CBC plans a high-rise development as the new neighbor of the American Tobacco Campus
Capital Broadcasting Co. plans to build a new 700,000-square-foot mixed-use development on 11 acres of land next to the American Tobacco Campus in downtown Durham, the company announced Tuesday.
CBC bought the site at 601 Willard St. four years ago for $28.8 million. CBC, international real estate firm Hines and USAA Real Estate announced that they would partner to build a 14-story residential high-rise with 350 units, two office buildings and retail space with potential for a movie theater, a draft house, a grocery store and restaurants.
“The expansion project will carefully and imaginatively fit with the historic look of the original American Tobacco campus while embracing the amenities, efficiencies and innovations of new builds,” said Kurt Hartman, senior managing director with Hines. “It’s a natural fit with the numerous brick and beam buildings that already exist in Durham.”
Renderings show a central plaza area allowing for outdoor dining and activity between the buildings.
The office buildings will be built to what Hines calls its “T3” standards — using “timber, transit and technology” to create a different and modern look for office buildings using timber for construction.
It’s the first time Hines will build these in the Triangle, having developed these office buildings in a few other U.S. metros such as Minneapolis and Atlanta, according to its website.
The first phase will build residential and office space on eight acres of the site. Construction won’t begin until late 2021 or early 2022. The site rests against an entry onto Highway 147.
“Capitol Broadcasting and many others put an enormous amount of care into the redevelopment of the original historic campus as well as our first expansion, Diamond View, overlooking the Durham Bulls Athletic Park,” said Michael Goodmon, CBC’s vice president of real estate. “Working with the proven leadership teams at Hines and USAA, we are being every bit as meticulous and thoughtful with the expansion project. We are honored to be a signature space in Durham and the Triangle, and we are committed to living up to the high standards we’ve set together.”
CBC redeveloped the American Tobacco Campus into what it is today. It also owns the Triple-A baseball team that plays at the Durham Bulls Athletic Park, as well as WRAL-TV.
Hines and USAA Real Estate are also working in the Triangle on the development of the Fenton mixed-use center in Cary.
The CBC development will be built around the same timeframe as GeerHouse, another huge Durham development that will have a residential high-rise and retail in it, which the popular Motorco Music Hall will be incorporated into.
This story was originally published July 28, 2020 at 12:02 PM.
CORRECTION: An earlier version of this story incorrectly reported that CBC owns the Durham Bulls Athletic Park, information taken from the developers’ press release. CBC owns the team.
