Gardner Capital Completes Affordable Senior Living Community
The 80-unit, fully affordable community is located in Lexington, N.C., near Interstate 85 and the Cotton Grove Road retail corridor.
Arbor at Cotton Grove. Image courtesy of Gardner Capital
Gardner Capital has wrapped up construction on Arbor at Cotton Grove, an 80-unit affordable senior housing property in Lexington, N.C. Stratford Capital, Churchill Stateside Group and the North Carolina Housing Finance Agency were involved in the funding efforts, that included low-income housing tax credits.
Excel Property Management will act as manager for the fully affordable community that is currently leasing. The garden-style property will also be available for residents with disabilities.
Located at 7 Fritts St., Arbor at Cotton Grove is 3 miles south of central Lexington and less than a mile from Interstate 85. The property is serviced by a varied retail cluster along Cotton Grove Road, including Walmart, Wendy’s, McDonald’s and Walgreens.
According to Yardi Matrix, the property comprises 10, two-story buildings. On-site amenities offer a business center and playground, while some living units include private balconies.
Earlier this year, Gardner opened another affordable senior community in suburban Chicago. The Seldin-managed, 61-unit property serves residents 55 years and older.
