DURHAM, N.C. — Urban Standard Capital has provided an $8 million loan to finance the construction of 555 Abranova, an apartment development in Durham, near the city’s downtown and Research Triangle Park. Abranova Real Estate is the borrower and developer. Upon completion, the property will feature 48,000 square feet of residential space across 37 units, with 5,000 square feet and 1,500 square feet of coworking and retail space, respectively.
Other amenities will include a gym, yoga studio, outdoor terrace with grills and a communal lounge. Residents will also have access to the basketball court, dog park and walking paths within the developer’s adjacent townhome project.
Site work has been completed at 555 Abranova, and completion is expected for either the fourth quarter of this year or the first quarter of 2025.