by Adriana Pop, Associate Editor
International nonprofit organization FHI 360 has opened its new headquarters at the recently completed LEED-certified Diamond View III building within the American Tobacco Campus in downtown Durham.
Last year, the company signed a 15-year lease to occupy more than half of the 130,000-square-foot, five-story structure, which has been developed by an affiliate of Raleigh-based Capitol Broadcasting Co.
“We’re thrilled to be the new home to the headquarters of FHI 360, an organization that is driving vital, positive change in the world,” said Michael Goodmon, vice president of real estate for Capitol Broadcasting Co. “We welcome FHI 360’s interest in playing an active part in our development as a community and look forward to supporting them as they grow and succeed here.”
The Diamond View office complex is a landmark in the revitalization of the city’s Historic District, where abandoned tobacco processing facilities have been renovated into office, laboratory and meeting spaces, helping transform Durham from a one-industry city into a center of medical research and innovation.
In other news, Federal Capital Partners has agreed to provide $10 million in financing for the Stanhope Center 800+ bed student housing development on Hillsborough Street in Raleigh.
According to the NewsObserver, Kane Realty and its partner, local developer Melton “Val” Valentine, expect to begin construction on the $70 million mixed-use project during the first quarter of 2014. Plans also call for approximately 30,000 square feet of retail space, the newspaper reports.
“We are excited to join Kane and Val Valentine in creating NC State’s premier mixed-use student housing facility at Stanhope Center. Its location adjacent to the NC State University campus is second to none,” E.J. Corwin, FCP senior vice president said in a news release.
Federal Capital Partners will provide an initial $2.7 million senior loan to finalize the community’s vision and design, which will be converted into a $10 million mezzanine loan once construction is under way.
Photo credits: www.americantobaccohistoricdistrict.com