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Affordable Housing Expands in Charlotte as NHE Brings Ovata at Reedy Creek to Life
Now, with the groundbreaking of Ovata at Reedy Creek in Charlotte, Davis is undertaking development of his third affordable community in North Carolina – this designed for seniors 55 years of age and better – to help address the soaring demand for quality affordable housing while faced with a significant undersupply in communities across the country.
"Throughout the Carolinas and across America, there is a startling deficit of high-quality, affordable housing for families, senior citizens and those of lesser means," says Davis, President & CEO of NHE, a South Carolina-based developer and property management organization. "Every American deserves the opportunity to live in a quality place where they can be happy, safe and host friends or family in. We want to continue to do our part with the development of Ovata at Reedy Creek."
Construction of the 78 one- and two-bedroom apartment homes at Ovata at Reedy Creek, located at 9729 Newell Hickory Grove Road in Charlotte, are now underway with target occupancy in Summer 2024. Located off East W.T. Harris Boulevard in northeastern Charlotte, the community -- made possible with Low-Income Housing Tax Credits and support from the Charlotte Housing Trust Fund – will be a mixed income property. It will be home to residents earning 30%, 50%, 60% or 70% of the area median income, or a range of $15,000 – $50,000 annually.
Construction on Ovata at Reedy Creek began in June 2023 with site preparations, and leasing will begin next Spring, with residents moving into units in Summer 2024.
Residents of Ovata at Reedy Creek will enjoy the convenience of interior hallways and a central elevator system, along with in-home amenities including Energy Star appliances, luxury vinyl flooring, microwaves, wiring for high-speed internet, and washer and dryer hookups. Community amenities include a community room with kitchenette, library and computer lab, fitness room, onsite leasing office and laundry room.
Ovata at Reedy Creek also provides convenient and comfortable living for senior citizens wanting convenient access to shopping, dining, grocery and healthcare facilities, and is near to the popular Reedy Creek Park and Nature Preserve. The community will also be served by CATS, the Charlotte Area Transit System.
Ovata at Reedy Creek partners include development group NHE, Inc. and SCG Development Partners, which are building and financing the project utilizing LIHTC credits administered by the North Carolina Housing Finance Agency. Other key partners include United Bank, Stratford Capital Group, Centrant Community Capital, C. Herman Construction and the Charlotte Housing Trust Fund.
For additional information, visit www.NHE-Inc.com.