The redevelopment of Liberty Warehouse into apartments with ground-floor shops may be just the beginning of new development in the Durham Central Park area.
Potential developers are looking into buying other properties and buildings in the area, and additional business owners also are looking to set up shop in the lively district.
The area around Foster Street, Geer Street and Rigsbee Avenue is already home to the Durham Farmers’ Market at the Durham Central Park Pavilion, Fullsteam Brewery, Motorco Music Hall, Cocoa Cinnamon, King’s Sandwich Shop, the restaurant and bar Geer Street Garden, and multiple bars.
To add to the mix, the owners of The Blue Note Grill, a barbecue and rib restaurant that has live blues, bluegrass, rockabilly and other music each night on Durham-Chapel Hill Boulevard, has signed a lease to relocate to two bays of a building on Washington Street near the Durham Athletic Park.
Cree Inc.’s CEO Chuck Swoboda said company officials are looking at “strategic opportunities” to expand its product portfolio in a conference call about its third-quarter financial results Tuesday.
Swoboda indicated that the company will be looking to potentially make targeted investments in capacity and into strategic opportunities to enhance its product portfolio. He said some strategic opportunities may emerge over the next months as new LED technology accelerates and enters a consolidation phase.
Swiss pharmaceutical firm Novartis AG launched a major overhaul of its business Tuesday, unveiling a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly & Co. that heralds more restructuring in the fast-changing industry.
Switzerland-based Novartis has agreed to buy GSK's cancer-drug business for $14.5 billion, plus up to $1.5 billion more if certain milestones are met. Two GSK cancer drugs, Tafinlar and Mekinist, would give Novartis a strong position for melanoma treatments. A drug for metastatic breast cancer and one for chronic lymphocytic leukemia are two other drugs included in the deal.