CBC is not only in the business of maintaining, but of creating. Through CBC Real Estate, CBC develops properties across the Triangle, such as building a new state-of-the-art ballpark for the Durham Bulls in downtown Durham, adding the Diamond View office building in right field, and taking on the monstrous task of renovating the 16-acre American Tobacco Historic District. CBC also built a home for a new single-A baseball team in South Carolina, the Myrtle Beach Pelicans. All of CBC’s real estate projects are designed to help the community, bringing life to abandoned sections of town, providing jobs and creating homes for businesses that can help boost the Triangle economy.
In 2002, Capitol Broadcasting Company purchased the 16-acre American Tobacco Campus that lay abandoned in downtown Durham. Through work with city officials, CBC began the largest historic renovation project in the state, with the goal of opening one million square feet of office, retail and residential space to help revitalize the Bull City’s downtown.
The American Underground is the Startup Capital of the South (according to CNBC) and home to 275+ startups. American Underground builds on the legacy of Durham’s century old entrepreneurial spirit while creating the counter-story to Silicon Valley–namely, a startup scene rich in diversity, ideas, and deep city engagement. As one of twelve Google for Entrepreneurs tech hubs, American Underground helps early-stage startups grow and scale their businesses through innovative workspace options, a diverse community, top-notch business resources, and startup incubation programs.
Rocky Mount, NC
In May 2007, Capitol Broadcasting purchased Rocky Mount Mills, which included 300,000 square feet of mill and factory buildings along with about 30 mill houses and 30 vacant lots for mill houses. Including some open acreage, the property totals 50-60 acres. CBC is working to transform the 140-year-old textile mill in rural Rocky Mount, NC, into a craft beer incubator, adding loft-style apartments, retail and commercial offices as well.