Affordable Housing Management has announced a major rehabilitation project to provide more affordable housing for Greensboro.
The Greensboro City Council has listed “affordable housing” as one of its main priorities for years, and the current list of priorities developed over a two-day retreat by the council lists, “Adequate supply of attainable housing options.”
This project is the rehabilitation of Southwoods at 2307 Columbus St., a development of 59 studio apartments that was originally developed in 1997 and since then has been providing affordable housing for mostly single adults, many of whom were formerly homeless or are disabled.
In 2022, the City Council allocated just over $2 million in funds freed up by American Rescue Act money to the rehabilitation project for Southwoods. Funding for the project also is also coming from Low Income Housing Tax Credits from the North Carolina Housing Finance Agency, the Community Affordable Housing Equity Corporation, Centrant Community Capital and Truist Bank.
When completed, the rent for the apartments will be $485 a month and will be limited to occupancy by households earning no more than 50 percent of the area median income (AMI).
The rehabilitation will be certified under the National Association of Home Builders’ National Green Building Standards and Federal Energy Star Programs.
Executive Director of Affordable Housing Management Inc. David Levy said in the press release, “This major rehabilitation of Southwoods will enable the property to provide much needed affordable housing at an increased level of energy efficiency resulting in lower utility and maintenance costs. The reduced electric cost and below-market rents will provide extremely affordable studio apartments near shopping, restaurants, services, major roads, public transportation and employment centers. These units will greatly assist the City’s efforts to address the affordable rental housing crisis and help reduce homelessness.”
The Southwoods rehabilitation project is scheduled to be completed by the end of 2024 and will include expanding the community building, a new parking lot, new exterior lighting, new landscaping with a picnic area and bike racks, new siding, roofs, windows, doors and refreshed interiors that include mechanical systems, kitchen and bathroom fixtures and interior finishes.
AHM under David Levy’s leadership has a great track record of success, so glad to hear he is leading yet another opportunity to improve affordable housing in Greensboro.
Time will tell. This is Greensboro and they have a poor track record re tax paid housing.
What if anything will be done with the land formerly occupied by Smith Homes?
Great Job GSO we are under some of the best leadership in decades. Republican legislatures only brought us stagnant growth a crumbling infrastructure(probably the goal all along once they recognized the demographic change) but you have reversed their years of under investment and tax breaks for essentially no one thank you
You’re so right big city under the liberal, woke democrats we have highest taxes ever, less city services, slower Police response due to vacancies along with low morale and let’s not forget 51 murders and counting. We are so far ahead of Durham. You are such a visionary big city.
Man big city you are such a visionary. Under the current woke, liberal democrat leadership we have the highest taxes ever not to mention the highest in the state,!less city services, higher crime rate, slow Police response times due to understaffing and low morale , over paid city manager and last but not least 51 murders and counting. Durham will never catch us. Yeah great job on leadership there big city and your democratic vision
All the money in the world (taxpayers) and we can’t get a pothole fixed behind Wendy’s on elmsly CT. Greensboro being run by a bunch of clowns. Reported it 3 weeks ago .
That street and pothole belongs to the company that own the shopping center there. I agree It is very annoying
Maybe I am missing something but how will this project increase needed affordable housing? According to the article, this is only a rehab project. If Southwoods now offers 59 studio apartments, how many additional apartments will be offered with this new project? It appears to me that much of the money is being spent on maintenance work. Repeating, how many more housing opportunities beyond the current 59 apartments will be available after this project has been completed? Taxpayers have a vested interest in knowing the answer since taxpayers are providing the money.
My plan…give each of the homeless $100,000 each, and they sign an agreement to never take public funds for housing.
Let the market take care.
Add up the totals spent on public housing per unit….get out of the business!