Eastway Crossings Groundbreaking Ceremony
On Wednesday, April 20, 2022, Greystone Affordable Development and Urban Trends Real Estate Inc. are celebrating the groundbreaking for Eastway Crossings, a multifamily affordable housing community located in east Charlotte, North Carolina. Greystone and Urban Trends are co-developers working on behalf of Harmony Housing, a national non-profit specializing in affordable and workforce housing across the country. This is Greystone Affordable Development’s first new construction project in the Charlotte market and the first collaboration between Urban Trends and Harmony Housing. The 132-unit multifamily project will serve senior residents aged 55 years and older with household incomes at or below 60% Area Median Income (AMI). Forty of the units will be reserved for veterans through a Veterans Affairs Supportive Housing (VASH) project-based voucher contract. To fund the $29 million development of Eastway Crossings, the co-developers have worked with local, state, and federal partners to create much needed affordable housing for the most vulnerable senior and veteran households. The community is located within walking distance to several amenities, including the LYNX Blue Line, the recently completed Eastway Recreational Center, and a planned Community Resource Center. The partners are very excited about adding this much needed affordable housing to the community.