From the City of Raleigh on January 9, 2019:
The intersections at South Street, Lenoir Street, and Cabarrus Street have been converted into a 4-way stop intersection. Stop signs have been posted, and the existing overhead signals will remain in all-red flash mode for 30 days while travelers become familiar with the change.
After the 30 days have passed, electrical power to the signals will be turned off and the overhead signals will be removed.
Traffic Engineering studies signalized intersections throughout Raleigh regularly to qualify the continued necessity for traffic control devices. Some reasons signals are removed include improving traffic flow, reducing city operating costs, and enhancing overall traffic safety.
For more information on Traffic Engineering, please go to the City of Raleigh Transportation page.