Raleigh's Brand New and Largest Riverfront Community

New neighborhoods get announced around Raleigh all the time. I've been helping people buy and sell homes in the Triangle for more than 35 years, and most of those announcements come and go without me giving them a second look.

BanksTwenty is different. It's one of the biggest residential communities approved around Raleigh in years. It sits right on the Neuse River, and it's landing in one of the fastest growing parts of Wake County. This one caught my attention early, and I want to walk you through exactly what's being built, why the location matters, and what the timeline really looks like.

What Is BanksTwenty?

BanksTwenty is a master planned community from Mungo Homes. The name comes from mile marker 20 on the Neuse River, so the river has been part of the vision from day one.

The property sits off Hodge Road and Poole Road in southeast Raleigh. It's now inside the Raleigh city limits, which means buyers get a Raleigh address without feeling like they're in the middle of the city.

The project has been approved for up to roughly 1,800 homes. The plan includes townhomes, single family homes, and age targeted options. Early plans also mention rental homes built into the community. That mix is common in larger master planned communities today. It's being designed for people at every stage of life, and in my experience that usually means a livelier neighborhood, not a quieter one.

To put the size in perspective, this isn't another subdivision with a few hundred homes. It's an entirely new community.

You'll see different acreage figures depending on where you look, and the exact size is still being reported inconsistently. What I can tell you is that it's a large riverfront property, and that's unique in our area.

What Will Homes at BanksTwenty Cost?

The first homes are expected to start in the low to mid $400s. For context, Raleigh's current median home price is around $458,000.

Finding new construction with a Raleigh address at that price point is getting harder every year. That's a big reason this project is drawing so much interest before a single home is on the market.

The Amenities: A True Riverfront Lifestyle

What really stands out to me is how much has been planned beyond the homes themselves. Mungo Homes has committed more than $20 million to amenities, all inside a large dedicated amenity area.

The plans include a clubhouse, a resort style pool, and pickleball courts. There's a pump track for bikes and scooters, a dog park, a dedicated activity space, and shared gathering areas where neighbors can host their own events. The builder is clearly trying to give every age group something to do, from toddlers all the way up to grandparents out for a walk.

Your Front Door to the Neuse River Greenway

The river is what makes this community special. The Neuse River Greenway already runs right alongside BanksTwenty, and I truly believe it's the gem of Raleigh's entire greenway system.

The trail stretches about 27 miles, from Falls Lake down toward southern Wake County. It's one of the most popular places in the city to walk, run, and bike. You'll cross a suspension bridge, follow boardwalks through the wetlands, and if you're lucky, spot a heron or a river otter along the bank.

Raleigh is known as the City of Oaks, and our greenway network is second to none. At BanksTwenty, that kind of scenery isn't a weekend drive. It's right outside your front door.

If you love being on the water, kayaking and fishing are part of the plan too. There are already river access points nearby, so you won't be waiting years to enjoy them.

Final amenity details could still change as the project moves forward, but the direction is clear. This is a riverfront community where the greenway, the river, and the shared spaces matter just as much as the homes.

Why This Location Is About to Take Off

Location is just as important as the amenities here. Wendell was recently named the fastest growing town in North Carolina, and Knightdale is also one of the fastest growing towns in the state. BanksTwenty sits right between downtown Raleigh and Knightdale, in the middle of that growth.

The biggest reason is Complete 540. The final section is under construction now, with an expected opening in late 2028. This is roughly a $2.5 billion investment across both phases, and Phase 2 alone includes 24 bridges, 14 culverts, and six new interchanges.

One of those interchanges is being built at Poole Road, just a few minutes from BanksTwenty. Crews are already out there working. Once it opens, downtown Raleigh, North Raleigh, RTP, and the airport all become a much more direct drive. That makes this area a practical choice for anyone who wants more space without giving up access to the rest of the Triangle.

We've Seen This Movie Before

I've watched this happen in Raleigh before. In the 1970s and 1980s, I-40 made Cary an easy commute, and that's a big part of why Cary became what it is today.

I believe Complete 540 is doing the same thing for the eastern side of Wake County right now. And this isn't just theory. Phase 1 of Complete 540 opened in September 2024, and commute times out toward Clayton started shrinking almost right away, with home values in that area following.

Of course, nothing happens overnight. Real estate is typically a three to five year hold on average, and past trends are never a guarantee of future results. But if you're paying attention to where the Triangle is growing, this corridor belongs on your radar.

The Honest Timeline

I always want my clients hearing the truth from me, so here it is. Timelines on projects this size are a moving target.

Site preparation is already underway, and Mungo's current goal is to open the community in early 2027. The timeline has already shifted once. When BanksTwenty was first announced in 2023, construction was expected to begin in 2025 with the first homes arriving in 2026. That hasn't happened yet.

That's not a red flag. It's simply how large developments tend to go. It is, however, why I'd encourage you to treat every date as an estimate, not a promise, and not to plan your life around a date that could move again.

Right now there's no model home, and there isn't much to see if you drive out there. The community will also be built in phases over several years, so it will keep growing long after the first buyers move in. Most of the details we have only came out earlier this summer, which means this is one of the first real looks at what's planned.

Who Should Keep an Eye on BanksTwenty?

If you're planning to buy in the next couple of years, this is a community worth keeping on your list while it takes shape. By the time the first homes are available, you'll already know whether it's the right fit instead of starting your research from scratch.

If you already own a home in east Raleigh, Knightdale, or nearby, this is a project you'll want to follow. A development this size doesn't just add homes. Over time it tends to bring new businesses, new services, and more investment into the surrounding area.

And if you're not buying or selling right now, BanksTwenty is still a great window into where Raleigh is expanding next. Projects like this are easy to overlook today. A few years from now, I don't think that will be the case.

Let's Talk About Your Next Move

If you're wondering whether BanksTwenty is right for you, or you're looking anywhere in the Triangle, I'd love to help. Call me at 919-601-7710 (and yes, I really do answer my phone) or email me at [email protected]. My team and I are happy to talk through what's available and what makes the most sense for your plans.

TMI with Marti exists to help buyers and sellers make clearer decisions by understanding how the market is actually behaving.

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