Location: Greenville, NC
Number of Units: 48
Tenant Type: Family
Development Cost: $5.8 million
Financing: State Exchange Loan, State Loan, City Loan, CICCAR Permanent Loan
Concept Design Note:
- The complex is composed of eight-unit “Big House” concept buildings which provide separate entrances from each apartment. The design gives a much better sense of personal space for each tenant than does typical hallway apartment construction.
- The community leased-up in 30 days and later won one of NCHFA’s five statewide awards for excellence.
- The City of Greenville, NC let an RFP for downtown infill development on a Martin Luther King Blvd. on vacant property assembled by its Redevelopment Commission. The RFP specifically called for appropriate build-out within a downtown neighborhood that had several beautiful and large scale Victorian homes. With support of a local downtown development non-profit, the City provided a 99 year land lease and a low interest loan.