6 Grace Lane
Land For Sale - 201 Multifamily Units Fully Approved | ±1.65 Acres in Downtown Durham
Marketing description
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.
Located at the intersection of Liberty Street and Elizabeth Street in Downtown Durham, the property offers immediate access to employment, dining, entertainment, and cultural amenities. Ongoing institutional and life sciences investment continues to drive strong residential demand in this walkable, high-growth submarket.
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 StreetUnit mix includes:
- 90 Studio units
- 94 One-bedroom units
- 17 Two-bedroom unitsNo affordable housing requirements
Sewer capacity approved and allocated for all 201 units
Surrounded by new multifamily development driving Downtown Durham’s eastward expansion, with easy access to downtown and employment hubs
Sale Price: Call Broker
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