Raleigh, N.C. — The Blount Street development project in downtown Raleigh is underway.

“We have been working on developing the concept for almost two years now,” said Builder Dave Servoss.

The entire project will sit in a six block area in the middle of downtown Raleigh. Nearly 500 new homes will be mixed in with 25 historic homes that date back to the 1800s.

“It was one of the highest quality, most historically significant neighborhoods in our community,” said Historian Steve Schuster.

That was then. But in recent years, historians say it became somewhat of a dead zone, cut off from other neighborhoods. The state bought a lot of the property, turning many of the homes into office space. Now, the project aims at bringing the people back.

“It could be one of the greatest impacts in our downtown in the next 20 years, what will happen in this neighborhood,” Schuster said.

With 21 acres in downtown Raleigh, what’s happening along Blount Street is believed to be one of the largest urban redevelopment projects in the country.

“We’ve kind of called Blount Street the spine, and the new development will wrap around it and reflect the historic heritage that is here,” said Project Manager Doug Redford.

Construction on the first phase should be complete by this summer. Realtors say there is already a lot of interest. So far, more than 700 people have signed up for more information.