Source:


Deaton Investment Real Estate & The Wake County Apartment Association



Wednesday, July 15, 2009

Change isn't easy and often not wanted


The buildings formerly known as University Apartments on Chapel Hill Road in Durham have been sold to a group from Alabama that specializes in student housing. Their plans are to renovate and upgrade the property to add value to the $3.3 million they paid for the property in May of 2009. However, residents and the community are meeting the effort with opposition because the increased rents will force many of the people to move. While the displacement of tenants is unfortunate lets hope the new owner is able to do what they want, with the property THEY OWN, without much interference.

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