Duke commits $203M to Triangle amid pressure over affordability
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Photo Illustration: Lindsey Bailey/Axios. Photo: Discover Durham
Duke University says it will invest $203 million over the next three years to help make living in the Triangle more affordable.
Why it matters: The university has been under increasing pressure to contribute more to the community, especially in Durham, where its land holdings are largely tax-exempt.
What they're saying: "The Triangle is growing very fast, but our observation is that not everyone has shared in that growth," Ian Brown, who leads Duke Health's community and social impact initiatives, told reporters on Wednesday.
- "This isn't about Duke doing something for the community. It's Duke recognizing that we are part of the community, and we rise or fall together."
Driving the news: In an effort to address gentrification and improve economic mobility, Duke's HomeGrown initiative promises to hire more locals, buy more from Triangle-based businesses and spend more on affordable housing.
- Duke has massive purchasing power, and says it will spend $45 million at local businesses buying goods and services during the three-year push. Construction work for local contractors adds another $120 million.
- The remaining $38 million is for the affordable housing push. It will mostly be given to community development banks, helping finance construction. Some employees can get down payment assistance when buying their first homes.
Between the lines: Ensuring lower-wage employees can live where they work is a challenge for Triangle employers. The region's housing costs rose rapidly over the past decade.
The big picture: Duke is one of the largest employers in the region, especially through its health system, but the Trump administration has cut grants and threatened higher ed institutions nationwide.
- Last year, Duke froze hiring, eliminated positions and offered buyouts to cope with the uncertainty.
State of play: Meanwhile, a coalition in Durham was gaining momentum with its call for Duke to pay $50 million to the county and city in lieu of property taxes, since North Carolina exempts most land owned by educational institutions and nonprofit hospitals.
- A comparable institution like Harvard pays Cambridge and Boston a fraction of that, the Harvard Crimson reports. The figures vary by year, but range closer to $10 million.
- The coalition, Duke Respect Durham, hasn't yet responded to Wednesday's announcement.
Zoom in: Duke, which recently raised its minimum wage to $20 an hour, is growing its presence in Wake County with new health care clinics to meet demand and "improve access for patients closer to where they live and work," community affairs director Adam Klein tells Axios by email.
- It's investing in internships through Wake and Durham's technical colleges at the same time, and expanding a job placement program for formerly incarcerated people in Raleigh.
- StepUp's Laura Martin says that the program in Durham has been very successful, "helping place people into low-barrier, high-quality jobs at Duke" that they've retained.
What's next: The university will provide progress reports annually.