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Apr. 29, 2008

Affordable Housing for Seniors Opens in Rocky Mount, N.C.

By Erika Schnitzer, Associate EditorRocky Mount, N.C.–United Property Management LLC, a Raleigh, N.C.-based management company of affordable housing, has opened Rollinwood Manor, a 64-unit affordable housing development for adults 55 and older who earn 60 percent or less of the area’s median income.The $5.8 million project was financed with $5.2 million in low-income housing tax credit equity investment from Enterprise Community Investments Inc., a $2.3 million construction loan from Mountain 1st Bank & Trust and $986,361 in funding from the North Carolina Housing Finance Agency.”Rollinwood Manor creates much needed investment in safe and affordable housing for seniors in eastern Rocky Mount,” says Stephen Smith, director of Enterprise Community Investment, Inc.Located at the intersection of South Glendale Drive in Edgecombe Country in Rocky Mount, Rollinwood Manor is a three-story elevator building with a secure keypad entry system, a resident computer center, library, entertainment room, courtyard and planter boxes for gardening.The development offers one-bedroom/one-bathroom, 732-sq.-ft. units for $385 and two-bedroom/one-bathroom, 970-sq.-ft. units for $450. The units include energy efficient appliances and washer/dryer connection. Prices include water and trash removal.Construction on the property began in April 2007 and was completed January 31. The property will be 70 percent occupied by the end of this week.The North Carolina Division for the Deaf and the Hard of Hearing, Wilson Regional Center will provide supportive services to the residents who they refer to the building. Ten percent of the project has been set aside for people with disabilities.

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