Woda Breaks Ground on North Carolina Senior Community
- Nov 02, 2020
Woda Cooper Cos. Inc. has kicked off construction on Center Crossing, an affordable senior property in Hickory, N.C. Upon completion, the 50-unit community will serve residents 55 or over, earning 80 percent or less of the area’s medium income.
The project received primary financing through the allocation of federal Low-Income Housing Tax Credits by the North Carolina Housing Finance Agency, with CREA LLC acting as equity investor. The community also obtained a $250,000 HOME loan from Western Piedmont Council of Governments, through its Unifour Home Consortium.
Some units will be reserved for seniors with earnings 40, 50 and 60 percent of AMI. A number of apartments will meet the needs of residents with sight/hearing impairments, while others were designed for individuals with mobility issues.
The property is located at 105 S. Center St., between First Avenue and Second Avenue, in downtown Hickory, offering easy access to Interstate 40. A bus stop is available in front of the site.
Health and Safety Standards
The four-story building will provide elevator access to 28 one-bedroom and 22 two-bedroom units. Community amenities include fitness center, computer room, multifunctional space with kitchenette and laundry services. The developer is aiming for an ENERGY STAR 2.0 rating for the community’s energy-efficiency standard.
TightLines Designs was the architect and Mc2 Engineering Inc. oversaw engineering, while Woda Construction Inc. is the general contractor. RiverHills Bank provided the construction loan and permanent debt mortgage. Woda will also manage the property.
In August, another affordable senior housing community broke ground in Orlando, Fla. Its first phase will deliver 110 units for adults aged 55 and over, while the upcoming second phase will add 86 more apartments.