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Woda Cooper Opens 50-Unit Affordable Seniors Housing Community in Hickory, North Carolina

HICKORY, N.C. — Woda Cooper Cos. Inc. has opened Center Crossing, a 50-unit, four-story affordable seniors housing community in Hickory that offers one- and two-bedroom apartments. Five of the units are accessible for those with mobility challenges, including two units specifically equipped for those with sight and hearing impairments.

The property serves residents aged 55 and older who earn 40 to 80 percent area median income (AMI). Rental rates range from $356 to $921 per month, depending on unit size and income restriction.

Community amenities include an onsite management office, a multipurpose space with laundry and a fitness center, as well as a computer room. The property also features off-street parking, a covered patio with seating, additional outdoor seating areas and a covered bus stop.

North Carolina Housing Finance Agency (NCHFA) allocated federal Low-Income Housing Tax Credits (LIHTC) to support equity financing for Center Crossing, including two permanent debt loans. Western Piedmont Council of Governments provided a $250,000 Home Loan through its Unifour Home Consortium. CREA LLC purchased the tax credits which also provided equity for the project. RiverHills Bank provided a $6.9 million construction loan and a first mortgage loan of $975,000.

Woda Construction Inc., an affiliate of Woda Cooper, was the general contractor. Raleigh-based TightLines Designs is the property’s architect, Mc2 Engineering Inc. is the civil engineer and Fluhrer Reed is the structural engineer.

The post Woda Cooper Opens 50-Unit Affordable Seniors Housing Community in Hickory, North Carolina appeared first on Seniors Housing Business.

Source: Senior Housing Business

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