RALEIGH—Many seniors in North Carolina struggle to find safe housing that they can afford as they age. In Zebulon, dozens of senior households will now have a home to enjoy for years to come at Shepard Greene, a new affordable apartment development.
Shepard Greene will hold a grand opening and ribbon-cutting ceremony on Monday, April 8 at 11 a.m., at 626 Shepard School Road in Zebulon.
Affordable apartments like Shepard Greene provide comfortable, safe and secure places to age in place for seniors aged 55+ who are at or below 60 percent of the area median income, keeping them in their apartments and out of costly institutions. The three-story building features an elevator, a computer center, fitness room, storage units, laundry facilities, bright open living spaces, quality finishes, energy-efficient features and community spaces. Five apartments have ADA features for residents with mobility impairments, and two are designed for residents with hearing and sight impairments.
Shepard Greene was developed by Woda Cooper Companies, Inc. (formerly the Woda Group) and funded in part by Housing Tax Credits, administered by the North Carolina Housing Finance Agency. The Agency awards Housing Credits every year under a highly competitive process, receiving three to four applications for every one that receives credits. In exchange for the financing provided through the tax credit, owners agree to keep rents affordable for a period of 15 to 30 years for families and individuals with incomes at or below 60 percent of the local median income. The Housing Credit has financed nearly 100,000 apartments in North Carolina for seniors, working families and people with disabilities.
“Housing Credit developments serve renters whose needs are not met by the market. Seniors with lower incomes are often squeezed by rising housing costs at the same time that their health care expenses may be climbing,” said Scott Farmer, executive director of the NC Housing Finance Agency. “Shepard Greene will make a significant difference for seniors in Zebulon and is a good example of how affordable housing investments can impact communities and their residents.”
For more information about the NC Housing Finance Agency and how it finances affordable housing statewide, visit HousingBuildsNC.com.
The North Carolina Housing Finance Agency, a self-supporting public agency, has financed 282,080 homes and apartments since its creation in 1973.
