Leaders in Durham were celebrating the completion of a $10.1 million affordable housing project at Maple Creek Apartments on Friday.
Reinvestment Partners purchased Ross Road Apartments in 2019. They renovated 42 units and renamed the complex to Maple Creek.
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While the focus was to add housing to the area, Reinvestment Partners CEO Peter Skillern said it was important not to displace the people already living there during the renovation.
Annette Smith, who has lived there for three years and in Durham for 65 years, said she believes investments like this one are vital for people living in the Bull City.
"It's very much needed. I, myself, am one that's below poverty, so the rent here is affordable," Smith said.
Skillern said some of the units have a rent of $1,300 per month, while others are as low as $580. He said 33 units are set aside for families earning 60% of the area median income (AMI) or about $48,180 per year for a family of four. There are nine units set aside for those earning 30% of the AMI or $31,770 for a family of four.
Skillern said fair market rent in the area for comparably sized units is $2,300 per month.
The Maple Creek Apartment renovation project also includes supportive housing units for individuals and families with disabilities.
The renovation project was partly funded by the City of Durham's Forever Home affordable housing program, which contributed $6 million.