PRLog - Dec. 4, 2012 - RALEIGH, N.C. -- The City of Raleigh, Wake County, and Passage Home will be holding a groundbreaking ceremony on Tuesday, December 4th at 10:00 am for the new Coleman Street Multi-Family Housing complex to be constructed at 1002 Coleman Street in Raleigh, NC.
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The 18,000 square foot new construction project will provide 18 apartments of affordable housing to working families and addresses the continued need for additional affordable housing, especially for families that work in downtown Raleigh. The complex will offer housing, support services, and neighborhood activities to families in Raleigh.
Ten 2-bedroom units will be reserved for families at 80% or below Area Median Income (AMI), while eight units will be reserved for families at 40% AMI. In addition, a Passage Home Case Manager will work with each family housed at Coleman Street and offer additional support services, such as job training, financial literacy workshops, parenting classes, youth after-school program, and life skills.
The City of Raleigh has provided $1.2M plus the land value in a low-interest loan, including Neighborhood Stabilization Program (NSP) funds, towards this exciting project. In addition, Wake County has provided $400,000 of low-interest financing to Passage Home for development of this site. Passage Home, a local nonprofit organization focused on fighting poverty, is the developer of the Coleman Street housing project. LS3P Associates is the architectural design team and Monteith Construction is the general contractor. Paragon Commercial Bank has provided additional private financing for this project.
The groundbreaking ceremony will take place on Tuesday, December 4th at 10:00am, at 1002 Coleman Street in Raleigh.
ABOUT PASSAGE HOME:
Passage Home fights poverty and homelessness by strengthening families and neighborhoods. It is a nationally recognized nonprofit community development corporation that has been serving Wake County, N.C. since 1991 and has developed a network of corporations, congregations, and community organizations that are supporting this work. For more information, visit www.passagehome.org.