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Durham_Transplant

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  1. Durham_Transplant
    I also just think it speaks to the mentality of leadership. They still absolutely view this as a family business and are really not the high profile types. I’ve been to Frank Holding’s house and while very nice/great neighborhood it’s about the most nondescript rich person’s house you can imagine.
  2. Durham_Transplant
    Durham is also much different from Charlotte or even Raleigh in that the downtown area had been neglected for so long that developers can freely choose where they want to put projects on land that can be acquired fairly cheaply (until recently at least). The site for the ATC expansion was a car dealership on 11 acres of prime real estate as were several of the other sites that have now seen large scale development along 147. The One City Center site was a vacant lot and obviously this tower is replacing a terribly aged mid-rise office building. Elsewhere in downtown major developments are going on empty sites, replacing an auto repair shop and a plumbing business. The sheer amount of available property is just crazy, although with the absolute boom the last few years most have been snapped up by now.
  3. Durham_Transplant
    I guess we won’t have much detail until they make a formal announcement next year but this image definitely shows a second building lightly shaded in on the other side of the tower. Maybe slightly taller than half the height?
  4. Durham_Transplant
    It’s an impressive looking building. Will be interesting to see whether the next phase is a hotel as alluded to in the brownfield filing or something else. Obviously they already have a hotel in the middle of downtown so would be well positioned to judge the opportunity. So now we have the South Bank project, next phase of Durham ID and and ATC West all solidly underway. Wonder when we will see renderings for the Northgate project. They’ve already filed plans with the city for the preliminary site layout….
  5. Durham_Transplant
    I wonder if that second residential building and office tower are still considered a “second phase” or if they plan to fast track that piece. This is the first time I’ve seen specific details published for the office tower.
  6. Durham_Transplant
    It seems like that group pulled out of the project so will be interesting to see what replaces it. Top Golf is fun though and now I won’t have to go all the way to Drive Shack when my dad and brother want to go.
  7. Durham_Transplant
    Yes it is. Regarding the breakdown of units, One City Center has 30 condos and 109 apartments. I imagine the mix here will be somewhat similar. Ground level will be retail but no office planned for this building so not sure if the base of the tower will just be additional apartments or…?
  8. Durham_Transplant
    This is great news for the vision of American Tobacco and downtown as a whole. Love to see more people working downtown and contributing to a more vibrant 24/7 atmosphere. The future of RTP definitely seems to be trending toward large scale lab and manufacturing facilities that truly demand large footprints.
  9. Durham_Transplant
    Longfellow and Alexandria Real Estate have gone absolutely nuts in Durham/RTP recently. A quick summary of what I can recall: Longfellow: -Next phase of Durham ID -Signed on to develop 220k square foot lab/office building at Hub RTP -Early 2021 acquired 20 acres next to the Discovery at Perimeter Park complex with plans to develop 4 buildings totaling 480k square feet -Early Sept acquired Triangle 54 site with plans to develop 456k square feet of space for life science tenants Alexandria: -This week acquired recently vacated Research Triangle Foundation HQ site at 12 Davis Drive (sitting on 18 acres) -In August acquired 100 acre Genesis at RTP site situated off Cornwallis -In April paid $42MM for 98 acres adjacent to Parmer RTP which it acquired the majority of for $590MM in 2020 These are two of the largest, most sophisticated and connected life science real estate developers out there so this is a huge deal.
  10. Durham_Transplant
    I’m definitely not tired of it either! The collection of leading biotech companies making major investments in RTP right now makes me giddy.
  11. Durham_Transplant
    One of the individuals from Austin Lawrence participated in the State of Downtown Durham summit a few weeks ago and said they hope to be able to share more details soon (hopefully this month). Carolina1792 pretty much covered what was said. I posted a recap here: http://forum.buildingbullcity.com/State-of-Downtown-Durham-Event-April-21st-td691.html
  12. Durham_Transplant
    I agree that the actual Apple employees will likely live all over the Triangle (probably not Holly Springs though...) but it’s somewhat irrelevant because the gravitational pull of Apple and Google will drive significant growth all over the region.
  13. Durham_Transplant
    It’s honestly still surreal to think about Apple and Google making these announcements in the span of a month. Sure it’s been talked about forever and always felt like a “matter of time” scenario but this feels bigger and faster than most anticipated. Some part of me always felt like the political landscape, transit, size, whatever would prevent something of this scale from really happening. This absolutely will be a watershed moment for the Triangle in terms of the companies, talent and capital we are able to attract going forward. Exciting times ahead folks.
  14. Durham_Transplant
    This seems to be serving as the general Durham thread so I will cross-post here. I attended the State of Downtown Durham Summit today and one of the segments included commentary from developers of the major projects underway. Link to my summary below but, among other things, sounds like more details of the Five Points development will be revealed soon. Will be a 27+ story tower, no office space so will solely be focused on retail and residential. Link to Building Bull City
  15. Durham_Transplant
    I find it curious how little has been said publicly about a project of this magnitude. There was the blurb in January about CBRE being awarded the leasing agreement. There is the presumed rendering from the Northwood website. And now a few articles about the mall assets being auctioned off in advance of demolition starting this summer. Just seems like there is usually quite a bit more fanfare and publicity about developments this size. Downtown Durham Inc is hosting a “State of Downtown Durham” virtual event next Wednesday and one of the segments is exclusively focused on the major development projects underway. Jeff Furman of Northwood is one of the panel members for that discussion. I’m sure Northgate will be brought up and will be interested to what extent he comments on it. Will be in attendance and will share anything of interest here.
  16. Durham_Transplant
    Everything in the mall being auctioned off right now. All signs point to demolition starting summer 2021. Will be really exciting to see this project take shape. Durham is really on the cusp of some big things right now.
  17. Durham_Transplant
    Forgot to add the most obvious piece around the ATC expansion: timing. Google has said they want to/plan to be in the temporary space for 3 years (mid 2024). The ATC expansion is expected to start late 2021/early 2022. Seems to align pretty well.
  18. Durham_Transplant
    I would certainly agree that the ATC expansion is probably the front runner for a few reasons: —More of a “campus” feel than other available options —The aesthetic that you mentioned appears to align with the design these companies favor —Its literally next to 147, mostly easy entry/exit aside from Bulls and/or DPAC events —Close proximity to most of the key downtown activities That said, I’m sure any of the developers with a project underway that could meet Google’s needs will be fighting like crazy to land them as a tenant. How about this for a less obvious option? Longfellow could build them a fairly customized building in the heart of downtown as part of the long-term Durham ID campus plan.
  19. Durham_Transplant
    Totally agree about transit. And it’s just going to get more difficult to solve the problem as the population explosion continues in places like Clayton, Holly Springs, etc. Perhaps a more significant shift to hybrid work structure helps there but we absolutely need to be able to move people around the region more effectively for personal and professional needs. Totally agree about transit. And it’s just going to get more difficult to solve the problem as the population explosion continues in places like Clayton, Holly Springs, etc. Perhaps a more significant shift to hybrid work structure helps there but we absolutely need to be able to move people around the region more effectively for personal and professional needs.
  20. Durham_Transplant
    I agree that the region is a bit under appreciated in the national discussion but honestly I’m okay with it. The decision makers clearly understand the value of the Triangle, as evidenced by the wave of recent announcements, and the growth trajectory here feels much more sustainable long term.
  21. Durham_Transplant
    Very true, feels like the region has been slowly building toward something big but a few of these moves could really be the catalyst to put things over the top.
  22. Durham_Transplant
    Huge day for the Triangle. The Google announcement...wow. Would have been virtually inconceivable even 5 years ago. People across the country will take note of that kind of investment from a name brand of that caliber. Exciting things ahead across the whole region.
  23. Durham_Transplant
    The next few years have the potential to be absolutely monumental for Durham. The combination of ATC2, the police HQ redevelopment, South Bank redevelopment (anticipated) and Northgate redevelopment will absolutely transform the city.
  24. Durham_Transplant
    Cross-posting from the Cary thread but Wegmans will no longer be opening a location at Fenton.
  25. Durham_Transplant
    Wegmans backing out of the Fenton project. Ouch, that will definitely hurt.
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