October 14, 2024

505 West Chapel Hill Featured in Durham Magazine

505 W. Chapel Hill St.

  • 4-acre parcel owned by the City of Durham
  • Originally built in the 1950s as offices for Home Security Life Insurance Company and most recently occupied by DPD, the building became vacant in late 2019
  • City Council selected Florida-headquartered The Peebles Corp in late August for a nearly $300 million redevelopment of the building, which is slated to include: 354 residential units (92 permanently affordable as 60% of the area median income and below) and 26 condos for sale; 250,000 square feet of labs and retail space, including a grocery anchor tenant; 791 parking spots; a centrally located plaza among the three buildings, which will be connected by walkways and feature public art.
  • It's yet to be determined if the historic building will be preserved and renovated into a 100-room hotel or replaced with a cultural center and museum.

See the full article in Durham Magazine.

September 26, 2024

Don Peebles joins CNBC ‘Power Lunch’

Don Peebles joins CNBC ‘Power Lunch’ to address the impact of the rate cut on real estate.

Click here to view the full interview.

September 19, 2024

Don, Katrina and Donahue Peebles Named to Haute 100 Miami List

The annual Haute Living's Haute 100 list for 2024 is officially here, celebrating the most influential names in Miami, including philanthropists, entrepreneurs, power couples, developers, creatives, athletes, hospitality power players, and more.

See the full list on HauteLiving.com.

September 9, 2024

Don Peebles joins ‘Maria Bartiromo’s Wall Street’ to discuss jobs report and 2024 election

Panelists Kevin Hassett and Don Peebles join ‘Maria Bartiromo’s Wall Street’ with their take on former President Trump and Vice President Kamala Harris’ economic agendas.

Click here to see the full interview.

August 29, 2024

Homeownership is ‘elusive’ to most Americans today: Don Peebles

The Peebles Corporation founder, Chairman and CEO Don Peebles assesses homeownership in the U.S., housing in NYC and rental costs.

See the full interview on Fox News.

August 23, 2024

Don Peebles joins ‘Fox & Friends’ to address economic opportunity

Former Obama fundraiser Don Peebles joins ‘Fox & Friends’ to discuss Vice President Kamala Harris vowing to create an ‘opportunity economy’ despite the Biden administration's failing inflation record.

Click here to watch the full interview on Fox & Friends.

August 22, 2024

Air Rights Projects Underway in Boston

Mid-century ‘urban renewal’ tore Boston apart. Air rights projects are starting to sew it back together again.

The first construction built over the Mass. Pike since Copley Place is opening now. And more are underway.

Read the full article in The Boston Globe.

August 21, 2024

The only choice here was Kamala Harris

Former Obama fundraiser Don Peebles discusses the handling of President Biden's exit from the 2024 race on 'Your World.'

Click here to watch the full interview on Your World with Neil Cavuto.

August 21, 2024

Durham selects Peebles to redevelop old police headquarters

The city of Durham has selected a new development firm to take a stab at redeveloping its former police headquarters property downtown after previous plans for the property fell through. 

Why it matters: The four-acre property, empty since 2018, is one of the last remaining large tracts of land downtown that the city has control over — meaning it could potentially encourage the creation of affordable housing on a site that it views as a potential landmark development on the west side of downtown. 

Driving the news: The Durham City Council voted this week to enter into an agreement with the Florida-based real estate company The Peebles Corp. to redevelop the property at 505 W. Chapel Hill St. 

Zoom in: The Peebles pitch for the property includes: 

  • 380 apartments, 92 of which would be set aside as affordable housing for those earning 30% to 60% of the area's median income
  • A 100-room hotel
  • 37,000 square feet of retail and 153,000 square feet of lab space
  • Nearly 800 parking spaces

The Peebles plan, which is estimated to cost $285 million, would keep the existing police headquarters building on the site, built by architect Milton Small in 1957, and turn it into a hotel. 

  • Peebles would then add two more buildings on the site. 
  • The project would include a $3.8 million subsidy from the city and use a 4% low-income housing tax credit to fund the affordable housing portion.

State of play: The city still needs to enter into a final agreement with Peebles, but the goal is to do a ground lease with Peebles rather than sell it the property.

Zoom out: The Peebles Corp. says it has developed more than 10 million square feet of projects across the country, though this would be its first project in the Triangle. 

What's next: A timeline for the project was not immediately available. A Peebles representative did not immediately respond to a request for comment.


Credit: AXIOS

August 20, 2024

New plan for former Durham police HQ costs $285M with hotel, apartments, retail

Durham City Council voted unanimously Monday to approve Florida-based The Peebles Corporation as the preferred development team for the property at 505 W. Chapel Hill St. This would be the first development in the Triangle by The Peebles Corporation.

Read more on the The Business Journals website.

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