Charlotte-based Lennar Multifamily Communities, the apartment building arm of the Miami-based home builder Lennar Corp., plans to build an apartment project in downtown Durham.
The project, with a price tag north of $100 million, will begin construction this summer on one of the few remaining undeveloped lots, reports The News & Observer.
Lennar will build 356 apartments on a four-acre parcel of land at 425 S. Roxboro St. The six-story building will also have nearly 7,000 sq. ft. for either retail or restaurant space.
Jeff Harris, divisional president for the Carolinas at Lennar Multifamily Communities, told the News & Observer that the site plans are expected to get approval sometime in the spring with construction starting soon after.
Harris noted that Lennar’s investment in the project will be significantly more than $100 million.