Over 55 and on the market for housing? Here are 7 communities coming to the Triangle.
Baby boomers are picking up sticks and relocating to the Triangle in droves, according to new data from the U.S. Census Bureau.
Between 2020 and 2023, the number of residents aged 65 and over jumped by 18.3% in the Raleigh-Cary metro area, making it one of the fastest-growing areas for this demographic in the country.
That surge is reshaping the Triangle housing market as developers rush to build enough houses. At one end, it’s driving up demand for more affordable senior housing amid a chronic housing shortage and rising prices. At the other end, it’s spawning resort-style housing aimed at people aged 55 and over.
“Demand is pretty high,” said James Flanagan, vice president of community experience at Tri Pointe Homes, which is set to open Altis at Serenity in Fuquay-Varina, its first 55-plus community on the East Coast
“Some 11 million baby boomers are retiring each year. Then you have Gen X, which is starting to enter retirement age. Over 50% of those are looking to move into a 55-plus neighborhood,” he said.
Here’s a look at seven projects recently delivered or in the pipeline. This list is not exhaustive. Other projects are in the early stages around the greater Triangle metro.
Altis at Serenity
Location: 32 Retreat Drive, Fuquay-Varina, 27526
Developer: Tri Pointe Homes
What’s planned: A 500-acre planned community offering 425 homes for adults ages 55 and up ranging from 1,281 to 3,415 square feet.
Amenities: Clubhouse, fitness center, pickleball, dog park.
Timeline: It’s anticipated to open this spring.
Prices: New homes start from the $400,000s. More pricing “is coming,” according to its website.
Other notes: It’s Tri Pointe Homes’ first active adult community on the East Coast and its third community under the Altis brand.
Ovation at Sweetbrier
Location: Doc Nichols Road, Durham, 27703
Developer: Mungo Homes
What’s planned: A new 600-home single-family, townhouse community for adults ages 55 and up. Six plans offer ranch-style homes ranging from 1,383 to 2,482 square feet.
Amenities: Clubhouse, dog park, pickleball, pool, spa, tennis courts, walking trails.
Timeline: It’s anticipated to open in late 2025
Prices: Homes start from $370,000 to $482,600, according to its website.
Other notes: It’s South Carolina-based Mungo’s first 55-plus community.
Asteria
Location: Exact address not yet disclosed. Chatham Park’s main address is 500 Vine Parkway, Pittsboro, 27312.
Developer: DMB Development in collaboration with Walt Disney Imagineering
What’s planned: The 1,500-acre Asteria community — part of the company’s Storyliving by Disney brand — will include 4,000 single-family and multifamily homes, including housing aimed at adults ages 55 and older.
Amenities: Clubhouse, wellness and recreation center, restaurant, community garden and trail system.
Timeline: Sales are expected to start by 2027.
Prices: Not yet announced.
Other notes: The Chatham Park master-planned community, which includes Asteria, is being developed by the Preston Development Co., co-founded by Julian “Bubba” Rawl and Tim Smith.
Longleaf Trace
Location: 1708-1712 Legion Road, Chapel Hill, 27517
Developer: Taft Mills Group, Community Home Trust
What’s planned: 48 to 60 affordable apartments for adults ages 55 and up, with a parking lot.
Amenities: Clubhouse, featuring a community room, kitchenette, fitness room, reading areas and a computer center, walking trails.
Timeline: Construction is expected to start late 2025 and be completed by late 2027, according to the project’s website.
Rates: The units will target people who typically earn less than 60% area median income (AMI). In Chapel Hill, that’s around $35,400 for an individual and $50,550 for a family of four.
Other notes: The project is the first to receive approval using the town’s “priority-conditional”zoning, which offers an expedited development review process for residential projects that include at least 25% affordable units.
Rose Park Manor Apartments
Location: 128 SW Maynard Road, Cary, 27511
Developer: Beacon Communities, a Greensboro-based affordable housing developer, in collaboration with the town, Wake County and Freddie Mac & Merchants Bank
What’s planned: 81 affordable units for adults ages 55 and up.
Timeline: It’s expected to open this spring.
Rates: The units will target people who typically earn less than 80% of the AMI. In Cary, that’s around $63,500 for an individual and $90,650 for a family of four.
Other notes: The town and Wake County have contributed over $5 million in funding in the form of a forgivable loan. Additionally, it received a 9% in tax credits through the Low-Income Housing Tax Credit (LIHTC) program.
Milner Commons Apartments
Location: 101 Russ St., Raleigh, 27610
Developer: DHIC Inc., a Raleigh-based affordable housing developer
What’s planned: 156 affordable units spread across four floors for adults ages 55 and up. Plans include studio, one-bedroom, and two-bedroom layouts.
Amenities: Screened-in porches, clubroom, a fitness center, and computer lounge.
Timeline: It opened in late 2024 and is currently leasing.
Rates: The units target people who typically earn less than 60% of the AMI. In Raleigh, that’s around $51,420 for an individual and $73,330 for a family of four.
Ashton Place
Location: 310 Jackson St., Durham
Developer: DHIC Inc. and Self-Help Ventures Fund
What’s planned: 51 affordable apartments for adults ages 55 and up. Plans include 12 efficiency units, 28 one-bedroom/one-bath units and 11 two-bedroom/one bath units.
Timeline: It opened in 2024 and is currently leasing.
Amenities: Club room featuring laundry facility, computer center, kitchen, tenant storage areas, fitness room.
Rates: The units target people who typically earn less than 60% of the AMI. In Durham, that’s around $42,480 for an individual and $54,600 for a family of four.
This story was originally published March 29, 2025 at 8:00 AM with the headline "Over 55 and on the market for housing? Here are 7 communities coming to the Triangle.."
