A new High Point Housing Authority community under construction could house tenants as soon as next month, according to the High Point Enterprise.
The paper reported that construction Park Terrace apartment complex is on schedule. The site is being built on 20 acres bounded by E. Russell Avenue, Park Street, E. Grimes Avenue and Asheboro Street and will be composed of 172 apartment units.
“There are 42 units leased up, so we’ll have folks ready to move in at the end of April,” said Von Gore, the authority’s director of housing development/HOPE VI, according to the High Point Enterprise. “We’re on pace to have all construction completed in July.”
Most of the publicly subsidized complex will be reserved for low-income residents, the High Point Enterprise reported.
The $20.5 million project is being funded by tax credit investments, with Red Stone Equity Partners, a Cleveland, Ohio-based company, as the primary investor, the paper reported.