The 248-unit apartment community in downtown Durham will include 13,000 square feet of ground-level retail space.
ZOM Living, partnering with AEW Capital Management, has purchased land in Durham, North Carolina, and has secured $49 million in construction financing to build Maizon Durham. The luxury, high-design rental community will include 248 units; a fitness center and a wellness spa; a swimming pool and a deck; and a large co-working space.
“We are excited to be partnering with ZOM Living on this new multifamily development in Durham,” says Joshua Heller, head of acquisitions at AEW Capital Management. “We recognize the growth and investment downtown Durham is experiencing and the demand for quality rental housing. The development of Maizon Durham will deliver premium apartments that will further enhance the neighborhood.”
Slated to break ground this summer, ZOM Living has selected Hord Coplan Macht, One Line Design Studio, and LeChase Construction to lead the project. The community will have several layout options, including studio, one-, two-, and three-bedroom units ranging between 555 and 1,450 square feet. Apartments will feature high-end kitchen and bathroom cabinetry, floor-to-ceiling windows with roller shades, wood plank flooring, walk-in closets, smart thermostats, electronic locks, and private balconies or terraces in most.
Additional luxury, lifestyle-driven amenities will include a dog spa and an outdoor deck and grilling area with an adjacent social room. The state-of-the-art fitness center and wellness spa will offer a spin and yoga room. At ground level of the development, a 13,000-square-foot retail space will be home to restaurants and service-oriented retailers to serve both residents and the surrounding community.
“We continue to invest in fast-growing cities like Durham, with Maizon marking our latest residential development to rise in the North Carolina market,” says Darryl Hemminger, senior vice president, Carolinas, at ZOM Living. “The investment downtown Durham is experiencing led by Class A offices, retail spaces, and new residential units is driving demand for high-quality housing, as more people seek to live in highly amenitized and walkable communities.” N
Courtesy ZOM Living