New Rocky Mount affordable housing development fully leased weeks before opening
New Rocky Mount affordable housing development fully leased weeks before opening WRAL News
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Rocky Mount’s Affordable Housing Development Fully Leased Before Opening
The city of Rocky Mount is set to open a new affordable housing development in downtown in a matter of weeks. The Five Points Crossing apartment complex, a $9.4 million project, has already been fully leased before its opening. This development is a collaboration between builder Woda Cooper and the city, with funding from HUD Community Development Block Grant funds and low-income housing tax credits through the NC Housing Finance Agency.
Addressing the Need for Affordable Housing
Woda Cooper, known for its various developments across Eastern North Carolina, has experienced a common trend of filling up units before their official opening. Senior Vice President Denis Blackburne acknowledges the high demand for affordable housing in the region, stating, “There is a really strong need for affordable housing, especially across eastern North Carolina.”
The lack of affordable housing is recognized as one of the biggest challenges faced by Rocky Mount, according to David Farris, President and CEO of the Chamber of Commerce. Farris emphasizes the importance of being able to accommodate the city’s workforce, stating, “It is important that we can host and accommodate our workforce.”
Recent Developments and Future Plans
Within the past five years, Rocky Mount has seen the construction of three affordable housing developments. These projects have proven to be highly sought after, with most units being filled within weeks. As a result, the city is actively seeking potential developers to build more affordable housing in the area.
Farris acknowledges the positive aspect of the newest complex being fully leased, but also recognizes the challenge it presents. He states, “There is a waiting list. That is a good problem, but it does reflect some challenges.”
Moving Forward
Woda Cooper anticipates that residents will begin moving into Five Points Crossing by the end of the year. This development not only addresses the immediate need for affordable housing in Rocky Mount but also aligns with the Sustainable Development Goals (SDGs) set by the United Nations. The SDGs aim to ensure access to adequate, safe, and affordable housing for all individuals and communities.
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