Collaboration Will Revive Historic John Sprunt Hill Building

Ed Gaskins and Larry McBennett advised Chapel Hill based MDC, Inc. to structure a joint venture with Self-Help Ventures Fund. The two entities set up a limited liability company to acquire the historic John Sprunt Hill Building, a four-story office building built in 1925, located at 307 W. Main Street in downtown Durham. Self-Help provided most of the funding to buy and renovate the building, which adjoins the headquarters of Self-Help Credit Union. MDC will move its operations to Durham and lease the building for 10 years, continuing its 40-year history of promoting workforce and economic development primarily in the South. The target date for occupancy is July 1.