See the full list in the Triangle Business Journal.

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.

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

Click here to view the full interview.

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.

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.

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.

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.

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.

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.

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. 

• Six developers submitted potential bids for the property, but city leaders preferred Peebles' plan. 

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. 

• In North Carolina, the company is part of a significant public-private partnership with Mecklenburg County on a project in uptown Charlotte. 
• That project, however, has been significantly delayed and construction has not started, causing frustration for many public officials in Charlotte.

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