Hardee Street Apartments: Expanding Affordable Housing Options in Durham, NC

The Need for Affordable Housing

The number of individuals who cannot afford a comfortable and safe place to call home has reached a record high. The National Low Income Housing Coalition reports that there is currently a shortage of more than 7.1 million affordable homes for the nation’s more than 10.9 million extremely low-income households. The burden of this shortage is far-reaching and has a lasting economic and social impact on individuals and communities. The development of affordable housing benefits the economy and helps communities thrive. Research shows that affordable housing encourages social connection, reduces overcrowding, attracts businesses with job opportunities, and lowers crime rates.

Project Overview

Hardee Street Apartments

By The Numbers

Hardee Street Apartments marks a significant investment in Durham’s future, bringing high-quality, affordable housing to families in one of North Carolina’s fastest-growing and most vibrant markets. Located in northeast Durham, the newly constructed 132-unit community offers safe, modern apartment homes for households earning up to 30% and 60% of Area Median Household Income (AMHI), helping to meet the growing demand for affordable rental options in the Durham-Chapel Hill region.

The community was co-developed by DHIC, Inc. and Self-Help Ventures Fund, two well-established nonprofit organizations with deep roots in the Research Triangle. Together, they bring decades of experience in affordable housing development and a shared dedication to strengthening local communities. Hardee Street Apartments is professionally managed by Edgewood Management, a seasoned third-party property management firm with more than 600 employees across nine states and localities. With extensive expertise in affordable housing operations, Edgewood provides strong oversight in lease-up, compliance, and resident services to support the property’s long-term success.

Project Impact

Apartment homes range from 709 to 1,260 square feet and feature modern finishes and amenities, including Energy Star-rated appliances, washer/dryer connections, walk-in closets, central air conditioning, and private patios or balconies. Residents also benefit from thoughtfully designed community amenities, such as a playground, partially funded by a CAHEC Partner Grant, along with a grilling area, walking path, community room with kitchen, computer center, and common-area WiFi. These features are intended to promote connection, stability, and overall well-being. As Durham’s population and renter base continue to grow, Hardee Street Apartments will provide stable, high-quality housing in a market where affordable options are limited and highly sought after.

By offering affordable homes for working families, Hardee Street Apartments enhances housing stability, supports local economic vitality, and contributes to Durham’s continued inclusive growth. The development helps ensure that as the region evolves and expands, families of varying income levels have the opportunity to remain part of the community and thrive for years to come.

What is LIHTC?

Created by Congress as part of the Tax Reform Act of 1986, the Low Income Housing Tax Credit (LIHTC) generates private capital investment used to finance the construction and rehabilitation of affordable rental housing for households earning on average 60 percent or less of the area median income. According to the Joint Center for Housing Studies at Harvard University, the housing tax credit is "widely regarded as the most successful housing production and preservation program in the nation's history." Since being enacted, the LIHTC program has helped develop more than 3.5 million affordable housing units.

In addition to providing safe, decent, and affordable housing for working-class families and seniors on limited incomes, the economic impact of the LIHTC program is visible in communities throughout the country. The development of affordable housing increases spending and employment in the local economy. Moreover, affordable housing can affect an employer's ability to attract and retain employees. LIHTC investment plays a significant role in community revitalization, which in turn can improve economic opportunities for local residents.

Who is CAHEC?

CAHEC is a community development organization based in Raleigh, NC, and Columbia, SC, that offers housing and life-changing opportunities to residents throughout its Southeast and Mid-Atlantic footprint. CAHEC's product areas include investing in low-income housing tax credits, historic tax credits, new markets tax credits, and renewable energy credits. Additionally, CAHEC provides loan programs, wellness and education initiatives for residents, affordable housing development, and property management services.

This institution is an equal opportunity provider