Integral Announces Construction Start for 900-Unit Durham Apartment Development
The Integral Group announced when it will kick off construction on the 907-unit apartment and retail venture, dubbed Tribute Rising. The company anticipates starting construction in early 2027 as the development qualifies for expedited review because the first phase has at least 100 dedicated affordable units. It will also include a grocery store and childcare center. The first phase will deliver in late 2028.
The total estimated development cost is $343 million.
The first phase will have 332 units with a mix of studio, one-, two- and three-bedroom units. Phase two will have 250 units and phase three will have 325 units.
The Triangle Business Journal reports that Integral was chosen by the Durham Housing Authority (DHA) for the 15-acre redevelopment of the Forest Hills Heights public housing community on West Lakewood Avenue.
Anticipated funding so far includes $19 million from DHA, $19 million in equity and an $80 million loan.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout