A whole bunch of Attempt to Get Right into a New Inexpensive Housing Mission in Greensboro Show There’s a “Want” | Firms
Ryan Ridge Apartments on Rehobeth Church Road were built in Greensboro with $ 900,000 in city bonds. All but two of the 60 units have already been rented.
Ryan Ridge Apartments on Rehobeth Church Road were built on October 24, 2019 with & 900,000 in City Bond Funds in Greensboro, NC. Of the 60 available units, all but 16 have been rented. (H. Scott Hoffmann / News & Record)
Ryan Ridge Opening: New tenants and officials cut a ribbon for the new affordable Ryan Ridge apartments on Rehobeth Church Road. Left to right: Mark Morgan, developer, new tenants Vanessa Campbell and Tara Steward, councilors Sharon Hightower and Marikay Abuzuaiter.
GREENSBORO – Vanessa Campbell is one of those people who are lucky enough to find affordable housing in the city. There are many who cannot.
She has just moved into the Ryan Ridge Apartments on Rehobeth Church Road – 60 units partially funded by 2016 Greensboro residential bonds.
According to the developer, 58 of the apartments are already rented.
“This is a testament to the importance of a nice home to ordinary people in Guilford County,” said Campbell.
A group of city and business officials came to Ryan Ridge Friday morning to discuss the importance of the $ 8 million project and to cut a ribbon in celebration. It is the first development to be supported by the $ 25 million residential bond approved by residents a few years ago.
The need for affordable housing is an urgent issue for the city guides. UNCG researchers say there are between 30,000 and 40,000 households in Greensboro who are “burdened with rent,” meaning that a significant percentage of their income is paid for housing and little money is left for other needs.
With an average rental in Greensboro around $ 900 a month, developers find it easier to build luxury homes because they generate higher profits.
With public housing and private affordable housing being so scarce, experts say part of the solution is finding private companies that can take advantage of tax breaks and government and local funding programs like Greensboro’s residential bonds. You also need to be ready, like developers