RALEIGH – Steve Malik, owner and chairman of the North Carolina Football Club, and partners including Triangle developer John Kane, have put together a proposal for a soccer stadium and near-by development for southeast Raleigh that will cost some $1.9 billion.

An announcement is set for next Tuesday, June 25.

In an exclusive interview and email discussion with WRAL TechWire, Malik said the proposed stadium will seat 20,000 people and be the hub of an entertainment complex.

Kane is the developer of the sprawling North Hills project and a new complex being built north of downtown Raleigh near Capital Boulevard.

Asked why he chose to work with Kane, Malik said: “I needed someone who could get things done.”

While not divulging the specific location, Malik said the complex “will be downtown.”

The project takes advantage of tax incentives offered through development of so-called opportunity zones.

“Extremely important,” Malik said when asked about the federal program which the North Carolina Department of Commerce says has “the potential to attract investment capital into low-income areas of North Carolina.” The state has some 250 such zones.

“Our previous targeted location was only 13 acres and now we have considerably more acreage and the matching commitment for private development in large part because of the tax benefits driven by the opportunity zone,” Malik explained.

Multi-year campaign

The proposal is part of a multi-year effort by Malik, who is owner and executive chairman of Cary-based MedFusion, a health information technology firm, as well as a serial entrepreneur and investor.

Malik acquired the Carolina RailHawks in 2015, later rebranded the franchise, acquired the North Carolina Courage of National Women’s Soccer League and has sought a Major League Soccer franchise. (North Carolina FC is part of the United Soccer League.)

In 2017, Malik proposed the building of a stadium at another downtown Raleigh site.

The new site, Malik said, is much larger and thus will provide more area for related development.

Given the scale of the development, Malik said “there will certainly be others involved but for now Kane Realty and NCFC are the primary developers.”

Listening, seeking comment

The announcement caps a process through which Malik and Kane have sought input from the local community as well as government agencies.

“We have spent the last two years listening” to people about the project, Malik explained.

Asked if he and Kane were prepared for issues that might result from housing that might be lost to the development, Malik nodded and said: “We are prepared for that.”

“Other than financially, there are many other stakeholders, including the community, local universities and colleges, City of Raleigh, Wake County, transit authorities, parks administration [and more],” Malik said.

On Tuesday, Malik said “polling data, economic impact study results, renderings and the specific location” to be developed will be disclosed.

More than MLS bid

The project is much more than just soccer, he added.

“Having an urban stadium with great highway access and with entertainment options surrounding it will strengthen our bid,” Malik said when asked about the MLS franchise bid.

“At the same time, this plan is not just about soccer. We are planning 75 other major events and 100’s of smaller events that will activate the development year round. ”

Malik, who also has been very involved in youth soccer, foresees a busy schedule for the stadium which will drive attendance as well as related spending in Raleigh.

“While soccer with our existing men’s and women’s teams and international exhibitions will be approximately 35 dates a year, we expect attendance will increase with more entertainment options proximate as is evidenced in other comparable markets,” he said.