RALEIGH—Many North Carolina families struggle to find safe housing that they can afford close to jobs, schools and health care. In Granite Falls, more than 60 families will now have a home to enjoy for years to come at Woodlane Street Apartments, a new affordable apartment development for working families.
Woodlane Street Apartments will hold a grand opening and ribbon-cutting ceremony on Tuesday, February 18, at 11:30 a.m., at 113 Woodlane Street in Granite Falls. In attendance will be representatives from the offices of Senators Richard Burr and Thom Tillis.
This new development will provide 66 apartment homes for families who are at or below 60% of the area median income. The one- two- and three-bedroom apartments feature outside storage, a community room, computer center, covered picnic area and playground.
Developed by the Fred Mills Group, Woodlane Street Apartments was funded in part by Low-Income Housing Tax Credits, administered by the North Carolina Housing Finance Agency. The Agency awards Housing Credits every year under a highly competitive process, receiving three to four applications for every one that is awarded credits. In exchange for the financing provided through the Housing Credit, owners agree to keep rents affordable for a period of 15 to 30 years for families and individuals with incomes at or below 60% of the local median income. The Housing Credit has financed nearly 100,000 apartments in North Carolina for seniors, working families and people with disabilities.
“Families in Granite Falls will now have more affordable options thanks to Woodlane Street,” said Scott Farmer, executive director of the NC Housing Finance Agency. “This is yet another a great example of how affordable housing investments can impact communities and their residents.”
For more information about the North Carolina Housing Finance Agency and how it finances affordable housing statewide, visit HousingBuildsNC.com.