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Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2000
Land Area ()

Asset Description

+/-12.84 Acre Rare In-fill Multifamily Land Development Opportunity with Extreme Proximity to the Research Triangle Park.


Jones Lang LaSalle, a North Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for South Alston Multifamily, a ±12.84 acre multifamily land opportunity located less than a half mile from the nationally renowned Research Triangle Park (RTP), a booming life/science hub, home to 55,000+ employees specializing in fields such as nanotechnology, pharmacology, biotechnology, information technology, and the environmental sciences. The property has made substantial progress in obtaining Planned Density Residential (PDR) zoning for +/- 170 residential units, with rezoning approval expected by early summer 2022 (case Z2000019). South Alston Multifamily features over 600’ of frontage along I-40, one of the region’s major arteries, and is located in one of the nation’s hottest housing markets. The property boasts a prime location with an average household income of $90,167 (3-mi radius Regis, 2022) and great connectivity throughout the region.


Due to ongoing proceedings, JLL requests that prospects NOT reach out to the City of Durham

Investment Highlights

  • 170 Multifamily Units (still pending rezoning)
  • $90,167 Average Household Income
  • #2 Market overall real estate prospects (PWC/ULI 2022)
  • 20% Increase in multifamily rents year over year (Axiometrics 4Q22)
  • 5 Minutes to Research Triangle Park
Last Updated Date: 09 May 2022

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Last Updated Date: 09 May 2022

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