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AG 2015 02 16
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AG 2015 02 16
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Last modified
2/18/2015 3:52:02 PM
Creation date
11/27/2017 10:37:01 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/16/2015
Board
Board of Commissioners
Meeting Type
Regular
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Wesley CDC completed the rehab of the Oakwood II Apartments in Yadkinville <br />(Yadkin County) in 2013. The rehab provided much needed handicap accessible <br />apartments in Yadkinville. As a result of the rehab, the occupancy of this project has <br />improved dramatically from 70% prior to renovation to 100% as of January 2015. <br />In the summer of 2014 Wesley CDC rehabbed a USDA -Rural Development rental <br />property in Boonville (Yadkin County) called Wesley Hollows. As of January 2015 this <br />property is at 100% occupancy <br />In August of 2014 Wesley CDC completed the construction of a new affordable <br />multi - family project in Mocksville (Davie County) called Willow Pond. This 50 unit, <br />three story project provided much needed housing for seniors, and achieved 100% <br />occupancy in December 2014. <br />Construction was completed in December 2014 on Timber Ridge Apartments in <br />Spindale (Rutherford County). This is a 50 unit single story duplex style project for <br />seniors that was at 82% occupancy as of January 20, 2015. <br />Wesley CDC received an allocation of Low Income Housing Tax Credits <br />( "LIHTC ") in August 2014 to develop a 50 unit affordable seniors project in Lenoir <br />(Caldwell County). Construction will begin on this project in April 2014. <br />In January, Wesley CDC partnered with Prosperity Unlimited, Inc. of Kannapolis <br />to submit an application for LIHTC to develop the 60 unit Prosperity Ridge Apartments <br />for seniors age 55 and older. This two story project (with an elevator) will be located on <br />Little Texas Road in Kannapolis. The plans for this property are similar to the plans that <br />we have used for the Willow Pond Apartments in Mocksville and the soon to be built <br />Arbor Glen Apartments in Lenoir. The plans call for an extensive amenity package that <br />will offer an upscale feel to each unit and numerous community spaces across the <br />property for residents to meet with friends and neighbors. The design of this building <br />was very well accepted in Mocksville where our Willow Pond project achieved 100% <br />occupancy in less than 6 months. We anticipate a similar response when this building is <br />completed and being marketed in Kannapolis. <br />We look forward to working with the the agencies and organizations that are <br />providing affordable housing services to the residents of Kannapolis and Cabarrus <br />County, and we welcome further inquiries about our organization. <br />SiTreIy, <br />/4, L- <br />Roy Helm <br />President <br />Attachment number 2 <br />G -2 Page 121 <br />
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