The Durham Performing Arts Center opened November 30, 2008 as the largest performing arts center in the Carolinas at a cost of $48 million. The DPAC hosts over 200 performances a year including touring Broadway productions, high-profile concert and comedy events, family shows and the American Dance Festival. Operated under the direction of Nederlander and Professional Facilities Management (PFM), DPAC has twice been listed as the #1 performing arts organization in the Triangle region by the Triangle Business Journal. Construction of the DPAC was part of a larger plan to redevelop downtown Durham by the Capitol Broadcasting Company, and includes other nearby properties such as the American Tobacco Historic District, the Durham Bulls Athletic Park, and the studios of the CBC-owned Fox 50 TV station.