DURHAM, N.C. — Alliance Residential Co. has acquired the former Crown Park Hotel in Durham, with plans to convert the building into a 342-unit apartment community. Karl Hudson of Foundry Commercial arranged the transaction on behalf of Alliance. The seller and sales price were not disclosed. Alliance will begin construction on the community, named Broadstone Durham, next year. The project will feature studio, one- and two-bedroom units, including several two-story brownstones. The community will also feature a three-story glass entry “jewel box,” inspired by the nearby Durham Performing Arts Center. Broadstone Durham will be located within walking distance to American Tobacco, the Durham Bulls Athletic Park, Main Street and the Brightleaf District.