We are excited to share updates of the progress being made to improve the quality of life in Durham as we create a more livable and affordable community. Please visit this page for the latest information about the ongoing residential development efforts and housing assistance services funded by the Forever Home, Durham initiative.
Ground was broken in March 2023 on the construction of 72 new rental homes for low-to-moderate income families. This is the first of five planned phases in development on the former sites of 519 East Main and Liberty Street Apartments. DHA has partnered with Laurel Street Residential as co-developer. Total development cost: $20M for the first phase; City gap funding: $2.5M. The City expects to provide gap financing for future phases.
Willard Street Apartments (new construction)
This initiative includes the new construction of 82 affordable apartment homes for families on a downtown site formerly owned by the City of Durham. The project was completed by DHIC/Self Help in March 2021. A waiting list is being maintained for Willard Street Apartments leasing. More information is available on the DHIC website.
JJ Henderson Tower (renovation)
The complete rehabilitation and update of 178 rental homes serving low-income elderly households is underway. Residents are living on-site while their apartments are renovated. DHA, which owns the property, has partnered with California Commercial Investment Group and the Florian Group on the renovation. Total development cost: $31.2M; City gap funding: $2.9M.
JJ Henderson Apartments (new)
Adjacent to the existing JJ Henderson Tower, new construction of 80 affordable rental homes for elderly households started summer 2021. DHA has partnered with Laurel Street Residential on this development. Total development cost: $16.2M; City gap funding: $3M.
Laurel Oaks (renovation)
The rehabilitation of 30 family apartment homes owned by DHA was completed in March 2021. Total development cost: $1,799,121; City gap funding: $800,000.
Ross Road Apartments (renovation)
This 42-unit property was purchased from a private owner by Reinvestment Partners, a nonprofit affordable housing developer, and is being completely renovated. Total renovation cost: $4,683,270; City gap funding: $2,348,270.
Ashton Place will offer 51 units of affordable housing to seniors and households at or below 60% of the area median income (AMI). The City of Durham and NCHFA led the financing efforts which included federal low-income housing tax credit equity along with funding from 1st Mortgage and other developer sources. Construction on the $15 million apartment project began March 1, 2023 and is projected to be completed within 13 months.
Currently under construction, The Acadia will include 82 apartments with one, two or three bedrooms. Funding sources for the nearly $18.5 million project include federal low income housing tax credits, the North Carolina Housing Finance Agency, the City of Durham, 1st Mortgage and Laurel Street Residential. The completion date for the new, multi-family property is projected for early July, 2023.