GREENSBORO – Affordable Housing Management, Inc. (“AHM”) announced it recently began construction on Hope Court, a 16-unit supportive apartment community located near the intersection of Gate City Blvd. (High Point Rd) and Holden Road. The property will offer one, two, and three bedroom non-smoking apartments affordable to individuals and families earning below fifty percent (50%) of Area Median Income. Six units will be reserved for households with a disabled or formerly homeless member. The United Way of Greater Greensboro will offer classes in nutrition, budgeting, unit care and other topics of interest to residents. Frank McCain of the United Way of Greater Greensboro said, “Hope Court addresses a need of those in our community who are living in poverty. Every person and every family in our community deserves the opportunity to better themselves and to live in a safe, caring, and permanent home. We understand the social and economic benefits of providing wrap-around support services to this community and are elated to participate in this collaboration.”
David Levy, Executive Director of Affordable Housing Management, Inc, states, “The new apartment homes will be very attractive and Energy Star certified providing reduced electric rates for the residents. The reduced electric rates and below market rents will provide extremely affordable homes with public transportation, shopping, services, restaurants, and employment centers, all within walking distance. The sixteen new apartment homes will assist with the City’s efforts to end homelessness and to increase the affordable rental housing stock.”
Other supportive services and referrals are being provided by the Greensboro Housing Coalition (GHC). Brett Byerly, Executive Director of GHC said, “Building more affordable housing is crucial to Greensboro’s long term growth and community health. Developments such as Hope Court that emphasize energy efficiency, proximity to food and infrastructure, and connection to supportive services for residents are crucial to both resident and community sustainability.”
Hope Court is funded by the City of Greensboro, the North Carolina Housing Finance Agency (NCHFA) – Supportive Housing Development Program, and AHM. Additionally, grants were provided by Federal Home Loan Bank of Pittsburgh, Wells Fargo Foundation, Community Foundation of Greater Greensboro and the Lookout Foundation.
In addition to Hope Court, AHM recently began a major rehab at one of its existing apartment communities, Berryman Square, in northeast Greensboro. This 44-unit one- and two-bedroom apartment community will feature energy efficient appliances, HVAC equipment, and lighting, new floor plans, new kitchens and bathrooms, new exterior siding and doors, and areas that were asphalt are being converted to green space. Added amenities are playground, picnic areas, and a new community building with management office, laundry room, and general purpose room with a computer lab for residents. As part of the rehab, the community will become non-smoking and exterior smoking areas will be provided. The rehab work is being done in phases to minimize the relocation of residents who will be moved into rehabbed apartments as each phase is completed. Rehab should be completed early 2016. The development is funded with federal low income housing tax credits awarded by the NCHFA, a City of Greensboro loan, a state Rental Production loan and a first mortgage loan from the Community Investment Corporation of the Carolinas.
Berryman Square will have mixed income limits with rent and utilities affordable to households earning fifty percent (50%) and sixty percent (60%) of the Area Median Income. Five units will be targeted to disabled households with rental assistance provided.
Both Hope Court and Berryman Square expect to be certified under the National Association of Home Builders’ National Green Building Standards.
AHM, formerly known as Greater Greensboro Housing Foundation, is a private nonprofit organization whose mission is to provide quality affordable rental housing for low to moderate income households, including the elderly and disabled. AHM’s mission is accomplished through the development and management of affordable apartments for those households. AHM is celebrating its 45th anniversary in 2015. AHM is located at 330 South Greene Street, Suite B-11. For more information on AHM, call 336.273.0568 Ext. 126, email email@example.com or visit www.ahmi.org.
- A press release