National developer Sterling Bay and real estate firm Acram Group have submitted site plans for the first phase of the Heritage Square Redevelopment project. This project is strategically located just south of the bustling Durham Freeway. The first phase of the project, which is a part of the Durham Urban Transformation, will consist of an 11-story lab and office tower, as well as an 18-story residential tower.
The initial phase of the Heritage Square Redevelopment project will cover over 1 million square feet of mixed-use space. It will include 328 multifamily units, 316,041 square feet of lab and office space, 16,238 square feet of retail space, and a parking structure. The 18-story residential tower will provide parking, a 3,712-square-foot amenity space on the sixth floor, a swimming pool with a deck and fitness center, and studio, one-bedroom, and two-bedroom apartments. The 11-story office building will house life sciences, lab space, and creative offices, along with parking levels. Ground-level retail spaces in both buildings will enhance the urban experience as part of the Heritage Square Redevelopment. In addition, there will be approximately 4,500 square feet of public open space, including a pedestrian mall, to foster community connections.
Cost of Heritage Square Redevelopment Project
The development is estimated to cost around $500 million, and construction is set to begin in 2024, aligning with the vision of the Durham Urban Transformation. This phase of the project will take approximately 24 months to complete. Sterling Bay acquired the property for $62 million in June 2022.
Heritage Square Redevelopment is located in Durham’s historic Hayti community, which is a historically African American neighborhood. The developers engaged with community members in February to seek input, honoring the community’s past while contributing to its future as part of the Durham Urban Transformation.
Downtown Durham is undergoing a vibrant evolution, with new residents, retailers, and restaurants. The Ramsey, a luxury apartment development, opened in August 2022, across the Durham Freeway. Moreover, a multi-phase affordable housing project is currently under construction in the northern area of the city, solidifying its role in the ongoing Durham Urban Transformation.
FAQ
What is the Heritage Square Redevelopment project?
The Heritage Square Redevelopment project is a development initiative located in Durham’s historic Hayti community. It aims to transform the area and create a mixed-use space consisting of residential, office, and retail buildings.
What will be included in the first phase of the project?
The first phase of the Heritage Square Redevelopment project will include an 11-story lab and office tower, an 18-story residential tower, 328 multifamily units, lab and office space, retail space, a parking structure, and public open spaces.
When will construction begin and end?
Construction for the first phase of the project is expected to begin in 2024 and will take approximately 24 months to complete.
How much will the project cost?
The development is estimated to cost around $500 million.
What is the significance of the project’s location?
The project is situated in Durham’s historic Hayti community, which is a historically African American neighborhood. The developers are actively engaging with the community to honor its past while contributing to its future.
What other developments are happening in Downtown Durham?
In addition to the Heritage Square Redevelopment project, Downtown Durham is also welcoming new residents, retailers, and restaurants. The area is experiencing a vibrant evolution, with projects like The Ramsey, a luxury apartment development, and a multi-phase affordable housing project.
Closing Statements
The Heritage Square Redevelopment project in Durham’s Hayti community is an exciting initiative that aims to transform the area into a mixed-use space. With its combination of residential, office, and retail buildings, along with public open spaces, the project seeks to enhance the urban experience and foster community connections. The developers are actively engaging with the community to ensure that the project preserves the neighborhood’s history while contributing to its future. The project will not only bring new developments but also strengthen Durham’s role in the ongoing urban transformation. With the planned construction starting in 2024, Durham’s downtown will continue to evolve and attract new residents, retailers, and restaurants.
