Woda Cooper Companies, Inc. released a short video to celebrate the recent start of construction at Center Crossing in downtown Hickory, North Carolina. The 50-unit affordable rental community will be near the city’s downtown Union Square and will serve seniors aged 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.
North Carolina Housing Finance Agency (NCHFA) allocated federal LIHTCs to the development to support equity financing. Western Piedmont Council of Governments (WPCOG) provided a $250,000 HOME loan through its Unifour Home Consortium. CREA, LLC is equity investor. Lender is RiverHills Bank.