CHARLOTTE, N.C. — The revitalization of some Charlotte neighborhoods like Lower South End and Grier Heights brings excitement for people that live there, but also concerns about gentrification. Developer Dreamkey Partners is seeking solutions for affordable housing in the changing neighborhoods.
"When your neighborhood starts to get gentrified everybody gets pushed out," Jae, who didn't share his last name, told WCNC Charlotte.
Jae is looking for an apartment in Lower South End but said he hasn’t had much luck.
"It’s getting a little expensive and we’re talking about moving out of the city completely because of it," he added.
New luxury apartments are popping up on South Boulevard and forcing many renters like Jae to leave. However, one incoming project promises to be affordable.
The South Village Apartments will go on Dewitt Lane by the light rail's Scaleybark Station. Rent prices for the apartments and townhomes will vary based on a renter’s income level.
For example, if someone makes about $40,000 annually, they could get a one-bedroom apartment in the community for $990 a month.
"Anything that is actually on the light rail, we've had a difficult time actually developing affordable housing on, especially on the South Boulevard side," President of Dreamkey Partners Julie Porter told WCNC Charlotte.
South Village is one of the first affordable projects near the light rail.
Porter said she is also excited about the organization's for-sale affordable development coming to Grier Heights. The neighborhood has seen a lot of change over the last few years with newer, more expensive houses.
Dreamkey will build the Aveline Townhomes on Orange Street and sell them at lower prices based on a buyer’s income. For example, a family of four that makes about $56,000 a year could get a three-bedroom townhome for about $250,000 or less.
The houses will also be eligible for Charlotte's down payment assistance program.
Porter hopes the two projects will help prevent people from being priced out of Lower South End and Grier Heights but the demand for affordable housing far outweighs the supply.
"It is just a conundrum," Porter said. "I don't think we can develop fast enough as a community to really take care of the full need right now."
Dreamkey plans to list some of the Grier Heights townhomes in about six months and will prioritize clients of the House Charlotte Program.
The Lower South End apartments are expected to be ready by the end of 2024.
Contact Julia Kauffman at jkauffman@wcnc.com and follow her on Facebook, Twitter and Instagram.
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