New Markets Tax Credit Coalition

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Capitol Building

Conversion of a building into approximately 45,000 square feet of restaurant, retail and office space, of which Dock's restaurant and entertainment complex comprises over 35,000 square feet.

Investment

  • NMTC Amount: $2,897,439
  • Total Project Cost: $11,414,876

IMPACT

  • 140 FTE jobs
  • 175 construction jobs
  • Rehabilitation of a vacant or under-utilized historic structure.
  • 45,000 sq. ft. of real estate

Investor

Project Description

Henderson Holdings, LLC converted the building into approximately 45,000 sq. ft. of restaurant, retail and office space, of which Dock’s restaurant and entertainment complex comprises over 35,000 sq. ft.. The former Capitol Department Store is the most significant historic department store in Fayetteville, and one of the most significant buildings in southeast North Carolina because of its striking Modernist facade of marble and mosaic, its grand second story balcony, and immense convex window. The rehabilitation of this historic building also created a lasting economic impact in a census area with severe poverty and unemployment.

MAP

Address: 126 Hay Street, Fayetteville, NC 28301

Census Tract: 37051003800

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NMTCs address need for additional health services in medically underserved area
Financing to enable North Carolina Central University to enhance critical medical care at a new community health center in Halifax County, NC.