National developer Sterling Bay and real estate firm Acram Group have submited exciting site plans for the first phase of Heritage Square Redevelopment, strategically positioned just south of the bustling Durham Freeway. First Phase of this project, part of the Durham Urban Transformation, will feature an 11-story lab and office tower, alongside an 18-story residential tower.
This initial phase of Heritage Square Redevelopment will encompass over 1 million square feet of mixed-use space. It includes 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 offer parking, a 3,712-square-foot amenity space on the sixth floor, a swimming pool with a deck and fitness center, and studio, one, 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. Additionally, there will be approximately 4,500 square feet of public open space, including a pedestrian mall, fostering community connections.
Cost of Heritage Square Redevelopment project
The development is estimated to cost around $500 million, with construction set to commence in 2024, aligning with the vision of the Durham Urban Transformation. This phase will take approximately 24 months to complete. Sterling Bay, acquired the property for $62 million in June 2022.
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Heritage Square Redevelopment, located in Durham’s historic Hayti community, 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 continues its vibrant evolution, welcoming new residents, retailers, and restaurants. Across the Durham Freeway, The Ramsey, a luxury apartment development, opened in August 2022. Further north, a multi-phase affordable housing project is under construction, solidifying the city’s role in the ongoing Durham Urban Transformation.
