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Developer files plans for $343M mixed-use project in Durham
The first phase targets 332 apartments, with 100-plus units designated as affordable, workforces, and market-rate before a late-2028 completion goal.
An Atlanta-based developer has filed site plans for a $343M mixed-use project, Tribute Rising, in downtown Durham’s Hayti community, according to the Triangle Business Journal as cited in Bisnow.
The project will be built on a 15-acre site on West Lakewood Avenue, across from Durham Bulls Athletic Park, where Forest Hills Heights public housing is being cleared ahead of demolition. The development is planned to start construction in early next year, and it will require expedited review because its first phase includes at least 100 affordable units.
Tribute Rising is designed around multifamily housing, with 907 apartments planned across studio and one-to-three-bedroom units, plus townhomes and a senior-only property. Phase 1 will include 332 units, consisting of 139 affordable units, 85 workforces units, and 108 market-rate units, and it is slated for completion in late 2028, with 55 senior-only one-bedroom units in the first building delivered.
The project will also include new commercial space during Phase 1, including locations for Black Farmers Market and early childhood education center Kate’s Korner, with later phases adding 250 and 325 units, respectively. Funding is expected to come from conventional debt and equity, and Bisnow said it includes $19M from the Durham Housing Authority, $19M in equity, and an $80M loan, with the site not qualifying for low-income housing tax credits.