HICKORY, N.C. — Woda Cooper Cos. has started construction of Center Crossing, a 50-unit affordable housing community for seniors in Hickory, 50 miles northwest of Charlotte.
The property will be near the city’s downtown Union Square and close to many shopping, dining and cultural opportunities, plus various medical facilities and public offices.
Center Crossing will serve seniors age 55 and older who earn up to 80 percent of area median income (AMI) with some units reserved for those at 40 percent, 50 percent and 60 percent AMI.
The four-story, elevator-serviced building will have 28 one-bedroom and 22 two-bedroom apartments, plus an onsite management office, multipurpose space with kitchenette, laundry, fitness center and computer room.
North Carolina Housing Finance Agency (NCHFA) allocated federal Low-Income Housing Tax Credits to support equity financing. Western Piedmont Council of Governments (WPCOG) provided a $250,000 HOME loan through its Unifour Home Consortium. CREA LLC is investor in the tax credits. RiverHills Bank is providing the construction loan and permanent debt mortgage.
Raleigh-based TightLines Designs is architect with engineering by Mc2 Engineering Inc. Woda Construction Inc. is general contractor, and Woda Cooper Companies’ management division will oversee leasing and property management.