AFFORDABLE
HOUSING MANAGEMENT BEGINS CONSTRUCTION OF 84 AFFORDABLE APARTMENT HOMES IN
GREENSBORO
Press
Contact: David B. Levy, AHM
Executive Director, 336-273-0568
or dlevy@ahmi.org
GREENSBORO,
NC – Affordable Housing Management, Inc. (“AHM”) announces it has started
construction of Redhill Pointe at 2931 W. Vandalia Road, a development
consisting of eighty-four affordable apartment homes with one, two and
three-bedrooms.
Redhill
Pointe received an allocation of 2020 Federal Housing Tax Credits through a
highly competitive application process by the North Carolina Housing Finance
Agency (“NCHFA”). The sale of the tax credits generated
approximately sixty percent of the equity to develop the property. That equity is being provided by Community
Affordable Housing Equity Corporation. Centrant
Community Capital is providing a permanent loan and in addition, the City of
Greensboro and NCHFA are providing below market rate permanent loans. The
construction loan is being provided by Truist
Bank.
The
rents are multi-level ranging from $283 to $785 and is affordable for
households earning 30% (21 units), 50% (23 units), and 60% (40) of the area
median income.
Redhill
Point apartment homes will be certified under the National Association of Home
Builders’ (NAHB) National Green Building Standard (NGBS) and Energy Star v.3. AHM was recently named a 2020 NAHB NGBS
Partner of Excellence in recognition of its leadership, excellence, and
innovation in promoting third-party certification to the NGBS.
David
Levy, Executive Director of Affordable Housing Management, Inc, states, “The
new apartment homes will be very attractive, have ample square footage and be Energy
Star certified providing better energy efficiency and performance resulting in
lower utility and maintenance costs. The reduced electric cost and below market
rents will provide extremely affordable homes near shopping, restaurants,
services, major roads, and employment centers. Hester Park, a large City Park
offering many recreational amenities, is located across the street. The eighty-four new apartment homes will greatly
assist the City’s efforts to increase the affordable rental housing stock and
help reduce homelessness.”
Redhill
Pointe is scheduled for completion in the summer/fall of 2022. Amenities
include a community building with management offices, fitness center, laundry
center, resident community room, and attached covered patio. Exterior amenities include a playground,
covered picnic shelter, multiple picnic areas, and bike racks. The two- and three-bedroom apartment homes
each will have two full bathrooms and all units include patios/porches, self-cleaning
ranges, refrigerators with ice makers, dishwashers, pantries, washer/dryer
connections, ceiling fans, vinyl plank flooring, and plentiful closet and
storage space.
AHM,
formerly known as Greater Greensboro Housing Foundation, is a fifty-one-year-old
private nonprofit organization whose goal is to provide quality affordable
rental housing for low to moderate income households, including the elderly and
disabled. AHM’s goals are accomplished through the development and management
of affordable apartments for those households. AHM is located at 330 South
Greene Street, Suite B-11, Greensboro. For
more general information on AHM, call 336.273.0568 Ext. 127, email
info@ahmi.org or visit www.ahmi.org.
For occupancy information call 336.708.3203 or visit the above
listed website. ### |