Nov
13

Mixed Use Development Planned for Durham

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The Halle Cos., one of the most active developers in the state, has acquired a 300-acre site just off the Durham Freeway at Ellis Road where it plans to build a mix of single-family homes, townhomes, apartments and shops. The largely vacant site is expected to eventually be home to 600 single-family houses and townhomes, 600 apartments and about 60 acres of retail, said Stephen Fleischman, a vice president with the Silver Springs, Md.-based company.

The build out of the residential portion of the project is expected to take roughly five years, with work on the first batch of apartments expected to begin in the spring.

Although Halle believes there will be strong demand for retail at the Ellis Road exit of the Durham Freeway, Fleischman said the timing on that portion will depend on market conditions. “If the market’s hot, it goes quickly,” he said. “If the market’s not, it kind of sits there for a while.”

The project is another collaboration between Apex First Development and Halle Building Group, the two entities behind the Villages of Apex, a 202-acre development that also includes a mix of retail, single-family homes and apartments.

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Categories : Durham

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