A new development is bringing affordable housing options to seniors in Charlotte, North Carolina.
Paces Preservation Partners, a development partnership between The Paces Foundation and Soho Housing Partners, recently held a grand opening ceremony for The Legacy at Carr Heights Senior Apartments.
Sitting on a little more than 4 acres, the community for residents 55 and older features one- and two-bedroom apartments with controlled entry, a fitness and community center, fully equipped modern kitchens that have custom cabinetry and hard-surface countertops, spacious closets, and planned resident activities.
“The apartments at The Legacy at Carr Heights not only provide much-needed housing for seniors, but also help to strengthen the community as a whole,” said Steven Bauhan, chief development officer of The Paces Foundation.
The 120-unit project honors its namesake, Nathaniel Carr, a Black landowner, farmer, and developer, who along with his wife, Lizzie, established the Carr Heights neighborhood for Black home buyers a century ago.
“Housing for seniors is a pressing need in Charlotte, and The Legacy at Carr Heights demonstrates the benefits of a public-private partnership in addressing this need,” said Steve Bien, president of Soho Housing Partners. “This development reflects the progress and promise of the Nathaniel Carr community: providing modern, high-quality housing units for seniors 55 years old and older.”
Financing partners in the $31 million development include Fifth Third Bank, Raymond James Affordable Housing Investments, Barings, Local Initiatives Support Corp., Charlotte Housing Opportunity Investment Fund, city of Charlotte Housing Trust Fund, North Carolina Housing Finance Agency, and Inlivian.
Other project partners include Neighboring Concepts (design team); Urban Design Partners (engineering team); Nelson Mullins (legal team); Moore & VanAllen (zoning and planning); Give Impact (development consultant); Weaver Cooke (contractors); and SL Nusbaum (management company).
Other partners include the West Side Community Land Trust as the land purchaser and long-term ground lessor to the partnership, and the West Boulevard Neighborhood Coalition signed the first community benefits agreement with the development team.
