401 Arts, the arts-focused development on Foster Street in Durham's Central Park District, is currently home to tenants such as Bull City Arts Collaborative
, Piedmont Restaurant
bakery and café. Rumors that real estate development company Scientific Properties
has put 401 Arts on the market have been circulating for some time
Today, Scientific Properties CEO Gary Kueber confirmed for the INDY
that the rumors are true: 401 Arts is up for sale. The INDY
spoke with Kueber in the process of reporting on Bull City Arts Collaborative business Horse & Buggy Press
(see tomorrow's paper for the story). How the potential sale will affect current tenants is unclear.
401 Arts was spearheaded by Scientific Properties founder Andy Rothschild, in part to accommodate artists who were being displaced by his renovation of the Venable Center
. Development began in 2005, with early tenants such as Branch Gallery, which has since closed
, moving in at the beginning of 2006.
401 Arts can be seen as a test run for Scientific Properties' similar but much larger Golden Belt
redevelopment—which they also put up for sale earlier this year
. Golden Belt and 401 Arts are both currently still listed under Scientific Properties' holdings on their website.