Mayor Talks Rent Hikes, Renovation at Long-Standing Carrboro Apartments

The topic of affordable housing is a top issue the Town of Carrboro faces as another long-standing apartment complex undergoes renovations and rent hikes.

The Crest at West End apartment community in Carrboro is being changed to the West End Flats, as Eller Capital Partners works to update the units inside and out. The complex was purchased by the Chapel Hill-based real estate firm back in June.

While the firm’s goal is to keep the apartments affordable for its residents, Carrboro Mayor Lydia Lavelle acknowledges the parallel rent hikes that will follow renovations may be a big blow to current and future tenants.

“These apartment complexes, many of them become our affordable housing,” Lavelle said. “Obviously they can’t get into disrepair, obviously they serve a need for what we call ‘work-force housing’ – somewhat affordable rental units as compared to some other places – but it is a bit of an issue.”

The president and CEO of Eller Capital Partners, Daniel Eller, acknowledged the lack of affordable housing in the area but still said these renovations are necessary.

“Affordable housing and old aren’t synonymous,” Eller said. “One of the things we’ve seen in Chapel Hill and Carrboro is a lot of affordable housing is old, sub-standard housing that just hasn’t been well-maintained over time. That’s where this particular property was headed.”

These long-standing apartment complexes have provided a bulk of the community with affordable housing for decades, especially for families. This particular complex off of Highway 54 was originally built in 1988.

Mayor Lavelle said even she lived in The Crest at West End complex while attending law school, back when it was brand-new.

“That’s kind of the reality with some of these aging apartment complexes that we have,” Lavelle said. “Many of us can kind of remember where this was the place where everyone stayed.”

Eller said despite rent prices being raised due to the renovations, the goal for West End Flats is to help create a space for people working in southern Orange County.

“It is still in the affordable housing bucket, it’s still fulfilling a huge need that we have in Chapel Hill for workforce housing,” Eller said. “I would say [it] is probably the largest hole in the market, even more so than the low-income housing market, which is also important and is being addressed in other ways.”

Apartment renovations are expected to cover everything apart from the physical layout of the structure… including new floors, paint jobs, counter tops and backsplashes. Plans are also in place to replace windows, update appliances and change out the plumbing and electrical fixtures.

Eller says it’s likely all 188 units in the complex will be complete in about 18 months as tenants cycle out.

Photo via Eller Capital Partners.

Mayor Talks Rent Hikes, Renovation at Long-Standing Carrboro Apartments

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