DURHAM, N.C. — AvalonBay Communities is currently underway on the development of Avalon Oakridge, a 930-unit project located along Durham-Chapel Hill Boulevard in Durham. The developer broke ground on phase I of the project, which will comprise 459 apartments, earlier this year. The first move-ins are expected to begin in the fall of 2026.
Additionally, AvalonBay Communities has acquired 7.8 acres from Beacon Properties Group for Phases II and III of the development, which will comprise a further 471 apartment units.
Chester Allen, Howard Jenkins and Tiffany Hilburn of CBRE represented Beacon Properties Group in the land sale. This marks the second transaction between the seller and AvalonBay Communities at the site.
Planned community amenities include a fitness center, pool, outdoor courtyards with grilling areas, a resident lounge with coworking spaces, pet spa with a dog washing station and on-site bike storage. The development will also include a new street with a protected bike lane, sidewalks, shade trees and vehicular lanes.
AvalonBay Communities is a publicly traded real estate investment trust based in Hopewell, Virginia, approximately 20 miles south of Richmond. As of June 2024, the company owned or held a direct or indirect ownership interest in 300 properties totaling 91,399 apartments across 12 states and the District of Columbia.