A new apartment community is coming to downtown Durham, and it’s targeting the nation’s fastest-growing rent cohort : Adults over 62.
Construction has begun on Commerce Street Apartments, which will offer 172 mixed-income units in two four-story buildings at 115 Commerce St., less than a mile southeast of the city’s center.
Of those, 88 units will be reserved just for adults over 62, a sign of a growing reality. More than one in five older households — over 7 million — rent, according to Harvard University’s Joint Center for Housing Studies . Many are “cost-burdened.”…