On Tuesday, Capital Broadcasting Co. announced plans for its 700,000 square-foot-mixed-use project on an 11-acre tract alongside the American Tobacco Campus previously occupied by University Ford.
The development is a partnership between Capital Broadcasting Co., real estate firm Hines, and USAA Real Estate.
“Our goal is that the project will capture the essence of Durham in that it will become an authentic, inclusive, innovative place,” Hines director Paul Zarian told the INDY. “The architecture will pay homage to the historic warehouses at the American Tobacco campus next door. Green spaces will provide a welcoming environment for all.”
According to a press release, the development plans include a 14-story high-rise residential building that will include 350 multifamily units, and 90,000 square feet of “experiential retail” which may include a theater/draft house, grocery store, shops, and restaurants.
In response to a question from the INDY about what grocery store might fill the spot, Zarian said that discussions are underway with a “number of interested participants.” As to whether the retail space would focus on hosting local businesses, Zarian stated that Hines did not want to focus on a local vs. national ownership binary but would, instead, “find retail and restaurant partners that contribute to Durham’s authentic character.”
The project does not include affordable housing and units will be rented at market value, Zarian said (nearly in the warehouse district, apartments rent for $1,558 on average, according to RentCafe). The rentals will range from studio apartments to three-bedroom units.
The ATC news follows other major development plans in downtown Durham, including developer Four Points residential building plans next to Durham’s Central Park that will include one nine-story apartment tower and one 18-story apartment tower, with additional space for parking, retail, and restaurants. The Four Points development, which will share space with Motorco Music Hall—developers say they will incorporate the beloved venue into the plans—have received considerable community pushback.
Despite the pandemic, other developers have continued to unveil development projects in Durham. On July 13, real estate firm Wood Davis announced plans for Alta Davis, a 21-acre “luxury residential community” near the Research Triangle Park; later that week, the Raleigh-based company Level 5 Ventures announced plans for Laurel Meadow Townes and Summer Meadows Apartments, a 97-home development and 83-apartment compound, respectively. Both Laurel Meadow Townes and Summer Meadows will be built near Duke Regional Hospital.
CBC, which also owns the Durham Bulls and WRAL-TV, has owned the site of the former auto dealership since 2016 when it purchased the 601 Willard Street property for $28.8 million. According to the press release, construction for the ATC expansion is planned for late 2021 or early 2022.
CORRECTION: A previous version of this article incorrectly stated that CBC owns the Durham Bulls Athletic Park, information taken from the developers’ press release. CBC owns the team.
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