Affordable-Housing Group Experiences Ephesus-Fordham Setback
A Raleigh-based non-profit organization that provides affordable rental housing will have to re-submit its application for tax credits next year to develop 8.5 acres off Legion Road, as part of the new Ephesus Fordham District in Chapel Hill.
According to a Town of Chapel Hill media release, DHIC of Raleigh made an oversight during the application process for state Low Income Tax Credit funds to develop two rental communities. The plan includes 84 apartments for working families, and 60 units for senior citizens.
As a result of its error, DHIC was notified on August 15 that the application was unsuccessful.
DHIC reportedly intends to re-submit an application to the NC Housing Finance Agency in January.
Gregg Warren, the president of DHIC, is quoted in the media release as saying that it was “an unfortunate setback, but it is not unusual to take two or three years for such projects to move forward.”