Greystone Affordable Development Announces Funding Awards for New Construction

Greystone Affordable Development and its partners are thrilled to lead the development efforts and be a part of three new construction affordable multifamily rental communities that will serve the citizens across the state of North Carolina.  These development projects were recently awarded housing credits, both 9% and 4%, as part of the North Carolina Housing Finance Agency’s 2021 Housing Credit Awards that were announced in August.  A direct result of Greystone’s efforts and this funding announcement will be the creation of 384 units of additional affordable housing for both families and seniors living in North Carolina. See below for additional details regarding these to-be-built affordable communities.

• The Havens at Oxford:  An affordable housing rental community that will serve seniors in Oxford, North Carolina, this 60-unit new construction multifamily community is Greystone’s second collaboration with Weaver-Kirkland Development.
  
• Eastway Park: A collaboration with Urban Trends Real Estate Inc. , Eastway Park will be a 132-unit affordable housing rental community that will serve seniors and veterans living in the Charlotte, North Carolina market. In addition to housing credits and tax-exempt bond financing, Eastway Park is being financially supported by City of Charlotte Housing Trust Fund and Mecklenburg County.
  
• New Bern Crossings: A community that will serve individuals and families in Raleigh, North Carolina, New Bern Crossings will be a 192-unit affordable housing rental community. Located right off the City of Raleigh’s Wake BRT route, the location will provide access to first-class public transportation and resources. This is Greystone’s first collaboration with Haven Developers of Durham, NC.
  

Greystone Affordable Development is a national industry-leading affordable housing developer and developer partner that constructs and preserves affordable multifamily rental units for individuals and low-wealth families. For more information on how we can assist your efforts pertaining to the development and financing of affordable housing, visit our website or call us directly.