$18.4 Million Affordable Housing Project Breaks Ground in Ayden
UPDATE: A groundbreaking ceremony for the highly anticipated $18.4 million affordable housing project, Oak Ridge Park Apartments, took place on September 5, 2023, in Ayden, North Carolina. Over 40 attendees celebrated this significant milestone, marking a new chapter for the community’s housing landscape.
This urgent development is set to provide 80 affordable units, including one-, two-, and three-bedroom apartments, equipped with modern amenities. Located near Second Street in Arbors Park Circle, the project aims to alleviate the pressing housing crisis in eastern North Carolina.
“Affordable housing like Oak Ridge Park requires a tremendous collaboration and persistence,” said Sam Coates, representative of Resource Housing Group, the nonprofit behind the project. This initiative not only aims to create homes but serves as a catalyst for local economic growth, providing essential housing for working families.
The new apartments will feature walk-in closets, washer and dryer hookups, and outdoor spaces, significantly enhancing living conditions for residents. Coates emphasized the importance of this project by stating, “It provides a foundation for local businesses to thrive, knowing that their workforces will have access to quality housing.”
Financing for Oak Ridge Park Apartments includes $2 million in subordinate loans from the Golden LEAF Foundation and federal housing credits allocated by the North Carolina Housing Finance Agency. Coates acknowledged crucial partners, including Scott Hamilton from Golden LEAF, stating their investments were vital for the project’s feasibility.
Residents interested in applying for the apartments can begin the process now. Shannon Pow from Remnant Management, the on-site property manager, affirmed their commitment to ensuring that low-income families qualify for these affordable units. “It’s important to have affordable housing… we don’t have a very large stock of low-income housing in rural areas,” Pow noted.
The groundbreaking ceremony also saw the presence of local leaders, including Ayden’s Mayor Ivory Mewborn, who heralded the development as a “big deal” for the town. “We have a lot of people here,” Mewborn said, highlighting the collaborative effort that brought the project to life.
As construction begins, the community eagerly anticipates the positive impact of Oak Ridge Park Apartments, which is expected to be a beacon of hope for families seeking affordable housing in the area.
Residents and local officials are optimistic about the future. With the support of government leaders and community partners, this project embodies a commitment to providing viable housing solutions and economic opportunities.
The Oak Ridge Park Apartments project will not only provide homes but also serve as a vital resource for Ayden’s growth and development. As the project progresses, it is critical to stay updated on its developments and the benefits it promises to bring to the community.
