WAITING
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The Charlotte Housing Authority is waiting on HUD (not Paul Newman) to help with the financing of its $25M Lofts at Seigle Point, a 190-unit multifamily development proposed for the Seigle Avenue area near uptown. (It's been designed as a mix of affordable and subsidized housing.) A for-sale townhome project and another cluster of apartments have already been built in the area, a focal point of the city's neighborhood revitalization efforts for several years. But the Lofts project has been held up nearly a year because changes in how HUD processes loans created an unexpected log jam, CHA development officer Jeff Meadows tells us. (CHA is seeking about $20M from HUD.) ?All indicators are we appear to be moving forward,? Jeff says. But for now, it's a waiting game. Incidentally, the changes HUD has made were intended to expedite multifamily development. (Hope they don't go into trauma care.) |
