State of the local Market: Northeast Durham gets new apartment complex

According to an article in the Triangle Business Journal on May 31, 2023, plans have been submitted for a new apartment complex in northeast Durham. Geer and Junction LLC, led by developer Jarrod Edens, have filed site plans for apartments on East Geer Street close to the Walmart Supercenter near Interstate 85. The complex will consist of 208 apartments, including 24 units designated as affordable housing. The development will also feature over 25,000 square feet of outdoor recreational space.

The apartments will offer a variety of unit types, including studios, one-bedroom, and two-bedroom units. The one- and two-bedroom units will have balconies. The sizes of the apartments will range from 576 square feet for a studio to 1,128 square feet for the largest two-bedroom unit. The complex will comprise four buildings, one of which will be three stories tall, while the others will be four stories.

Amenities for the community will include a clubhouse, amenity center, swimming pool, bocce court, soccer field, dog park, two grill and picnic areas, a 10-foot-wide multi-use path, and open lawn space. Additionally, the development will preserve the existing stream and surrounding trees on the site.

Construction is expected to begin in late 2023, with the first residents moving in during the early to mid-part of 2025. The apartment complex will provide surface parking with 269 spaces, including at least four electric vehicle charging stations.

The market-rate apartments will be complemented by affordable housing units that will be offered at 60 percent of the area's median income. These affordable units will be indistinguishable from the market-rate apartments.

Currently, there are no apartments along I-85 in the northeast direction of Durham. The closest options are located along Highway 70 to the southwest and in Bragtown. For example, Blu Station Apartments near Highway 70 offer one-bedroom units starting at $1,000, while The Atrium apartments in Bragtown start at $1,400 per month for a one-bedroom unit.

Looking to stay up to date with the latest real estate trends and developments in your area? You're in the right place! Explore our blog to learn more about other noteworthy projects that are shaping the real estate landscape in the Triangle region, then connect with our community expert Carl to discuss your real estate goals. Call us at 919-880-0904 today.

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