The Triangle LivingThe Triangle Living
  • Home
  • Latest News
  • Real Estate
  • Business
  • RTP
  • Chatham Park
  • Food and Drink

Subscribe to Updates

Get the latest Real Estate, Finance news directly to your inbox.

What's Hot

Let’s Get High

May 25, 2023

Seaside Snacks

May 25, 2023

New home sales climbed more than expected in April

May 23, 2023
Facebook Twitter Instagram
Facebook Twitter YouTube Telegram
The Triangle LivingThe Triangle Living
Consult Subscribe
  • Home
  • Latest News
  • Real Estate

    New home sales climbed more than expected in April

    May 23, 2023

    Examining how Raleigh’s proposed budget will impact transportation, housing

    May 17, 2023

    New home construction rose in April after a dip in March

    May 17, 2023

    ‘We need more of it’: Construction begins on new affordable housing development in Raleigh

    May 10, 2023

    More homes sitting on market and selling under asking price, new housing data shows

    May 9, 2023
  • Business
  • RTP
  • Chatham Park
  • Food and Drink
The Triangle LivingThe Triangle Living
Home » Durham County considering spending $12 million on shopping center in Hope Valley area
Real Estate

Durham County considering spending $12 million on shopping center in Hope Valley area

Press RoomBy Press RoomAugust 8, 2022No Comments4 Mins Read83 Views
Facebook Twitter Telegram Tumblr Reddit WhatsApp
Share
Facebook Twitter LinkedIn Pinterest Email

Durham County negotiated a $12.1 million price for the Shoppes of Hope Valley, where it intends to move the Board of Elections. The strip mall is on Martin Luther King, Jr. Parkway at Roxboro Street.

Durham County negotiated a $12.1 million price for the Shoppes of Hope Valley, where it intends to move the Board of Elections. The strip mall is on Martin Luther King, Jr. Parkway at Roxboro Street.

BC Wood Properties

Durham County will consider purchasing several properties totaling over $20 million during a Monday night meeting.

The largest property on the table is a strip mall on over 17 acres with an empty grocery store location intended as a new home for the Durham County Board of Elections.

The Shoppes of Hope Valley was built in 2002 on Martin Luther King Jr. Parkway at Roxboro Street, anchored by a Kroger with 25 additional storefronts and a 590-space parking lot.

Kentucky-based real estate developer BC Wood Properties owns the shopping center through an LLC. A $12.1 million contract was negotiated, records show, with BC Wood agreeing to first replace the roof and HVAC systems and seal coat the parking lot.

Director of Elections Derek Bowens said the Board of Elections is currently split between two locations: a main office downtown and a warehouse on South Alston Avenue.

“What this will do is consolidate our spaces into one facility and also give us the additional space we need for our ever-expanding operations,” Bowens said.

Bowens said if approved, the move to the vacant 55,000-square-foot space could happen next year.

The agenda item said there are “no current plans for any changes to the remainder of the shopping center.” Sixteen of the storefronts are leased to a variety of tenants, including Family Dollar, restaurants, cellphone companies and the N.C. Division of Motor Vehicles.

The county is considering a limited obligation bond or bank financing.

Bull City United could move into former Boys & Girls Club

The county will also vote on whether to spend $6 million to buy the former Boys & Girls Club in the historic Hayti neighborhood.

The two parcels there total 2.61 acres and last sold in 2019 to an LLC registered to private investor Pablo Reiter for just over $2 million.

Bull City United, a violent crime and gang intervention program funded by the county and city, had initially hoped to lease the vacant building sandwiched between East Pettigrew Street and the Durham Freeway.

“Before a lease could be negotiated, the owner made the decision to sell the property rather than enter a long-term lease,” county staff wrote in an agenda item.

Bull City United sends “violence interrupters” into some neighborhoods to help resolve conflicts, identify and help treat people at high risk of violent behavior, and reshape social norms around gun violence. The public health department launched the program in 2016.

The county is similarly considering a limited obligation bond or bank financing.

DUR_20210621_Hayti-2.jpg
Pictured is a mural on the exterior of the now abandoned old Boys and Girls Club of Greater Durham building along East Pettigrew Street in Durham, in the Hayti neighborhood. Laura Brache lbrache@newsobserver.com

A third property is also set for purchase — a tract of land next to Durham Technical Community College.

The nearly 6 acres were privately owned by Randall and Leslie Brame, who gave Durham Tech the first option to buy and negotiated a $2.3 million price.

The money would be drawn from the fund the county uses to pay its debts.

The Board of County Commissioners meets at 7 p.m. Monday and will vote on all three purchases.

This story was originally published August 8, 2022 5:43 PM.

Related stories from Durham Herald Sun

Mary Helen Moore covers Durham for The News & Observer. She grew up in Eastern North Carolina and attended UNC-Chapel Hill before spending several years working in newspapers in Florida. Outside of work, you might find her biking, reading, or fawning over plants.



Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous Article$20M: County will buy Durham strip mall, other properties
Next Article NCRLA Crowns Winners of Chef Showdown

Related Posts

New home sales climbed more than expected in April

May 23, 2023

Examining how Raleigh’s proposed budget will impact transportation, housing

May 17, 2023

New home construction rose in April after a dip in March

May 17, 2023

‘We need more of it’: Construction begins on new affordable housing development in Raleigh

May 10, 2023

More homes sitting on market and selling under asking price, new housing data shows

May 9, 2023

‘I just cry’: Families spend years on subsidized housing waiting lists

May 9, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Seaside Snacks

May 25, 2023

New home sales climbed more than expected in April

May 23, 2023

Veggie Tales

May 19, 2023

Subscribe to Updates

Get the latest Real Estate, Finance news directly to your inbox.

Advertisement

Your Top Source for the latest Real Estate, Finance, Business and general news about North Carolina, Follow us to get the latest news from the most trusted sources.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Top UK Stocks to Watch: Capita Shares Rise as it Unveils

January 15, 2021
8.5

Digital Euro Might Suck Away 8% of Banks’ Deposits

January 12, 2021

Oil Gains on OPEC Outlook That U.S. Growth Will Slow

January 11, 2021

Subscribe to Updates

Get the latest Real Estate, Finance news directly to your inbox.

© 2023 The Triangle Living. All rights reserved.
  • About
  • Privacy Policy
  • Terms and Conditions
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.