6 Grace Lane

Investment Overview

6 Grace Lane offers a rare, fully entitled multifamily development opportunity in the heart of Downtown Durham. The ±1.65-acre site is site-plan approved for a mixed-use project comprising 201 residential units and 8,721 square feet of ground-floor commercial space. Located within a federally designated Opportunity Zone, the property is well positioned for long-term value creation.

Investment Highlights

• ±1.65-acre development site
• Parcel Number: 0831260575
• Zoning: DD-S2 (Downtown Durham – Subdistrict 2)
• Located within a federally designated Opportunity Zone
• Site plan approval in place for 201 multifamily units
• 8,721 SF of ground-floor commercial space
• Parking ratio: 80%
• 161 residential parking spaces
• 62 additional unrestricted parking spaces on Elizabeth Street between Holloway and Main Street
• Unit mix includes:
• 90 Studio units
• 94 One-bedroom units
• 17 Two-bedroom units
• Sewer capacity approved and allocated for all 201 units
• No affordable housing requirements
• Surrounded by new multifamily development driving Downtown Durham’s eastward expansion, with easy access to downtown and employment hubs
• Sale Price: Call Broker