HKJ Starts Avalon Southpoint
HKJ starts a new multifamily community calling for 394-units mixed with ten garden buildings, one manor building, townhomes, and amenities to service the community. Harris Farms is located on a 40 acre tract in Durham, NC. Here’s what’s planned: A three-story “modern farmhouse” design. Each unit will have a balcony or patio. 50 affordable units in a separate building priced for those at 60% of the area median income for 30 years and 5,000 square feet of co-working space.
Even though the national housing market hasn’t seen tremendous growth in 2024, the Raleigh/Durham market continues to plan for when the market will change. Several developers are anticipating rate drops as they are planning for kickoff once it occurs.
“The Avalon Southpoint project has decided to officially move forward in hopes to beat the market price increases once interest rates drop. It’s a seesaw game these developers must play. We are extremely encouraged to see current movement in the market.”, says Mr. Jordan. Site work will commence this fall and the project will be going vertical prior to June 2026.
