East Charlotte’s Eastway Crossings Affordable Housing Community Fully Leased in 30 Days
Raleigh, NC (February 20, 2024) – Harmony Housing Affordable Development Inc., along with Urban Trends Real Estate Inc. and CAHEC Management, Inc. announce the successful lease-up for a recently-constructed affordable housing community, Eastway Crossings in Charlotte, North Carolina. The 132-unit community was fully leased within only 30 days of receiving the Certificate of Occupancy, illustrating both the extreme need for affordable housing in east Charlotte as well as the successful collaboration between the development, ownership and property management firms.
As a Low-Income Housing Tax Credit (LIHTC) property, Eastway Crossings serves senior residents aged 55 years and older with household incomes at or below 60% Charlotte Area Median Income (AMI). Thirty-six of the units – approximately 30% of the total homes – are reserved for United States veteran residents through a Veterans Affairs Supportive Housing (VASH) project-based voucher contract, administered by local housing authority, INLIVIAN.
The common areas and amenities of Eastway Crossings are strategically designed to provide a high-quality living experience. The site is equipped with spaces designated for a variety of resident activities, includingaconference room, private one-on-one meeting room, craft room, computer center with library, large community room with warming kitchen and oversized screened-in seating area, along with ample tenant storage space. Additionally, on-site management staff will coordinate activities with local service providers to foster community engagement. Eastway Crossings is located along the LYNX Blue Line and is within walking distance of the recently completed Eastway Recreational Center, as well as the multi-million-dollar Community Resource Center planned by Mecklenburg County.
“The Eastway Crossings community holds a special place in our hearts because of the veterans housing and the positive impact we are able to make on these residents’ lives with a brand-new environment and in-house services,” said Tanya Eastwood, head of Harmony Housing Affordable Development. “Our collaboration with the teams involved in this endeavor has been seamless and gratifying, and we look forward to working together again on future affordable housing opportunities.” She continued, “This was no easy feat considering the end-of-year holidays and short time period to move everyone into their new homes. CAHEC Management not only accepted the challenge, but exceeded it.”
“We are so incredibly excited to see residents moving into Eastway Crossings and see their pride and jubilation as they move into their brand new homes,” said Chris Ogunrinde, President and CEO, Urban Trends Real Estate. “We are so thrilled with the collaboration with Harmony Housing and the impact we are making in Charlotte.”
The Eastway Crossings development was made possible by the collaboration of Harmony Housing Affordable Development, Urban Trends Real Estate, Harmony Housing, and many public-private partners including the City of Charlotte, Mecklenburg County, Inlivian, W.G. Hefner Veterans Affairs Medical Center, KeyBank, NCHFA, and CAHEC Management, Inc., among others.
About Harmony Housing Affordable Development Inc.
Driven by a passion for creating and preserving affordable housing in our nation’s most vulnerable communities, Harmony Housing Affordable Development is an industry-leading, mission-driven affordable housing developer and developer partner that specializes in construction, rehabilitation, repositioning, and recapitalization of projects. To date, the team has developed approximately 16,725 apartment homes with another 8,500 in various stages of completion in 16 states. The group’s mission is to create meaningful and significant impacts on communities by helping to provide low-wealth households with decent, safe, and affordable housing. For more information, visit www.HHAD.org.
About Urban Trends Real Estate Inc.
Urban Trends Real Estate Inc. is a privately owned, Charlotte-based development company that specializes in the creation and preservation of workforce and affordable housing. It balances profitability with social entrepreneurship and meets the investment objectives of its investors by creating a product that adds value to the cities and customers they serve.