly, Wake Forest and northern Wake County have been experiencing significant growth and development over the past 20 years. The population of Wake Forest itself more than doubled from 2000 to 2010 and is forecasted to continue growing at a similar pace over the next 20 years. Such rapid growth has and will continue to have significant impacts on Wake Forest’s retail market trade area, transportation system, and economic activity. The diagram on the following page illustrates

northern Wake County’s change in corporate boundaries from 1999 to 2015. The corporate limits of Wake Forest and Rolesville have expanded significantly, especially along the corridors of US 401 North and US 1 North/Capital Boulevard between Raleigh and Wake Forest. Twenty years ago, Wake Forest was the edge of the Raleigh metro region and the town was much different. Now, there are many more amenities, homes and residents, and traffic flowing through the town as part of the larger regional network. Wake Forest is part of a greater whole, rather than the hole in the doughnut. The town is growing with thousands of new residents projected to come year after year. Moving forward, the Town of Wake Forest must dictate how it will grow, especially in the Renaissance Area where there is so much opportunity for new development and redevelopment.

KEY POPULATION GROWTH STATISTICS » » From 2000 to 2013, the population of Wake Forest grew 151% » » Wake Forest total households grew from 4,617 in 2000 to 10,521 in 2010 » » Wake Forest is expected to add 1,000 new residents every year over the next 10 years » » The neighboring community of Rolesville grew by almost 320% from 2000 to 2010

(Source: Wake Forest Economic Development)

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