Quick hits are posts about development news as I hear about them! If you have feedback on the format, please share in the comments below!
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| Rendering of 500 E Main St |
Neighborhood:
Downtown
Size:
305 affordable residential apartments
250 market rate apartments
Parking Decks with 1,902 spaces
41,340 SF of commercial
Purchase Price:
N/A
Estimated Cost:
$98.6 million (this may be leaving out some of the commercial development costs)
Expected Completion Date:
2023
Details:
Mix of affordable and market rate residential units. Commercial space with area for a Pre-K child care facility. Large parking decks.
Apartments amenities include lounge/cafe, fitness center, multi-purpose room, computer/business center.
Developer:
Laurel Street Residential & Zom Living
Design: Little Diversified Architectural Consulting and Neighboring Concept
Construction: Balfour Beatty, WeaverCooke, and Harmon Construction
Local Development Consultant: James Rogers of Ashley’s Corner, LLC
Legal: Banks Law Firm
Durham has been researching the best use of 300 and 500 E Main Street for a while and they have finally chosen a project. It's a big one too! It features mixed income, mixed use, a Pre-K and ground level retail. It also features a TON of parking. However, this project easily could have been ONLY parking decks, so it is great to see all of these other uses as well.
300 & 500 E Main Street should really activate that part of downtown and provide affordable options in a central location. Combined with the redevelopment efforts of the Durham Housing Authority, there should be more affordable units in desirable locations that allow for access to downtown jobs.
