More affordable housing on the way

Aug. 22, 2014 @ 04:22 PM

New affordable housing is coming to Henderson.

A local general contractor was awarded about $450,000 in housing credits to establish Carey Chapel Village, a new neighborhood that will include 54 homes for lower-income individuals.

Dennis Tharrington, owner of WDT Development, said the project will provide energy-efficient living quarters for families that qualify.

“If you take a family who doesn’t have 10 percent down or 20 percent down, and they want a new house, this is a way for them to do it,” he said.

The project is made possible by the North Carolina Housing Finance Agency, which awarded $423 million across the state Aug. 19. The Federal Tax Reform Allocation Committee approved the credits Aug. 15.

The money will help produce 3,683 privately owned, privately managed affordable apartments — bringing the number of State Housing Credit developments to more than 67,000.

Credits totaling about $210,000 were given for renovations to The Wickford Apartments, 250 Beckford Drive, as well.

Complex owner Dennis Ellis said funds will provide new carpet, appliances and freshly painted walls to each of the 44 units,

“We bought The Wickford Apartments a few years back, determined that they needed a nice rehab,” he said. “They are quite a few years old now.”

New properties will be for families earning 60 percent of the county household median income — which is $34,499 in Vance County, according to statistics from the United States Census Bureau.

According to the state, the awarded credits are expected to support 8,540 jobs and generate more than $13.4 million in tax revenue.

Jordan McMillen, Vance County’s director of planning and development, said the new developments will benefit local residents.

“I am glad to see low-income apartments coming,” he said. “They are certainly needed.”

Both developers said they are moving into the planning phases of their projects.

 

Contact the writer at dhairston@hendersondispatch.com.