Source:


Deaton Investment Real Estate & The Wake County Apartment Association



Wednesday, April 20, 2011

Renovation of Durham Building Delayed


The sale of the old Liggett & Myers cigarette building (where my wife's grandparents worked for 30+ years), known as the Chesterfield building, is scheduled to close June 30th. The local purchaser, Josh Parker and his parnters, originally planned to take ownership and begin renovations this Spring, but early July is the new target date to begin construction.


The Chesterfield building has been geared up for redevelopment for years, but partnerships gone bad and lack of financing have continuously delayed the project. Nonetheless, it seems to be just a matter of time before "Chesterfield Partners" has controll and begins transforming the building into a mix of apartments, office and retail.


Redevelopment of the site is one of the last pieces needed to bring together Downtown and the Brightleaf Square area. A history of the project, photos and additional links can be found on this site, which happens to be the best blog about Durham there is.



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