4% New Construction

A community that will serve individuals and families in Raleigh, North Carolina.

Project at a Glance

New Bern Crossings will be a 192-unit affordable housing rental community. Situated right off the City of Raleigh’s Wake BRT route, the location will provide access to first-class public transportation and resources. 

The Mission

To provide additional critical affordable housing stock in North Carolina, serving residents with incomes ranging from 30% to 60% Area Median Income (AMI).

The Partnership

Greystone Affordable Development has partnered with Haven Developers and Harmony Housing (an affiliated nonprofit owner and operator of affordable housing).  This is the company’s first collaboration with Haven Developers of Durham, NC.  

The People

The project will target individuals and families of risk of homelessness or experiencing homelessness.

Key Partners

• LIHTC Allocating Agency: North Carolina Housing Finance Agency
• Bond Issuer: Raleigh Housing Authority
• Subordinate Lender: Wake County Affordable Housing Development Program
• Subordinate Lender: City of Raleigh Community Rental Development Program