This model of the American Tobacco Historic District shows the scope of the renovations.
Capitol Broadcasting Company has been transforming the 16-acre American Tobacco Campus over the past two years, turning several blocks of abandoned warehouses into a thriving office community. The Triangle Business Journal recently lauded the project for its redevelopment with a Space Award.
“Jim [Goodmon, CBC President & CEO] put his money where his mouth was in some pretty dark times,” said Space awards judge Craig Davis. “If you knew what risks and underlying guidelines had to be dealt with, it is unbelievable.”
Bay 7 of the Washington Building has been transformed into a beautiful, workable area.
American Tobacco won in the Office Redevelopment category. After an official groundbreaking in June 2003, the first five buildings on tap for renovation began undergoing environmental clean-up and asbestos removal. The first workers moved in their space in June 2004, anchor tenant GlaxoSmithKline. Other office openings followed, and restaurants are currently renovating for openings later this spring. And the YMCA recently opened a satellite facility on the campus.
“Some wanted to tear it down, but Capitol Broadcasting Co.’s Jim Goodmon saw potential in the sturdy structures and in 1999 acquired an option to buy them,” said the TBJ feature article on the American Tobacco Campus’ award.
The Space Awards dinner and awards celebration took place on Friday, January 28, 2005, at the North Ridge Country Club in Raleigh.
The Triangle Business Journal and Cherry Bekaert & Holland LLP sponsor the Space awards to honor the Triangle’s most innovative commercial real estate projects and leaders. Space Awards were presented in 15 categories.
Thanks to Ben Casey & the American Tobacco District for these capcom photos.