WAITING

The Charlotte Housing Authority is waiting on HUD (not Paul Newman) to help with the financing of its $25M Lofts at Seigle Point, a 190-unit multifamily development proposed for the Seigle Avenue area near uptown. (It's been designed as a mix of affordable and subsidized housing.) A for-sale townhome project and another cluster of apartments have already been built in the area, a focal point of the city's neighborhood revitalization efforts for several years. But the Lofts project has been held up nearly a year because changes in how HUD processes loans created an unexpected  log jam, CHA development officer Jeff Meadows tells us. (CHA is seeking about $20M  from HUD.) ?All indicators are we appear to be moving forward,? Jeff says. But for now, it's a waiting game. Incidentally, the changes HUD has made were intended to expedite multifamily development. (Hope they don't go into trauma care.)

Continue reading this story with a free account

Log in or register
Related Topics: Jeff Meadows , Paul Newman
Sign up for more articles like this
Subscribe to Bisnow's Charlotte Newsletters
Related Stories

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Luxury Marriott Hotel Will Take Space In Charlotte Office Conversion

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient

Sixers And Flyers Unveil Renderings Of South Philly Arena Due In 2030

The Opportunities, Limitations And Benefits Of Reserved Investor Funds

After 5 Years Of Gains, Commercial Real Estate's C-Suites Just Got Less Diverse