Milestone event launches phase two of $1 billion midtown Raleigh development bringing healthy luxury living to the Triangle as Life Time's healthy living ecosystem grows

CHANHASSEN, Minn., Nov. 2, 2026 /PRNewswire/ -- Dewitt Carolinas and Life Time (NYSE: LTH) celebrated the official groundbreaking of Life Time Living at The Exchange Raleigh on Oct. 29. The event marked a defining milestone in Midtown Raleigh's evolution following the announcement in 2024 of Life Time's involvement in the project. It also formally initiated Phase Two of the 40-acre, $1 billion master-planned development.

Life Time Living, planned for a 2028 opening, is a vertically integrated tower of high-end multi-family residences for lease. It will be built together with an 80,000-square-foot, four-level Life Time athletic country club and additional 40,000-square-foot rooftop beach club with pools and pickleball courts. Residents will live inside the unique Life Time healthy way of life experience, with the club and beach club open to both residents and members. The project builds on the benchmark set by The Exchange's flagship WELL-certified tower at 1000 Social, with plans for a 2028 completion.

"Life Time has created an ecosystem that reimagines how people live, work and play, and the continued expansion of Life Time Living is a natural extension of that vision," said Parham Javaheri, Life Time Executive Vice President, President of Real Estate and Chief Property Development Officer. "By bringing residential living and our athletic country clubs together, we're helping transform healthy living from something people make time for into something built into everyday life. Raleigh is an ideal market for this next chapter of growth, and together with Dewitt Carolinas and The Exchange Raleigh, we're proud to continue expanding this proven Life Time ecosystem."

Key Highlights of the Life Time Living project include:

• Life Time Athletic Country Club: An 80,000-square-foot, four-level luxury facility featuring dedicated studios and spaces for barre, cardio, high-intensity training, reformers, strength training, Pilates and yoga, alongside spaces for functional training, recovery, massage, a coworking lounge, and full-service LifeCafe, Kids Academy and more.
• Rooftop Beach Club: A 40,000-square-foot outdoor rooftop space equipped with two pools (leisure pool and six-lane lap pool) and four dedicated pickleball courts.
• Luxury Residences: Vertically integrated residences ranging from 610 to 2,040 square feet with high ceilings, large windows for optimal natural lighting, stainless steel appliances, custom soft-close cabinetry, walk-in closets with soundproofing and blackout shades, work-from-home spaces, private dining room, outdoor resident amenities, a golf and game simulator room, and covered parking with EV charging stations.
• Master Plan Alignment: Life Time Living at The Exchange Raleigh will receive NGBS Green and Fitwel® certifications and complements Phase Two of the overall 40-acre master plan, which upon completion will feature four acres of activated park space (from a total of seven acres of greenspace), up to 990,000 square feet of office space, up to 1,275 residential units, 300 hotel rooms, and 125,000 square feet of retail and dining space.

"The Exchange Raleigh is the result of a long-term, firmly held vision to which our team has been committed for decades," said Todd Saieed, Chief Executive Officer of Dewitt Carolinas: "This milestone isn't just about breaking ground on the next phase; it's the culmination of being persistent and strategic in creating something truly exceptional. By bringing Life Time's incredible athletic country club and luxury living model to our community, we are delivering on our promise to make Midtown Raleigh a destination unlike any other."

Anthony Consigli, Chief Executive Officer of Consigli Construction: "This project reflects what can happen when great partners come together around a shared vision, and from the start, Dewitt Carolinas and Life Time have been aligned in their commitment to creating something that will strengthen and serve the growing Raleigh community. The Consigli team is grateful for their trust and partnership, and we look forward to building alongside them as we bring this transformative next chapter for The Exchange and its future residents to life."

Media & Multimedia Assets:

• Flythrough Video Rendering: Access the official flythrough video rendering of the finished buildout at https://app.air.inc/a/m99b86b98. 
• High-Resolution Images & Screen Captures: Download high-res architectural renderings, event photos, and video screen captures:
  • Athletic Club - https://app.air.inc/a/b566572b8 
  • Residential - https://app.air.inc/a/b84956093
  • Building Exterior - https://app.air.inc/a/bd24f380a 
• Waitlists are open for those interested in learning more about both projects:
  • Athletic Club - Life Time Club: https://lifetime.life/raleighnorthhills
  • Residential - Life Time Living: https://living-raleigh.lifetime.life

Life Time Living, which debuted in Coral Gables, Fla., in 2021, combines luxury apartment living with Life Time's full health and wellness ecosystem, resort-style amenities, curated wellness programs and access for everyone from 90 days to 90+ years old. Today, locations operate in Henderson, Nev.; Burlington, Mass.; and Stamford, Conn. Next year, additional locations will open in King of Prussia, Pa., and Paradise Valley, Ariz. Each is adjacent to or connected to a Life Time athletic country club.

Life Time debuted in the Raleigh market in 2007 and now operates four athletic country clubs in Cary (2007), Apex (2011), Raleigh (2015) and Alston Town Center (2026).

For more information about Life Time, visit LifeTime.life, explore the Life Time Newsroom, follow us on LinkedIn, Facebook and Instagram, or download the complimentary Life Time App.

About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its more than 195 athletic country clubs across the U.S. and Canada, the complimentary and comprehensive Life Time app featuring its L•AI•C™ AI-powered health companion, and more than 30 iconic athletic events. Serving people ages 90 days to 90+ years, the Life Time ecosystem uniquely delivers healthy living, healthy aging, and healthy entertainment experiences, a range of unique healthy way of life programs, highly trusted LTH nutritional supplements and more. Recognized as a Great Place to Work^®, the company is committed to upholding an exceptional culture for its nearly 50,000 team members. www.lifetime.life.

About Dewitt Carolinas
Dewitt Carolinas is a Raleigh-based full-service diversified real estate company with over 25 years of experience across more than 200 projects throughout the Carolinas. Dewitt Carolinas specializes in office, retail, and multifamily development, construction management, property management, and leasing. Explore more at DewittCarolinas.com.

About The Exchange Raleigh
The Exchange Raleigh is Dewitt Carolinas' 40-acre, billion-dollar project in Midtown Raleigh. Upon completion, the development will feature four acres of green space, up to 990K square feet of office space, up to 1,275 residential units, 300 hotel rooms, and 125K of retail and dining. Infused with local culture and lush greenery, The Exchange is a vibrant community rooted in health, wellness, and intentionally balanced living. Discover more at TheExchangeRaleigh.com.

About Consigli Construction Co., Inc.
Consigli Construction Co., Inc. is a leading construction manager in the Northeast and Mid-Atlantic. 100% employee-owned, Consigli provides building services for corporate, healthcare, higher education, institutional, science and technology, and federal clients. Learn more at consigli.com.

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SOURCE Life Time, Inc.