Downtown Durham will be home to another senior-living affordable housing development in 2024 when the ribbon is cut on Ashton Place at 310 Jackson Street, with 51 new available units. Construction on the $15 million apartment project began on March 1 and is projected to be completed within approximately 13 months.
Co-developed by DHIC Inc. and Self-Help Ventures Fund, Ashton Place will offer 51 residential units to seniors and households with income at or below 60% of the AMI. In addition to the City of Durham and the North Carolina Housing Finance Agency (NCHFA), development partners include Duke University, the AJ Fletcher Foundation, JP Morgan Chase, and the Oak Foundation, together with Cline Design, Kimley-Horn, Weavercooke Construction and Community Management Corporation.
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.
Ashton Place is located within walking distance of a wide range of downtown area services, retail offerings and restaurant options, in addition to convenient access to public transportation. The development is the most recent example of the progress being made by the Forever Home, Durham initiative in its mission to address homelessness and housing insecurity in the city by creating a more affordable, livable, and inclusive community.