Hines JV to Develop North Carolina Mixed-Use Project
- Jul 29, 2020
A joint venture comprised of Hines, Capitol Broadcasting Co. and USAA Real Estate has announced plans to develop a 700,000-square-foot mixed-use project in downtown Durham, N.C., that will feature 350 units in a 14-story residential building.
Located on 11 acres on the west side of the American Tobacco Historic District, the ATC West development will be built in two phases on the site of the former University Ford. The multifamily housing will be included in the first phase, which will be built on 8 acres and also feature 313,000 square feet of space in two Hines T3 creative office buildings and 90,000 square feet of experiential retail.
The retail offerings will include a theater/draft house, prepared foods grocer and other shops and restaurants. The project will also include an activated central plaza and pedestrian alleyways that will be programmed with community-oriented events and experiences. The Hines T3 creative office buildings, which stand for Timber, Transit and Technology, will use all-timber construction. They will be the first of their kind in the market and among a handful of markets across the U.S. with these features. Construction is expected to begin in late 2021 or early 2022.
Hines Senior Managing Director Kurt Hartman said in a prepared statement ATC West will be designed to fit in with the historic look and brick and beam buildings of the original American Tobacco campus, that was redeveloped by CBC, a communications company that owns broadcasting stations and other media entities along with the Durham Bulls Baseball Club, Bull City Hospitality and American Underground startup hub. The Durham Bulls, which CBC owns, plays at ATC neighbor the Durham Bulls Athletic Park, which was built and is owned by the City of Durham.
Also this week, Hines began construction of T3 Bayside’s first phase in Toronto, a 13-acre master-planned community along Toronto’s eastern waterfront. The 10-story tower will be a 251,000-square-foot speculative office building. It will be one of two mass-timber buildings that will be the first part of Bayside Toronto’s nearly 500,000-square-foot workplace components.