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April 15, 2011

Comments

clif

60 million (with renovations) for a tax appraised value of 2 million? Is this the current formula for development loans?

Erik Landfried

I'm very excited to see this building come back to life! Glad that there is a lot of interest in office use, but I hope they don't reduce the number of residential units much further. We still need a lot more residential units to attract the type of retail everyone wants to bring downtown.

Good luck!

Rob Gillespie

@clif-
The building is about 300,000 square feet. I'm thinking that the appraised value is a bit low. After renovation, there is no doubt that the appraisal will jump to around $50 to 75 million.

Cormoran

This will be a great improvement in connecting the Bright leaf are and downtown. Anyhow the real separation now comes from the wall of parkinglots that extends from Chapelhill st. and the loop to basically Corporation Av.

The old bus station and the corner of the new train station parking lot need a renovation and more light

Jim

I'd had thought that a significant amount of incubator wet lab space was being planned for start up companies (particularly those launching from Duke). No mention of that here, any insights?

Bull City Rising

@Jim -- I know what you're talking about, but I don't think that was ever linked to Parker's redevelopment. There was noise in the media about Blue Devil Partners planning to make the old research lab (the building at the NW corner of Duke and Main) available to Duke for what I assume fits what you're talking about, but it's been several years since I've heard more about that.

I think that Research Lab parcel, which is next door to some of the space Duke does lease for Phail Wynn's office, is still in the control of BDP, not Josh Parker. The massive Chesterfield building has never had provision for wet labs, to my knowledge; it was purely a factory building.

Jessalee

So exciting! I agree with Erik - I hope the residential units remain at their current level, we need more people living, not just working, downtown!

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