Development Finance Initiative

Making the Broughton District: A Public-Private Partnership in Morganton, NC

 Hotel Avery Broughton District

Broughton District Master Development Plan

The hospital functions currently located in the Historic Broughton Hospital campus in Morganton and Burke County, North Carolina, are expected to move to a new facility on adjacent property. This will leave more than 600,000 square feet (SF) of vacant or underutilized space in well-maintained historic buildings, some of which are over a century old. Recognizing the scale of the challenge, the North Carolina General Assembly directed a study of potential uses of the historic campus and adjoining State property, 800 acres in total, to include analysis of the costs and benefits of different redevelopment approaches.

This Broughton District master plan was completed under the leadership of the Development Finance Initiative (DFI) at the UNC School of Government as an update to its original report, Reimagining Broughton: A Reuse Study of Historic Broughton Campus which was published in 2016 in accordance with Section 15.20 of Session Law 2014-100 enacted by the North Carolina General Assembly.

The updated Broughton District master plan is a 10-year public-private development strategy to attract $182-$192 million of private investment for the mixed-use development of five opportunity sites within the District. The private projects include hotels, retail, for-sale residential, rental apartments, and an active adult community. The full Broughton District is located within a designated Opportunity Zone. 

The private investment is supported by phased public investment of $81 million in amenities, infrastructure and public facilities to support public goals while enabling and complementing the mix of private uses and enhancing the marketability of the District. Within this phasing strategy is the identification of some “early win” projects that can build momentum for larger investments in the District and can demonstrate the capacity of public agencies and private investors to execute a coordinated public-private partnership.

In May 2021, an "early win" project following the Silo Ridge profile--now called Murphy's Farm--was financed and broke ground.

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