Business: Local and State

May. 20, 2015 @ 07:01 PM

Old Crown Park Hotel downtown set for new life

Chicago-based AJ Capital Partners has acquired the shuttered Crown Park Hotel for $7.6 million, and plans to renovate it to add another hotel to the downtown Durham portfolio. The company will begin renovations to the 150-room hotel at 600 Willard St., later this year, with plans to have it open by late 2016.

May. 19, 2015 @ 06:50 PM

Budding biotechs convene in Durham

Two out of state agricultural biotechnology companies came away with $12,500 in funding Tuesday after winning a pitch contest at the North Carolina Biotechnology Center.

May. 19, 2015 @ 08:50 AM

ACC Tournament visitor spending could exceed $16M

Durham, DBAP hope to become permanent home for ACC baseball tournament

May. 17, 2015 @ 03:26 PM

The Buzz: Hendrick opens Southpoint dealership

Hendrick Automotive Group has opened its new dealership at 127 Kentington Drive, adjacent to The Streets at Southpoint.

May. 17, 2015 @ 03:22 PM

Business briefs: NC Mutual gets rating upgrade

Insurance rating and information company A.M. Best has upgraded the financial strength rating to B(Fair) from C+ (Marginal) and the issuer credit rating (ICR) to “bb+” from “b-for Durham-based North Carolina Mutual Life Insurance Company.

May. 17, 2015 @ 03:19 PM

Career briefs: Chapel Hill physician joins Cary group

Sangeeta Varanasi, M.D., of Chapel Hill, a board-certified internal medicine physician, recently joined Cary Medical Group.

May. 16, 2015 @ 04:20 PM

FULL BLOOM: Iconic Bull City rose grower welcomes visitors

The thermometer was nearing 90 degrees Saturday but the warm weather didn’t deter area residents from coming out to Witherspoon Rose Culture’s First Bloom Festival.

May. 16, 2015 @ 03:52 PM

The Colonial Inn: What does the future hold?

After more than a decade of inactivity, The Colonial Inn may see new life after a report outlined its development potential. The Town of Hillsborough spent $8,500 on a contract with the UNC School of Government’s Development Finance Initiative (DFI) to explore the town’s options for the 176-year-old inn, currently owned by Francis Henry.

May. 19, 2015 @ 02:30 PM

Developers unveil downtown loop report

After hosting workshops with elected officials, planners and developers in March, Cleveland and Church Partners has released a report of recommended project plans for converting the downtown loop. The developers believe the current one-way layout is strangling development potential, and the loop should be converted into a two-way traffic network.

May. 12, 2015 @ 11:30 AM

Former GSK building sold to California company

Rubenstein Partners and Grubb Properties have sold the 86,895 square-foot Newcastle South building to San Francisco-based Drawbridge Realty for $14.75 million.

May. 11, 2015 @ 09:18 PM

Lenovo lays off 165 in RTP

Lenovo began laying off employees in its Enterprise Business Group Monday, a move that affects approximately 165 employees in Research Triangle Park.

May. 10, 2015 @ 03:44 PM

The Buzz: Streets at Southpoint Talbot's to host benefit

A new firm providing legal services, Legal Direction, has opened at 4711 Hope Valley Road, Suite 4F. ... The Streets at Southpoint Talbot’s will host a benefit night for the Durham Symphony Orchestra on Wednesday, May 13.

May. 10, 2015 @ 03:32 PM

Business briefs: Venture capital workshop set May 20

A lunchtime workshop presented by the N.C. Secretary of State’s Office at Durham’s First Flight Venture Center on May 20 will offer fledgling entrepreneurs and small business startups a one-hour crash course on issues related to raising venture capital.

May. 10, 2015 @ 03:19 PM

Career briefs: GHS psychiatrist honored

Granville Health System’s Stephan Baum, M.D. has been elected Distinguished Fellow of the American Psychiatric Association. The Distinguished Fellow is the highest membership honor the APA bestows upon its members.

May. 11, 2015 @ 12:47 AM

HOMEBREWERS: Craft brewing revival begins at home

According to Homebrewers Association’s 2014 Homebrew Supply Shop Survey, revenues increased by 10 percent in 2013 for shops that supply homebrewing equipment. Durham’s only supply shop, Bull City Homebrew, saw double digit growth in customers for several years, said general manager Nate Cowles. And many of the founders of Durham’s popular breweries started out as Cowles’ customers.