CHARLOTTE, N.C. — A new mixed-income development will be coming to the Grier Heights neighborhood, a historically Black neighborhood just southeast of Uptown Charlotte.
A drive around the neighborhood shows signs of aged homes, but there are also brand new townhomes, and more are being built.
“It’s going to change the whole area, move us out... that’s what I think, get rid of all these people over here," Grier Heights resident Shawnita Scott said.
Mecklenburg County recently approved a $4.8 million deal with affordable housing developer DreamKey Partners.
President of DreamKey Partners Julie Porter told WCNC Charlotte the area is facing gentrification and this project may allow for some people to stay.
“The neighborhood right now is gentrifying and so many of the long-term residents are actually being displaced," Porter said.
To help stop that displacement, DreamKey Partners plans to build 289 units off of Wendover Road, near Randolph Road Park. The current address is 3500 Ellington Street.
Within the development, 235 units will be rentals and there will be 54 homes for sale.
The rental units will be income-adjusted for households that make between 30% and 80% of Charlotte’s area median income, which is $25,000 to $67,000 annually for a family of four. It sets rent at approximately $625 to $1,675.
The estimated mortgages for the units for sale will be $168,000 with monthly payments of $1,132. Without help from the county, it would be much more.
“Many of the residents who live there, they want to see something that the people who live there their entire lives can actually afford, and that is challenging," Porter said. "But the way the county has subsidies this with funding, it’s possible."
The county dollars will help subsidize the units for sale and provide public road infrastructure, including water and sewer fees. Lastly, provide funding for wetlands environmental mitigation.
Other funding for this project comes from tax credits, loans, a congressional allocation, the city housing trust fund, and a Community Development Block Grant.
Residents like Shawnita Scott are hopeful for the opportunity to move into the new development once completed and hope it will bring good to the neighborhood.
Development is set to start late in the third quarter of this year. Porter told WCNC Charlotte they plan to start with single-family housing first.
Contact Lexi Wilson at lwilson@wcnc.com and follow her on Facebook, Twitter, and Instagram.