A grand opening ceremony was held today for Millstone Landing in Fayetteville. This new development offers 88 new apartments for families in Fayetteville. The community was developed by United Developers, Inc., using Housing Credits awarded by the NC Housing Finance Agency. In attendance were NC Housing Finance Agency Board Member Paul Kennedy, Hope Mills Mayor Jackie Warner, Fayetteville Mayor Nat Robinson, Representative John Szoka, Janet Bradbury of Senator Burr's Office and Chris Maples of Congressman Hudson's Office.
Millstone Landing, already fully leased, offers two- and three-bedroom homes for renters with incomes at $33,120 and below (for a family of four). Millstone Landing features a multi-purpose room and computer center and outdoor amenities including a playground and tot lot.
The $10.7 million development was financed in large part by federal tax credits awarded by the NC Housing Finance Agency. The Agency finances the statewide construction of affordable rental apartments using Housing Credits, the state’s Workforce Housing Loan Program, low-interest loans and tax-exempt bond allocations.
“Welcoming these families into their new homes is the result of many months of hard work and dedication on behalf of the funding and development partners and many others,” said Scott Farmer, executive director of the NC Housing Finance Agency. “This community and others like it are excellent examples of how public-private partnerships can leverage resources to improve communities and lives.”