Three years after building one tower in downtown Durham, a developer couple is about to embark on a second.
The 27-story Novus tower will take the place of the old South Bank building on the corner of West Main and Morris streets. Construction is expected to start early next year and be finished by the end of 2024.
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"People are excited to have something going here because this has been sort of a dead spot for a long, long time," said Jane Hills, who operates Austin Lawrence Partners with her husband, Greg.
Austin Lawrence also developed One City Center on Corcoran Street. While that 28-story tower includes office space as well as apartments and condominiums, Novus will be all residential, aside from ground-level retail shops.
"We’re bringing big-city amenities to Durham, and people are loving it," Hills said, noting the tower will include co-working space, a spa with massage and steam room and even an area for a dog park and groomer.
"I know a lot of young people, a lot of my friends, are moving here. This will be a good opportunity to explode downtown Durham a little bit more," said Joey Greco, who has worked in the South Bank building.
Nearly 9,000 people now live downtown, more than triple the number 30 years ago, according to Downtown Durham Inc. estimates.
Rents for the apartments, which will occupy floors 2 through 18 haven't been set yet, Hills said, but they will be pricey.
"This is an expensive building to build, and also the amenities are going to be a lot more than we have been able to have at One City Center," she said.
The condos, which will fill the tower's upper floors, start at $600,000, and half are already reserved. A 4,000-square-foot penthouse has been listed for $3.5 million.
Hills and her husband started their development business in Los Angeles and later moved to Aspen, Colo., before settling in Durham. He is a Duke University graduate.
"Downtown Durham has a lot of great energy," she said, adding that the towers only enhance the vibe. "Durham is still going to be Durham – with some bigger buildings and a lot more energy."
Demolition of the old bank building is scheduled to start in January and take about a month before construction of the tower can begin.
"This isn’t the prettiest-looking building," said Tucker Gragg, who has leased space in the South Bank building and is excited by the prospect of another downtown tower. "I think it’ll give us a more modern take on our city."