6 Grace Ln Durham, NC 27701
Fully entitled 1.65-acre site approved for mixed-use development.
Lot size:
1.65 AcresProperty Features for 6 Grace Ln
General Information
- Lot size
- 1.65 Acres
Source:
Lee-associates
Listing Agent: Mike Glennon
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Downtown Durham Multifamily Development Opportunity
The property at 6 Grace Lane presents a multifamily development opportunity in Downtown Durham. The site, spanning approximately 1.65 acres, has site plan approval for a mixed-use project. The development is planned to include 201 residential units and 8,721 square feet of ground-floor commercial space. The unit mix includes 90 studio units, 94 one-bedroom units, and 17 two-bedroom units. Located within a federally designated Opportunity Zone, the property is positioned for value creation. Sewer capacity has been approved and allocated for all 201 units, and there are no affordable housing requirements. The parking ratio is 80%, with 161 residential parking spaces and 62 additional unrestricted parking spaces on Elizabeth Street between Holloway and Main Street. Situated at the intersection of Liberty Street and Elizabeth Street, the property provides access to employment, dining, entertainment, and cultural amenities. The surrounding area features new multifamily developments, contributing to Downtown Durham’s eastward expansion, with access to downtown and employment hubs. The zoning is DD-S2 (Downtown Durham – Subdistrict 2). The parcel number is 0831260575.
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.8918488
- Latitude
- 35.9934759
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Fully entitled 1.65-acre site approved for mixed-use development.
Where is this commercial land located?
The property is located at 6 Grace Ln Durham, NC.
What are key features of this property?
This property features: - Site-plan approved for a mixed-use project: **201 residential units and 8,721 SF of ground-floor commercial space**.; - Located in the heart of Downtown Durham, with access to employment, dining, entertainment, and cultural amenities.; - Located within a federally designated Opportunity Zone.
