JV to develop major mixed-use project in downtown Durham

JV to develop major mixed-use project in downtown Durham
ATC Rendering Image: Courtesy of Hines

A joint venture between Capitol Broadcasting Co. (CBC), Hines and USAA Real Estate will develop a 700,000-square-foot mixed-use project on 11 acres bordering the west side of the bustling American Tobacco Campus (ATC).

Situated immediately adjacent to the nationally acclaimed American Tobacco Historic District in the high-growth market of downtown Durham, the new development features easy access on its south side to Highway 147, a vital Triangle artery connecting downtown Durham to the Research Triangle Park, I-40 and I-85. Just to the north is Durham’s burgeoning urban core featuring a host of amenities.

The mixed-use project will take shape on the prime downtown site previously occupied by University Ford. Plans for the first phase of the dynamic mixed-use community will be on eight acres and include 313,000 square feet of leasable space in two Hines T3 creative office buildings; 350 multifamily units in a 14-story high-rise residential building; and 90,000 square feet of experiential retail inclusive of a theater/draft house, prepared foods grocer and complimentary amenity shops and restaurants. Additionally, the project will include an activated central plaza and intimate pedestrian alleyways that will be actively programmed with interesting events and experiences enhancing the community.

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The Hines T3 creative office buildings, which stands for Timber, Transit and Technology, utilize all-timber construction to create a vintage aesthetic and warehouse environment with the efficiency and amenities of new construction. These will be the first of their kind in the market and join only a handful of markets in the country with these innovative buildings. Construction is expected to begin in late 2021 or early 2022.

Hines Senior Managing Director, Kurt Hartman said, “ATC West 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. It’s a natural fit with the numerous brick and beam buildings that already exist in Durham.”

Michael Goodmon, CBC’s senior vice president of real estate, said, “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. Working with the proven leadership teams at Hines and USAA, we are being every bit as meticulous and thoughtful with the creation of ATC West. 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.”