Gene Cochrane
CHARLOTTE, N.C. - The Duke Endowment will build a new headquarters building in the Dilworth community near uptown Charlotte that it expects to occupy in July 2013.
The Endowment purchased 1.8 acres on East Morehead Street, the site of the former Frankie's Italian Grille that closed in 2009, for $4.1 million, says Gene Cochrane, president of the private foundation.
In addition to housing its own offices, he says, the new 30,000-square-foot building will serve as a conference center for the Endowment and for nonprofits.
Established in 1924 by industrialist and philanthropist James B. Duke, the Endowment is the largest private foundation in the Carolinas.
Since 1993, it has leased office space in the Bank of America Corporate Center at Trade and Tryon streets.
The Endowment employs 36 people and in 2010 distributed nearly $110.5 million in grants.
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