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BullDurhamer

Chesterfield Building - Durham

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http://www.indyweek.com/news/archives/2015/06/25/from-death-science-to-life-science-the-chesterfield-building-in-durham

Now ... the former Chesterfield factory, which Liggett & Myers left in 2000, could become a hub for life sciences companies if the developer, Wexford Science + Technology receives $6 million in economic incentives to rehab the 284,000-square-foot building and erect a parking garage on nearby Gregson and Pettigrew streets, south of Brightleaf Square.

By a 7–0 vote, Durham City Council authorized the city manager to negotiate with Wexford to finalize the deal points. The proposal will come back to Council after its summer break, on Aug. 3.
 

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About friggin time. Does everything in the Triangle move at the pace of a tortoise? This was supposed to be completed 10 years ago.

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http://www.newsobserver.com/news/local/community/durham-news/article25155340.html

 

Chesterfield

Built in the late 1940s and originally dubbed the “New Factory,” the former cigarette plant has been vacant since the Liggett and Myers tobacco company closed its Durham operations in 2000.

Blue Devil Ventures, which began the L&M complex’s redevelopment into West Village, planned a makeover for the factory. That company, founded by former Duke basketball stars Brian Davis and Christian Laettner, hit financial reverses.

Subsequent legal maneuvering stalled redevelopment until Wexford Science & Technology acquired the 360,000 square foot building in late 2013, paying $7.5 million.

Plans are, according to city economic development Director Kevin Dick’s agenda memo (nando.com/1eb), for a $91 million capital investment to put 153,000 square feet of lab space, 78,000 square feet of offices, 42,000 square feet of “research and development innovation space” and 11,000 square feet of ground-floor retail into the factory building.

Wexford, which created the project subsidiary Wexford Chesterfield Parking LLC, also plans a parking deck and 221-space surface lot just to the south, across the N.C. Railroad corridor and future light-rail line. The city estimates that Chesterfield tenants will create 710 permanent jobs, with 560 temporary jobs created by construction, with work beginning this year and finished in 2016.

Incentive payments of $400,000 per year would begin in 2018, taking about 70 percent of the additional tax revenue the city projects the renovation to generate.

 
Edited by BullDurhamer

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http://www.newsobserver.com/news/local/community/durham-news/article37908696.html

 

The Durham City Council unanimously approved a $6 million economic development incentive agreement Monday night intended to help revive a tobacco plant renovation that has been stalled for years.

 Plans for the building between the downtown core and Brightleaf Square include an investment of $80 million to put 284,000 square feet of commercial space, 78,000 square feet of offices, 42,000 square feet of “research and development innovation space” and 11,000 square feet of ground-floor retail into the factory building.

The city estimates that Chesterfield tenants will create 710 permanent jobs, with 560 temporary jobs created by construction, with work beginning this year.

 

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WOW...sounds like a great project! Durham keeps getting better and Raleigh keeps doing what Raleigh does...nothing

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