Located at the intersection of Highway 54 and I-40, Crescent 54 presents a rare opportunity to acquire 5.3 acres in Chapel Hill, North Carolina – one of the Triangle’s most coveted, supply constrained, and high barrier submarkets.

The site is ideally positioned for market rate, LIHTC, or senior housing multifamily development and offers exceptional regional connectivity to UNC-Chapel Hill, Duke University, Research Triangle Park, and Downtown Durham. This strategic location places top-tier employers, education, healthcare, and amenities within easy reach, supporting long-term renter demand and outsized investment durability-rate Chapel Hill.

The property features Residential Compact Development (RC-D) zoning with a site plan ready for submission that includes 107 residential units (90 garden and 17 townhomes). Developers have the flexibility to proceed with the current plan for a more rapid closing and efficient delivery, or pursue greater density. The City of Durham is in the process of rezoning the entire City. The proposed zoning for this area is CX-5 (Commercial Mixed Use), which doesn’t have any limits on density. This is projected to be in place by end of 2026. Limited multifamily construction starts in the region and strong projected rent growth make this a compelling investment well suited to capture long-term demand.