Million-dollar condos among more than 1,000 housing units coming soon to downtown Durham

Durham County News

DURHAM, N.C. (WNCN) – More than 1,000 housing units are under construction in downtown Durham, including some condos selling for as high as $5.5 million each.

“I believe there are at least half a dozen different developments going on in Durham,” said Susan Amey, executive director of Discover Durham.

Amey said with thousands of new jobs on the way to the Triangle, there comes the need to build more housing.

“This area grew almost 20 percent over the last 10 years in terms of population,” Amey said. “You need to really make sure that you’re planning for growth, and that you have housing available.”

The American Tobacco Campus in downtown Durham is expanding. That expansion will include 350 new apartment units.

And in the Five Points area of downtown, a development firm has plans to build a new high rise called the Novus that will include condos, apartments, and retail on the ground floor. It is slated to be completed by the fourth quarter of 2024.

Jane Hills, a partner with Austin Lawrence Partners, a locally based real estate development firm, said the old South Bank building will be demolished and construction will begin on The Novus in late February or early March.

“It’s going to be a 27-story building, so it will be the same size as One City Center,” Hills said.

The Novus will include 54 condos and 188 apartment units, as well as a swimming pool, dog park, and an amphitheater.

Hill said they do not know yet how much the apartments will be, but she said the condos are selling anywhere from $600,000 – $5.5 million each. She said that half of the 54 condos have already been reserved.

The ground floor of the complex will be retail. Hill said they are still working to determine which businesses will set up shop there.

Hills said they decided to bring the Novus to the Five Points area to make that part of downtown more active.

“It will bring jobs, it will bring people, and it will bring tax dollars,” Hills said. “What we’re trying to do is blend the rest of the project with the rest of downtown to make this side of downtown more vital.”

Most people CBS 17 spoke to downtown said they think this new high rise and all the new development will be a good thing for the city.

“I think it’s going to be a good selling point for people who want to live in the downtown environment,” said Tyler White.

Other people said they want to make sure that the city isn’t forgetting about other issues in the city that need to be addressed, such as gun violence and poverty.

“It’s like we’re forgetting about what’s going on around the downtown area,” said Dennis Garrett, a resident of Durham. “There are some things that must be addressed in order to make our city grow.”

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Click here for full list of trending stories