The Carmichael Building, a former tobacco warehouse built in 1926, was owned and operated by Liggett & Myers Tobacco Company. Telesis CDE supported the $48 million renovation of the building into lab, research, and office space for Duke University’s Molecular Physiology Institute with $6 million of the funds secured through a New Market Tax Credit allocation. The institute conducts research on human genetics, diabetes, and obesity among many other subjects. The Carmichael Building is part of a larger downtown Durham revitalization plan, and is part of the Durham Innovation District, dubbed “Durham.ID,” which will eventually include 1.7 million square feet of lab, office, and retail space, and 300 residential units in downtown Durham.