ZOM Living to Raise Luxury Multifam in Durham with $49M Build Loan
ZOM Living and partner AEW Capital Management, LP, have purchased the land and secured $49 million in construction financing from Santander Bank, N.A. to develop Maizon Durham, a 248-unit luxury multifamily with 13,000 square feet of ground-level retail space in Durham, NC.
ZOM Living has also selected Hagen, Christensen & McIlwain Architects as the project’s architect and LeChase Construction to lead the project’s construction.
The development at 500 E Main Street in downtown Durham will consist of 248 units and feature upscale amenities such as dog spa, coworking and conferences spaces, fitness center and swimming pool and deck.
“We continue to invest in fast-growing cities like Durham,” said Darryl Hemminger, SVP Carolinas of 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.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.