By CLARA CARTRETTE
A $2.9 million, 32-unit apartment complex that will be built in the Town of Brunswick will add to the town’s tax base, population and utility service.
Brunswick Place will be built on a six-acre tract off Millpond Road behind the corner lot that fronts N.C. 130, beginning east of Julia Lane. There will be one, two and three-bedroom affordable rental units. Charlie Caiseal Development of Raleigh is the developer. The total cost will be $2,974,575, and the project received $2,333,100 federal tax credits.
Town Manager Al Leonard said that the town is prepared to make a $32,000 contribution to the project, and has made inquiries to grant agencies for an additional $100,000 to help fund the project.
“I feel that funding will be successful, but we don’t have definite funding yet,” Leonard said last week.
Adequate water and sewer is already accessible to the complex site.
Leonard said the 32 apartments will provide Brunswick with its largest residential tax base, will generate a larger population and will be a large utilities customer.
The N.C. Housing Finance Agency recently announced that the state will gain $210 million in affordable rental apartments as the result of federal tax credits and other financing approved by the Tax Reform Allocation Committee and North Carolina Financing Agency, and that 414 affordable apartments will be financed through the sale of $13.9 million of tax-exempt bonds.
The $16.8 million of tax credit awards will finance 39 developments providing 2,078 privately owned, affordable apartments in 27 counties.
Brunswick Place is included in the list, as is Columbus Court Apartments, a public housing complex at 310 West Calhoun Street in Whiteville that is targeted for a $4.4 million rehabilitation. Columbus Court received $3,922,950 federal tax credits.
Sen. R.C. Soles Jr. and Rep. Dewey Hill helped spearhead the push for $3.9 million federal and state grant monies and tax credits to rehabilitate the 50-unit Columbus Court Apartments.
“This a good step in the right direction to see that all citizens have safe, affordable housing,” Soles said.
Hill said the Brunswick Place apartment complex will offer affordable housing where it is needed. (Nicole Cartrette contributed to this story.)