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Published Tue, Mar 22, 2011 05:56 AM
Modified Tue, Mar 22, 2011 05:57 AM

Downtown Durham building has a future in

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BY JIM WISE - Staff writer

DURHAM -- Architect Scott Harmon got the Durham City Council's go-ahead Monday night to buy and renovate a century-old city-owned building downtown.

Harmon plans to move his Center Studio Architecture office into the 12,770-square foot building at Five Points. He plans to remodel a street-level section into six office or retail condominiums.

"I'm really excited," Harmon said. "Just need [the council] to make it official so I can get started."

The council approved the sale without comment.

The city bought the building in 1983 when it was accumulating property for a new civic center and hotel, and as recently as 2005 plans were under consideration for expanding the current convention center into the space. In early 2010, however, the city put it out for sale to prospective redevelopers.

A barber shop and tailor shop are currently leasing space in the building.

Harmon is paying $224,850. The building's tax valuation is $899,000, and, according to a city staff memo, its assessed value is $575,000. Its dilapidated condition and the cost of removing asbestos, however, justify the lower price.

The sale is a three-way transaction in which Preservation Durham will buy the building from the city and immediately resell to Harmon with covenants requiring the renovation to be in keeping with historical guidelines.

jim.wise@newsobserver.com or 919-932-2004

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