Following the construction industry and related legal topics in the United States.

Tuesday, May 15, 2007

New Urbanism Yields Public/Private Teamwork

The Durham, North Carolina City Council approved in principle a $6.1 million incentive package in connection with a major downtown redevelopment project proposed by local developer, Andy Rothschild. The Council's 6-1 vote was taken after hearing complaints from others in the community who had been unsuccessful in seeking such an incentives package. The package approved would include investments in streetscape and property tax rebates. The development is located in a historically African-American neighborhood near North Carolina Central University, whose administration supported the incentives award. If successful, the project will bring a vibrant mixed-use (office, retail, commercial) environment and stimulate business and private investment. The developer still needs additional funds to proceed, and may look to Durham County as another source.

For additional information about this interesting project, see The Herald-Sun, May 7, 2007. (This post published by Laura Luger of Womble Carlyle's real estate development and construction practice group.)


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