The challenge
With rapid growth and revitalization in downtown Durham came concerns around displacement of long-term residents and a lack of affordable housing. Durham County leaders wanted to use their property—two parking lots next to County services—for community development. Officials hoped to add affordable housing, childcare, retail shops, and structured parking to East Main Street, an area that had not yet experienced much private investment.
DFI’s work
DFI provided pre-development feasibility analysis and supported development partner identification for Durham County leaders. This work helped officials identify market- and financially feasible projects that also met community interests. With DFI support, Durham County selected development partners through a competitive process and negotiated agreements with those partners for three separate projects. The projects involve a mix of affordable and market-rate housing, ground-floor commercial space, pre-K/childcare, and structured parking.
Partners
Government: Durham County
Developers: Laurel Street Residential
