Key Raleigh real estate figure who helped bring Hurricanes to North Carolina has died

RALEIGH — E. Stephen Stroud, an influential Triangle real estate figure who was a key player in the Carolina Hurricanes’ move from Connecticut to Raleigh, has died.

Stroud was involved in several key developments across Raleigh and Wake County, including the Crossroads development in Cary, Imperial Center office park in Durham, Brier Creek and office parks at Highwoods and around Rex Hospital in Raleigh.

The Centennial Authority announced his death.

“Steve Stroud was a true visionary whose dedication and tireless efforts made the Lenovo Center a reality,” said Philip Isley, current chairman of the Centennial Authority. “Steve’s leadership during the arena’s construction laid the foundation for one of the premier sports venues in the country. We are deeply grateful for his service and extend our heartfelt condolences to his family, friends, and all who knew him.”

Stroud chaired the Centennial Authority, which oversees the arena that is home to the Hurricanes and NC State’s men’s basketball team, in its early years, guiding the planning, financing and construction of the arena. He worked with local and state leaders to help attract the National Hockey League’s Hartford Whalers to Raleigh, helping convince then-owner Peter Karmanos to move to North Carolina.

The Hurricanes have won two Stanley Cup championships since moving to North Carolina in 1997, including in June. Stroud served on the authority until 2002.

His work began in the mid-1980s as NC State sought a new basketball arena, but eventually became the Entertainment and Sports Arena in Raleigh. It is known as Lenovo Center today.

“It has done so much for the city.” Stroud told the News & Observer in 2019 when the arena turned 20. “I personally think the building is why national TV folks refer to us as ‘Raleigh’ instead of ‘Raleigh, North Carolina.’ It has helped us raise the identity of this city. Everyone knows where Raleigh is.” 

The road in front of the main entrance to the Lenovo Center is named E. Stephen Stroud Way.

Stroud was raised in Rutherford County before moving to Raleigh in 1961 to attend North Carolina State University. Stroud left NC State during his junior year after getting married and began a real estate career in 1965. He founded Carolantic Reality in 1972 and merged the company, then called NAI Carolantic Realty, with Tri Properties in 2020.

Stroud was named CEO of the year by the Triangle Business Journal in 2016, one of many awards he won in his long career.