About Hayti Reborn
Hayti reborn is a revitalization project inclusive of the redevelopment of areas in and around the Fayetteville Street Corridor without displacing the community and while ensuring their needs are at the core of all development plans.
Dr. Henry McKoy, Director Emeritus, (Former Principal Coordinator and Director) of this project speaks in more detail about the Hayti Reborn initiative:
Hayti Reborn Project
The first pillar is the hub: a 2000-acre environmentally sustainable, mixed-use urban development composed of more than 2 million square feet of commercial, retail and residential space. This hub will be erected in a newly created equity innovation district within Durham’s historic black community and Black Wall Street – Hayti.
The first phase of this plan will be constructed on a proposed development in a 20-acre site. The second phase will develop a 3.5 mile historically black corridor. A central component of this work, is to ensure that racial equity is a founding characteristic of this work and part of the collective aspirations of the broader community. This model is relevant at all levels of community ecosystem building: micro, macro, and meta level – or local, national, and international. The final phases will develop the rest of Hayti.
The second pillar, a R&D hub-supporting investment fund, will include funds focused on real estate, direct investment, and fund of funds. Each of those portfolio funds will directly support the development of the equity innovation district by tying investment in entrepreneurs, researchers, organizations, and impact investment firms to their presence in the hub.
The hub will house firms focused on racial equity R&D and investing, with a specific focus on scaling black entrepreneurs. Though impact investors will serve as anchor tenants in the hub, other individuals and organizations representing health, education, and economic development will round out the development. The four racial equity target sectors will include: poverty and inequality; energy and the environment; health and wellness; and education. The hub will welcome for-profit, not-for-profit, academic, and government agencies, but will center around community impact.