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NEW HANOVER COUNTY —The first in what will be years of public investments in housing will be considered Monday. The New Hanover County Board of Commissioners…
NEW HANOVER COUNTY —The first in what will be years of public investments in housing will be considered Monday. The New Hanover County Board of Commissioners…
A new affordable housing project is looking to build along Gordon Road. Plans for Estrella Landing, an 84-unit affordable housing development, are moving forward after the New Hanover County Board of Commissioners unanimously approved rezoning the site. The April 5 action by the board changed the zoning of the roughly five-acre wooded lot from an R-15 residential district to a residential multi-family moderate density designation. The proposed development, located at 4615 Gordon Road, would consist of 84 apartment units within three three-story buildings, a club house, resident community...
Listen to the story here. In the Cape Fear Region, there aren’t many ways to get affordable units on the ground. But there is one federal program, the Low-Income Housing Tax Credit (LIHTC), that has. What’s LIHTC & How Does It Work? The Reagan-era initiative, run by the Internal Revenue Service, has been around since 1987. Since then, Wilmington developers have used the tax credits for about 43 rental projects, putting into service over 1,900 affordable units. Here is a map of more recent LIHTC projects. Some critics of the program argue that these can be concentrated in...
Three apartment buildings geared toward working families and seniors will be considered by the New Hanover County Planning Board. If approved by the planning board on March 4 and the county commissioners at a later date, a rezoning request for Estrella Landing, located at 4615 Gordon Road, would consist of 84 apartment units within three 3-story buildings, a club house, resident community space, a playground and a covered picnic area with grills. According to a rezoning application by Stephanie Norris with Terroir Development, the project would include 13 single-bedroom units, 35 two-...