ACQUISITION / PRESERVATION / REDEVELOPMENT

Pines at Carolina Place

The Pines at Carolina Place is located in Pineville, the largest and arguably best suburb of Charlotte, North Carolina. Situated on ten acres with 389 parking spots, its 200 garden-style apartments offer one-, two-, and three-bedroom units. Apartment features include balconies, patios, walk-in closets and central AC. The Pines at Carolina Place has exceptional access to top-rated public schools, healthcare providers, shopping/dining options and employment hubs.


TOTAL COST
$ 18,050,000

DESCRIPTION
Pines at Carolina Place consists of 36 one-bedroom units, 116 two-bedroom units, and 48 three-bedroom units. All units were financed through the Low Income Housing Tax Credit Program. All of the current households are at or under 60% AMI, making them income-eligible for tax credits.

FINANCING
$ 6,779,500Fannie Mae
$ 3,700,000Low Income Investment Fund (LIIF)




FOLLOW OUR COMMUNITY BUILDING

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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

This property is just one example of how NHPF’s commitment to affordable housing has helped American families.

ABOUT THE NHP FOUNDATION
Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF also provides a robust resident services program to more than 28,000 community residents. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has preserved 81 properties, totaling 14,259 units in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 40 properties, totaling 6,801 apartment units, in 16 states and the District of Columbia.