August 30, 2020– Hill Tide Partners is pleased to announce that South Creek Development, a Hill Tide Partner, has been awarded tax credits for four developments from the North Carolina Housing Finance Agency (NCHFA). The four developments are: Pegram Landing II, Woodfield Landing, Albemarle Landing, and Rock Quarry Landing. With a total development cost of more than $83 million, these four developments will add a total of 460 units of high quality, safe, affordable housing to families in North Carolina.
“We are excited to once again partner with NCHFA on these developments that will provide quality housing across the state of North Carolina and help meet the ever increasing housing demands in these communities,” says Charlie Heritage, South Creek Development’s founding Partner.
Albemarle Landing-Located in an exciting area of growth in Charlotte, this 128 unit, $24.5 million development will offer 2 and 3 bedroom units. The site will include a clubhouse, playground, picnic shelter, and gazebo, fitness room, computer center for residents, and an on-site management office. The 4-4 story buildings will each include elevators. Construction is planned for mid 2021 with completion in 2022.
Rock Quarry Landing-A $34 million development, Rock Quarry Landing will offer 192 units including 1, 2, and 3 bedroom units. Conveniently located at the corner of Rock Quarry and Sunnybrook Roads, will include 6-3 story buildings, a clubhouse, playground, tot lot for younger kids, a picnic shelter, fitness room, computer center residents, and a gazebo. Construction is planned for mid 2021 with completion in 2022.
Pegram Landing II-Located in Lewisville, NC, Pegram Landing II will consist of 60 units including 1, 2, and 3 bedroom units. With an estimated development cost of over $10 million, the site is located adjacent to the successful Pegram Landing phase I property. Similar to phase I, there will be 5-3 story residential buildings. Site amenities for residents to enjoy include a picnic shelter, playground, and community center. Construction is planned for mid 2021 with an opening in mid 2022.
Woodfield Landing-80 units comprised of 1, 2 , and 3 bedroom units will be constructed adjacent to the Woodfield Cove community in Havelock, NC. There will be 10-2 story buildings spread around the site and amenities will include a community center, playground, picnic shelter, and gazebo. Construction for this planned $13.5 million development is scheduled for 2021 with an opening in 2022.