The Durham skyline will be getting a makeover in the next few years. Two Charlotte based developers, Northwood Ravin and CitiSculpt recently bought about 18 acres southeast of the Durham Bulls Athletic Park. The land is basically open to whatever the developers want to put on it.
CitiSculpt is looking at a first phase of about $400 million. It will be a 300 unit apartment project developed by Woodfield Investments. There will be two office towers and possibly a hotel with a parking deck. The towers would be between 12 and 18 stories.
Meanwhile the former home of the Elkin Chrysler dealership is getting a make over as well. There will be office space going up as the area right now is something 99% leased. That is both a good thing and a bad thing. The city can not attract new business if there is no space for them.
Of course with construction comes jobs and people with good salaries. That should help an already hot real estate market in the Durham area.
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