DURHAM, N.C. — Have you ever driven by an empty building and wondered what it used to be used for? All across the country people are getting resourceful to try to make something new out of older buildings.
A former extended-stay hotel near Research Triangle Park now has a new purpose. The building has been converted into six dozen affordable housing apartments, now called The Pines Apartments, as a way to help people who both live and work in Durham.
For new tenant Teddy Pugh this new space means more than just a place to live, it’s a space to bond with his grandson.
“Everything’s brand new. The kitchen, all the appliances, the bathroom. You know, it’s nice having a bathroom nobody’s used but you,” he said.
According to North Carolina Housing Coalition, Durham has the highest fair market rent in the state, averaging at $1,872 for a two-bedroom apartment.
Pugh said affordable housing isn’t just about shelter, it’s about stability.
Reinvestment Partners, a stakeholder in the project said the goal is to create workforce housing for residents.
“We’re really trying to make it workforce housing for Durham residents who want to live here and work here. So, it’s a big endeavor. In a moment in Durham where we’re seeing a lot of displacement for folks,” said Robert Polanco, director of real estate with Reinvestment Partners. “So, we’re excited to have this opportunity.”
Across the country more hotels are being converted into affordable housing. A study from the National Association of Realtors says the rising costs of construction and labor are fueling this push, as families struggle to afford everyday life.
Peter Skillern, CEO of Reinvestment Partners, said this project is proof it can work.
“This makes it possible to have affordable rents. And again, it has no subsidy. This is just what the market will bear. For a group of folks who’ve got choices, where they live, but not infinite choices, this is a good, affordable, safe community,” Skillern said.
While not big, these units range from 313 to 420 square feet. And rent is between $950 and $1,100 a month, including utilities. That’s well below the statewide average of $1,883 according to Zillow.
The apartments are designed for individuals or small families earning around 60% of the area’s median income, which is around $81,000 according to Data USA.
For Pugh he said it can’t get much better then this.
“If you’re single and you can live in an area like this, you can’t find no better in Durham,” he said.
