Capitol Broadcasting expanding American Tobacco holdings

Capitol Broadcasting, the owner of the American Tobacco Historic District which is home to numerous high-tech firms, is talking with the City of Durham about a new hotel and other additions to the nearby Durham Performing Arts Center.

The parent firm of WRAL also has acquired two more historic buildings through a subsidiary.

City Council members discussed the DPAC additions at a public meeting on Thursday. The project includes a 134-room hotel, a new “President’s Club” lounge and additional restroom facilities.

Michael Goodmon, vice president of real estate for Capitol Broadcasting, told WRAL in a statement that more details will be disclosed later.

“The vision for American Tobacco’s renaissance has always included the kind of top drawer amenities that will reinforce the campus’ status as a world-class destination for entertainment and business,” he said. “As we approach the tenth anniversary of the campus’ rebirth, we remain wholeheartedly committed to this comprehensive vision. We will have more news to share as our plans take shape.”

The Council is expected to approve the project at a meeting on Sept. 16, according to the Durham Herald-Sun.

Goodmon also confirmed that Capitol’s Blackwell Management has acquired two additional historic buildings at the campus. The buildings have been renovated to contain numerous apartments as well as retail and office space.

“Blackwell Management has purchased the Noell and Old Bull buildings at American Tobacco Campus,” he said. “The change in ownership will be seamless for current residential and commercial tenants.

“We look forward to completing unfinished apartments in the buildings, many of which we expect to be ready for market at some point in 2014 – our 10th anniversary – and to the positive impact this work will have on American Tobacco’s renaissance and on Durham,” he added.

Capitol recently expanded its American Underground co-working space in Durham to a second downtown location known as Underground at Main. The company also is expanding the Underground to a Raleigh location.