Wood Partners to Wrap Construction This Month on $13 Million Affordable Active-Living Community in Charlotte
Move-Ins Beginning This Week at Steele Creek Seniors Community
(firmenpresse) - CHARLOTTE, NC -- (Marketwire) -- 10/17/11 -- Wood Partners announced today that it is nearing completion of construction of the $13 million Steele Creek Seniors community in southwest Charlotte, North Carolina. The company has received certificate of occupancy for the amenity areas, leasing office and clubhouse as well as 54 units. The property already is 50 percent leased and the first move-ins began this week.
"The Steele Creek Seniors community serves a critical need for new, clean, affordable housing for lower to moderate income seniors in the Charlotte area," said Ray Smith, a director of specialty housing in Wood Partner's Charlotte office. The construction and operation of the Steele Creek Seniors community has generated an estimated 192 local jobs.
Wood Partners broke ground on the construction of the affordable 120-unit age-restricted community, which was developed in partnership with the Charlotte Housing Authority (CHA), in November 2010. The final phase of construction, which was partially financed by low-income housing tax credits, is expected to be completed before the end of the month.
"Our construction arm, WP East Builders, was the general contractor on this project and they were outstanding," Smith said. "Phil Vetter was the Senior Project Manager and Jeff Rikard was the General Superintendent, and they both just did an incredible job of turning this project around under time and under budget. Director Carter Siegel also did an exceptional job with the development of this property."
Equity partner for the Steele Creek Senior development is RBC Capital Markets. The architecture was designed by Watts Leaf Architects, PA.
Steele Creek Seniors represents Wood Partners' second affordable age-restricted living development in the Charlotte area, following on the opening of the 168-unit Prosperity Creek Senior Apartments community in 2007. Ensuring affordability was of the highest priority on the Steele Creek Seniors project. The units are split approximately equally between individuals earning up to 30 percent of the area median income (AMI) and those making no more than 60 percent of the AMI. The total includes those qualifying for Section 8, who receive assistance vouchers from the CHA.
"Wood Partners' attention to detail and strong execution of construction are the building blocks of quality communities to serve seniors in our city," said Jeffrey Meadows, Senior Development Officer for the CHA. "They are a valued partner of the Charlotte Housing Authority."
Steele Creek Seniors, which is located less than 10 miles from downtown Charlotte at 4314 Branch Bend Lane in southwest Charlotte, lies less than two miles, south and west, from two interchanges with the Governor James G. Martin Freeway (Interstate 485). This recently completed section of the outer-beltway offers Steele Creek residents quick and convenient access to Charlotte-Douglas International Airport (CLT) less than 10 miles to the north, I-85 to the west and I-77 to the east.
The development sits on seven acres and includes 102 one-bedroom and 18 two-bedroom units in a single, four-story building covering just under 100,000 square feet, of which more than 92,000 is livable space. Among its exceptional amenities are a library, laundry facilities, fitness and crafts rooms, a full-service salon, a computer lounge and a community meeting room with theatre. The pastoral grounds include outdoor gazebos and garden plots.
The nearby RiverGate shopping center features several destination anchor stores, including a Super Target and Home Depot as well as many smaller, upscale boutiques in a pedestrian-friendly environment. The centerpiece of RiverGate is a "main street" style layout featuring a park and water feature, an outdoor seating area, and extensive landscaping.
South Carolina's Lake Wylie, just a mile and a half due west of Steele Creek Seniors, has 325 miles of shoreline and is ideal for boating, fishing, water skiing and sailing as well as year-round outdoor activities such as golf, tennis and bicycling. For sports lovers, the NBA's Charlotte Bobcats play at the Time Warner Cable Arena and the Charlotte Knights, the Triple-A affiliate of the Chicago White Sox, play professional baseball at Knights Stadium just a few minutes away in Fort Mill.
is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 36,000 homes with a combined value of more than $4.5 billion nationwide. To learn more about Wood Partners, please visit our Web site at
Vanessa Showalter
Media Strategist
Anton Communications
949-748-0542
Genevieve Anton
Principal
Anton Communications
714-544-6503
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Datum: 17.10.2011 - 08:00 Uhr
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