400‑apartment project advances as Durham’s demand for housing stays hot
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- Camden Property Trust is taking over a shovel‑ready 400‑unit project on Hopson Road.
- Camden will build and operate the Hopson Road community now that entitlements are locked.
- The Hopson Road project is expected to break ground this summer to meet Durham’s demand.
A Texas-based company is doubling down on the Triangle’s multifamily housing market, taking over a “shovel‑ready” 400‑unit project on Durham’s Hopson Road.
For years, High Street Residential had been quietly steering the site through Durham’s development process — part of a broader push into the city’s industrial‑to‑residential transition zone southwest of downtown.
With entitlements now locked in, Camden Property Trust is stepping in to build and run the community.
“We appreciate the thorough groundwork HSR has completed to move this opportunity through,” said Will Smith, Camden’s vice president of real estate investments, in a release.
“We look forward to delivering a high‑quality apartment community that meets continued demand for housing options in the Triangle.”
The move reflects a broader market shift: Institutional capital is re‑entering the Triangle’s development pipeline as construction costs stabilize and rent growth holds across job‑dense submarkets.
For Camden, the Hopson Road site offers a fully “de‑risked, construction‑ready” opportunity in one of Durham’s most reliable demand corridors. HSR’s parent company, Trammell Crow Company, framed the handoff as a natural next step.
Camden’s long‑term ownership model “makes it the ideal organization to carry this project forward into its next phase,” said Josh Dix, a principal with the firm.
The corridor — between N.C. 55, Research Triangle Park and Interstate 40 — has become one of Durham’s most active rezoning zones as older industrial parcels flip to housing.
HSR won its rezoning in August 2023, after the planning commission voted 8–2 to recommend approval for a shift from residential rural to mixed-use residential, clearing the way for up to 400 units on Hopson Road.
The 17-acre site sits at the intersection of several demand drivers: RTP’s employment base, which continues to anchor renter demand, and access to I‑40 and I‑540, among them.
The project is expected to break ground this summer. “Additional project details will be released as the development moves toward construction,” the firm said.
Camden now has at least two active Triangle communities: Camden Durham, a 420‑unit project downtown that opened in 2023; and Camden Village District, a 369‑unit community in Raleigh that opened in 2024. Rents range from $1,439 to $2,759 per month, based on the most recent verified listings.
Meanwhile, HSR continues to expand its own regional footprint. The firm is underway with The Henley, a 370‑unit garden‑style community in Apex scheduled to deliver its first units in fall 2026. It also recently delivered 400H, a 20‑story mixed‑use tower in downtown Raleigh with 242 apartments now 96% leased. Rents currently range from the mid‑$1,400s to just over $4,300 per month.
