Blue Heron Asset Management’s project, Foster on the Park, a 164-unit apartment community overlooking Durham’s Central Park, has received a construction loan for its development. The space is expected to feature ground-floor retail and dining space and will be located at 545 Foster St., next to Durham’s Innovation District and Historic Durham Athletic Park.
Cline Design Associates is the architect for Foster on the Park.
Peter Cummings, the Detroit developer who brought Whole Foods to midtown and shepherded the deal for the Fisher Building, told Curbed that he plans to build a 230-unit midrise apartment building in New Center. This summer, rumors about Cummings’ plans to buy the parking lot at 3rd and Grand (pictured above) from Henry Ford Health System were met with a firm “no comment” from Cummings. Now, he says that there’s an agreement to purchase, and that architects have been selected for the project.
“The sale hasn’t happened yet,” Cummings explained, “But I do have a firm agreement with Henry Ford Helath system. I want to build 230 units,” Cummings added. Cummings has already tapped Chapel Hill, NC, Cline Design for the new development which will combine retail with residential units just steps away from the Fisher Building. “They did a great job for me on a similar scale project, housing over parking and retail in Chapel Hill,” Cummings said.
Cummings says there’s a timeline in place and that the sale should be finalized soon. “We would like to launch the project in summer 2016,” Cummings said.Cline Design built 140 West Franklin for Cummings’ former Florida venture, Ram Real Estate. The eight-story, $55 million, mixed-use building in Chapel Hill opened in 2013
Trifecta: Crescent sells third Triangle luxury apartment complex, grosses $208M total . The developer and owner of the new Crescent Main Street luxury apartment complex in Durham, Crescent Communities of Charlotte, has sold its third new property in the Triangle at another near-record-breaking price.
@DHICInc received tax credits for Greenfield Place in Chapel Hill @chapelhillgov and Pennington Grove in Garner @TownofGarner.
Myers Park Place in Charlotte. Drone view under construction https://www.youtube.com/watch?v=TG9vXtoB43o
The Cardinal at North Hills has broken ground! Located in the vibrant North Hills Midtown District, this new full continuum senior living community will be steps away from a variety of restaurants, shopping and entertainment options. Go out or stay in – your home at the Cardinal will offer not only spacious, beautifully appointed residences but a warm, inviting community to share with family and friends, discover new passions and create The Art of Living WellSM on your terms.
Melrose Place apartments off Park Road to be replaced with new apartment complex An apartment complex just off Park Road and Woodlawn Road is set to be demolished and replaced with a new, upscale complex, according to rezoning plans filed with the city.