North Carolina Construction News staff writer
Affordable Housing Management Inc. (AHM) has launched a major rehabilitation of Southwoods, an apartment development with 59 affordable units.
“This major rehabilitation of Southwoods will enable the property to provide much needed affordable housing at an increased level of energy efficiency resulting in lower utility and maintenance costs,” said David Levy, AHM executive director.
The City of Greensboro is funding Southwoods’ rehabilitation project with $2,079,823 in American Rescue Act funds through a zero percent interest loan. The project was approved by City Council in October 2022 and authorized for contracting in May 2023.
Construction is expected to be complete by the end of 2024. Occupancy is limited to households earning less than 50 percent of area median income. Rent will be $485 per month per unit.
The development’s rehab will be certified under the National Association of Home Builders’ National Green Building Standard and federal Energy Star programs.
“The city funded the initial construction of Southwoods in 1997 and is investing once again to continue the provision of quality, affordable, housing at this location,” said Michelle Kennedy, department director. “Our Housing and Neighborhood Development staff will work with the developer throughout the rehabilitation process to perform inspections, coordinate with other funding sources, and ensure compliance with city funding requirements.”