Durham’s track record with development is a poor one. For that reason alone the city should keep its hands off Old Five Points. If they don’t, the intersection will become a monument to tax-sucking non-profit community action agencies that have good intentions but never seem to accomplish anything. If Old Five Points is to be rehabilitated successfully, it won’t be with city involvement. Risk-taking entrepreneurs who see value in these old buildings are their only hope.
There’s a fight on right now between those who want to raze the buildings and build some government-subsidized spec buildings (the city and UDI) and those who want the buildings renovated (the Old North Durham Neighborhood Association mainly). But both want to dump public funds into them. Better that the ONDNA find some gentrifying person or some businessman to do it privately. If they can’t, then that tells you all you need to know about this location (I was there five minutes taking pictures this morning and got panhandled twice). But at least the taxpayers of Durham won’t take another bath (Rolling Hills, anyone?).
