Greystone Continues to Meet Crucial Need for Affordable Housing
Greystone Affordable Development and Weaver-Kirkland Development are proud to have completed the construction of their first joint development, Kirkwood Grove Apartments in Hudson, NC. The last Certificate of Occupancy was received on January 18, 2023 and they achieved 100% occupancy just 2 weeks later. This success is due in part to the hard work and dedication from the property management team at Partnership Property Management (PPM). The team delivered 70 units of affordable senior apartment homes to the local community, helping them achieve their shared mission – to increase the supply of and access to affordable housing.
This effort would not have been possible without the use of 9% Housing Tax Credits awarded from NCHFA, USDA Section 528 financing provided by Churchill Stateside Group, and the NCHFA’s Workforce Housing Loan and Rental Production programs, as well as HOME Investment Partnerships funds provided by the Western Piedmont Council of Governments Unifour Consortium.
Though faced with many obstacles in completing this development during a pandemic, rising construction costs, supply chain shortages, and rising interest rate environments, the team persevered and delivered this property in only one year. It takes a village to meet the crucial affordable housing needs, and we are so excited to welcome the new residents home to Kirkwood Grove.