Stephen Stroud, a real estate developer behind multiple commercial properties across the Raleigh area, has passed away at the age of 83.
Stroud was raised in Rutherford County, North Carolina, and moved to Raleigh in 1961 to attend North Carolina State University. He left school in his junior year after getting married and started working in real estate. He founded Carolantic Reality in 1972 and in 2020 he merged the company, then known as NAI Carolantic Realty, with Tri Properties.
Stroud was responsible for several major office park developments in Raleigh and Wake County, and he gained national prominence for his role in developing a multi-use arena at North Carolina State. Stroud served as chairman of the Centennial Authority, the state-created governing authority for the arena, from 1995 to 2005. The venue, originally called the Raleigh Entertainment and Sports Arena, underwent several names and is now known as the Lenovo Center.
Stroud was also instrumental in bringing the Hartford Whalers of the National Hockey League to the arena in 1997, where they were renamed the Carolina Hurricanes.
“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.”
Outside of real estate, Stroud was also a former chairman of TrustAtlantic Financial Corporation and served on the boards of multiple nonprofit organizations including the Greater Raleigh Chamber of Commerce.
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