GAITHERSBURG, MD - 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.
About Pratum Companies: With over 50 years of experience, Pratum Companies (Pratum) joins proven expertise with a forward-thinking mindset to deliver comprehensive real estate management and consulting services. Pratum operates 150+ multifamily communities totaling more than 15,000 apartment homes in eight states across the Mid-Atlantic and South Atlantic regions, including the District of Columbia. With award-winning expertise in multifamily property management and advisory services, acquisition and investment, third-party compliance and leasing consulting and commercial cleaning, Pratum and former companies have been recognized by Satisfacts as a Top Property Management Company for resident satisfaction in 2023 for nearly a decade and has also been named NAHMA’s Top 2024 Affordable Management Companies.
About DHIC: Established in 1974, DHIC is the Research Triangle’s market leader in affordable housing development. Since its founding 50 years ago, DHIC has developed over 3,500 affordable apartments in 49 communities across 9 counties, providing homes for more than 4,000 individuals, children, and seniors. DHIC’s Homeownership Center has helped more than 2,000 families purchase their first homes. DHIC has received numerous awards in recognition of its excellence in design, community service, and management. DHIC is one of four NeighborWorks America organizations in North Carolina; a HUD-approved counseling agency; a member of the Housing Partnership Network; and a CORES Certified organization. For more information about DHIC, visit dhic.org or follow them on LinkedIn.