Pratum Companies (Pratum), a national, integrated real estate firm, is excited to announce its expanded partnership with DHIC, a leading nonprofit affordable housing developer in the Research Triangle Area region of North Carolina. Pratum is leading the lease-up and property management of three, newly constructed DHIC communities in Raleigh, Apex and Durham, North Carolina.
Stone Glen in Apex is a 164-unit community that offers four different floorplans, including one-bedroom/one-bath, two-bedroom/one-bath, two-bedroom/two-bath and three-bedroom/two-bath units. Amenities include gourmet kitchens, common laundry facilities along with laundry hook-ups in each unit, a playground, a fitness center, covered picnic areas and grilling stations. Rents range between $1,293 and $1,778 for families between 40% and 70% of the area median income (AMI).
Milner Commons in Raleigh is a newly built 55+ community with 156 units, including 122 one-bedroom/one-bath units and 24 two-bedroom/one-bath units. Amenities include common laundry facilities along with laundry hook-ups in each unit, a community lounge, library and game room, a reflection room with stained glass, tenant storage areas, fitness rooms and indoor and outdoor sitting areas. Now pre-leasing, Milner Commons has 10 Efficiencies with rents from $875 for individuals with incomes at or below 60% of AMI for Wake County.
“We are excited to expand our long-term partnership with DHIC to help meet the increasing demand for affordable housing in North Carolina,” said David McGuill, Executive Director of Operations of Pratum Companies. “By working together, we’re able to create stable, supportive communities where residents can thrive. This partnership reflects our shared commitment to providing quality housing options that strengthen the fabric of these neighborhoods.”
Hardee Street in Durham is a 132-unit apartment community designed for families, with one-bedroom/one-bath, two-bedroom/two-bath, and three-bedroom/two-bath apartments available. Anticipated to be completed by March 2025, the community will feature a clubhouse, community room and kitchen, a business center with free internet access, a common laundry facility, covered picnic areas, a playground and indoor/outdoor sitting areas. Hardee Street is located in a predominantly residential area and will be reserved for families at 60% of the area median income (AMI). Starting rents range between $440 to $1,320 depending on household income and apartment size. Rents include high-speed internet.
Pratum and DHIC share a vision of creating lasting value through affordable housing. “This year marks DHIC’s 50th Anniversary fulfilling its mission to provide safe, affordable and quality housing for individuals and families in the Triangle region and across North Carolina. Our long-term goal is to foster stable, thriving neighborhoods where residents not only find affordable housing but also experience opportunities for personal growth and community connection,” said Yolanda Winstead, President and CEO of DHIC. “These communities are designed to contribute positively to the local area, both socially and economically.”
For more information about Pratum Companies or how to apply to one of the four Pratum-managed DHIC communities in North Carolina, visit pratumco.com, or follow us on LinkedIn.
