A historic downtown Durham building that has sat empty for years has been bought by the nonprofit developer Self-Help, which plans to renovate the property and lease it to fellow Triangle nonprofit MDC.
Last month, Self-Help paid $1.4 million for the John Sprunt Hill building at 307 W. Main St. It will spend $800,000 renovating the four-story, 16,295-square-foot building.
MDC, which develops anti-poverty, job training and other programs for struggling communities, is based in Chapel Hill. It expects to occupy three of the four floors byJuly.
MDC plans to sublet the ground floor to another nonprofit.
This is the first commercial property Self-Help has purchased in Durham since 2003. The nonprofit targets neglected properties in prominent areas that fail to attract private development dollars.
As the revitalization of downtown Durham has gained steam, the need for Self-Help's services has lessened.
"We want to save our capital for things that can't get done otherwise," said David Beck, policy and media director for Self-Help.
Beck said Self-Help had been eyeing the John Sprunt Hill building for some time. The economic downturn made acquiring it more affordable.
The building is named for the legendary Durham banker who constructed it in 1925. The property has been vacant for seven years.
MDC, which has 35 employees, has been hoping to move to a larger space, said Richard Hart, the agency's communications director.
"We've been growing pretty steadily in the last few years," he said. "Everyone's beginning to recognize that there's a crisis in preparing people for the next generation of jobs."
Founded in 1967, MDC manages more than $25 million in training programs. It was recently awarded a large grant from the U.S. Department of Labor to develop green job training programs in North Carolina, South Carolina and Virginia.
The John Sprunt Hill building will be the sixth commercial property that Self-Help has redevelopment in Durham. It is located near Self-Help's headquarters on West Main Street.
