Mixed-income housing in Grier Heights gets $4.8 million boost from Mecklenburg County

By Genna Contino, The Charlotte Observer

 

Mecklenburg County Wednesday approved a deal with affordable housing developer DreamKey Partners to provide $4.8 million for a mixed-income development in Grier Heights.

The development plans show 289 units — 235 rentals and 54 homes for sale in the historically Black neighborhood southeast of uptown.

The rental units will be income-adjusted for households that make between 30% and 80% of Charlotte’s area median income— $25,000 to $67,000 annually for a family of four, according to DreamKey Partners income limits guide. This sets monthly rent at approximately $625 to $1,675.

The rentals must remain income-adjusted for 30 years, and 80 units will be reserved for seniors.

The estimated mortgages for the units for sale will be $168,000 with monthly payments of $1,132. Without any help from the county, the homes for sale would cost about $262,000, according to the county’s presentation.

Read more at The Charlotte Observer

The Charlotte Journalism Collaborative is supported by the Local Media Project, an initiative launched by the Solutions Journalism Network with support from the Knight Foundation to strengthen and reinvigorate local media ecosystems.

Menu