DURHAM, NC-Faison Enterprises, a real estate developer in Charlotte, is razing down the Washburn Court apartments located on Swift Avenue in Durham to build a $40 million apartment complex. The company's subsidiary purchased the 29-unit property for approximately $5.5 million. Demolition work has already started on the nine white-brick buildings. Faison plans to construct a four-story, wood-framed complex comprising 202 apartments on the site spanning 3.4 acres.
The city has approved the plan. Construction is slated to begin in January 2013. For the full story, go to Charlotte Business Journal .
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