Real estate investment and development in the Triangle
January 30, 2025 – GeerHouse, Durham, NC
Overview
This event was an opportunity to learn, network, and connect with others involved in real estate investment in the Triangle. It was an energizing evening of connection for the community, followed by a panel discussion and Q&A. Topics discussed included current trends, opportunities and challenges with perspectives from our panel of industry veterans with decades of experience in our market. Continue scrolling for our take on the discussion and photo galleries of the event, and stay tuned for our 2026 date!
Thank you to everyone involved
We would like to extend our gratitude to the 150+ people that attended, who together represented more than 80 organizations.
Special thanks to our speakers:
Guest remarks
Leonardo Williams,
Mayor of the City of Durham
Panelists
Mark Alviano, Partner, Trinity Partners
Jeff Benson, Executive Vice President, Investors Title Insurance
Keith Burns, Partner, Maynard Nexsen
Zach Prager, Director of Investments, Partner, Austin Lawrence Partners/The Novus
Moderator
Jan Brzeski, Managing Director, Sage Credit Investment Partners
Additionally, we would like to thank our sponsors, partners and the local vendors who all were essential in making the evening a success.
Stay connected
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Panel discussion – What we heard
Our panelists delivered interesting perspectives on the evolving real estate investment landscape in Durham and the broader Triangle region. Here are some of the major themes and takeaways from the discussion:
Confidence in the Triangle’s Long-Term Growth
Despite current economic challenges, panelists expressed strong confidence in the Triangle's long-term returns due to sustained migration patterns, job growth, and demand for high-end residential and mixed-use developments.
“There's a lot of growth here. I'm proud to say that I’ve invested in five buildings here in Durham. And I have to say, I’m very bullish on Durham.” — Mark Alviano
“Our condos are already 80% sold. It’s exciting to see our thesis play out in real time.” — Zach Prager
Adaptability is key in today’s market
Investors and developers who succeed in this evolving environment think long-term, pivot when necessary, and explore creative financing strategies. The Novus project, for example, was a testament to the importance of adapting to market changes over the course of a decade.
Financing is more challenging—but not impossible
A major theme of the night was the high cost of capital and how investors can still move forward by employing alternative financing structures and partnerships.
“One of the interesting aspects of this transaction was that it was financed with bonds instead of traditional bank debt. Since a nonprofit was involved in the development, we were able to secure lower financing costs.”— Keith Burns
New perspectives and future trends
The panelists often challenged conventional thinking and introduced fresh perspectives on market trends and investment strategies:
The value of patient capital: Investors with long-term capital can weather market fluctuations and execute strategies more effectively.
Adaptive reuse as a strategy: The evolution of 1949 Washington Street from industrial to office to life sciences to boutique retail showcased the importance of seeing what a property can become, not just what it is today.
Affordable living vs. affordable housing: Mayor Williams reframed affordability as a lifestyle outcome, not just a price point, emphasizing walkability, transit access, and urban density as factors that reduce cost-of-living burdens.
“Stop asking us to build ‘affordable housing’ and start working with us to create ‘affordable living’... Here, you can walk to get coffee, work nearby, and access transit—reducing costs across the board.” — Mayor Leonardo Williams
Market challenges and how to prepare
While the Triangle’s real estate market presents tremendous opportunities, investors need to proactively navigate key challenges:
Interest rates and construction costs: Developers must factor in rising costs and remain conservative in underwriting while seeking alternative funding solutions.
Zoning and public resistance to development: Mayor Williams emphasized the importance of early engagement with policymakers and addressing environmental and traffic concerns upfront.
Market timing and long project cycles: Investors should build flexibility into projects to allow for adjustments in response to shifting market conditions.
“I get tons of emails saying, ‘Please don’t approve this!’ The two things I hear every time are: Environment, Traffic. My colleagues and I go out to the site. We call the applicants and ask for details. We look at the facts.” — Mayor Leonardo Williams
Networking gallery
Panel gallery
