Neighborhood Development Annual Report 2020-2021

Printworks Lofts City financing: $1.2 million | Total cost: $56 million A multi-family feature of the historic Printworks Mill

Now Leasing

rehabilitation. In 2018, construction began on the 217 one- and two-bedroom mixed-income units. Financed with City housing bond and NC Low-Income Housing Tax Credit funding. Developer: Alexander Company Rents: $551-$803 per month for units assisted with City and state funds; up to $1,376 per month for market-rate units

1405 Lord Foxley Dr.

Richardson Village

Sold

Partnership Place

2205 E. Florida St.

City Aids in Affordable Housing Developments The City of Greensboro invests local and federal funds in the development of affordable single family houses, multi-family apartments and supportive housing for homeless and disabled residents. Low-cost City loan financing or grants offset more costly bank financing, which reduces development costs and allows units to be offered at a lower price point.

development project. Neighborhood Development works with our development partners to leverage private lending, state housing finance sources, and philanthropic partners to meet the affordability needs of homebuyers and renters. In fiscal year 2020-2021, construction work on active developments halted or slowed due to contractor availability, supply shortages, and social distancing protocols.

City funds are generally a small portion of the funds necessary to complete a housing

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