RALEIGH—An historic $190 million appropriation made by the NC General Assembly last year to the state’s Workforce Housing Loan Program (WHLP) is already addressing substantial funding gaps for workforce housing developments caused by the pandemic.
On March 13, State Senator Danny Britt will present a ceremonial WHLP check to River Highlands Apartments in Lumberton—one of 77 developments statewide helped by the infusion of funds— followed by a ground breaking ceremony for the property. River Highlands Apartments will help address the shortage of affordable apartments in Robeson County, where more than 49% of renters are cost-burdened, paying more than 30% of their income on rent.
WHAT: Ceremonial NC Workforce Housing Loan Program Check Presentation and Ground Breaking
WHO: State Senator Danny Britt, NC Housing Finance Agency officials, local officials
WHEN: Monday, March 13 at 1:00 p.m.
WHERE: River Highlands Site, 3450 Elizabethtown Road, Lumberton, NC (parking across the street at the Speed Barn)
Developed by MC Morgan and Associates, River Highlands was awarded funding by the NC Housing Finance Agency in 2020 to provide 64 apartment homes affordable for working families. After pandemic-related construction cost increases, supply chain disruptions and labor shortages stalled River Highlands, a $4.85 million loan from the WHLP appropriation enabled construction to resume by going directly into the construction and lowering rents.
Statewide, the $190 million Workforce Housing Loan Program appropriation kickstarted the construction of 77 developments with more than 5,100 apartment homes which had stalled, providing much needed housing for working families and seniors on fixed incomes.
“This historic appropriation will expand housing options for working families across the state who are among those hardest hit by the pandemic’s economic impacts,” said Scott Farmer, NC Housing Finance Agency executive director. “We are grateful to the General Assembly for recognizing and addressing the housing shortage facing thousands of hard-working North Carolinians.”
The North Carolina Housing Finance Agency is a self-supporting public agency that finances affordable housing opportunities for North Carolinians whose needs are not met by the market. Since its creation by the General Assembly, the Agency has financed more than 298,860 affordable homes and apartments, totaling $29.16 billion. To learn more about the Agency and its programs, visit www.HousingBuildsNC.com.