Wilson, NC, August 16, 2024 –Woda Cooper Companies, Inc. joined with representatives of the City of Wilson and other supporters, including representatives of the North Carolina Housing Finance Agency (NCHFA) to celebrate the construction start of Pender Crossing, a 48-unit affordable apartment community for residents earning between 40% and 60% of the area median income. Pender Crossing will provide 18 one-bedroom, 18 two-bedroom apartments, and 12 three-bedroom townhomes, including several units with features for those with disabilities.
Pender Crossing will be an important new option for Wilson renters, including families with children, who have struggled to find suitable, quality housing at affordable rates. The City of Wilson lent its support by providing a long-term ground lease at a value that will help assure affordable rents.
“The city of Wilson is committed to the pursuit of high-quality, affordable housing, said Mayor Carlton Stevens. “We understand safe, enjoyable, affordable housing is imperative for families to thrive. We’re thrilled to be able to offer the Pender Crossing project to the community and extremely grateful to the North Carolina Housing Finance Agency, Woda Cooper, and all that made this day possible. I can’t wait to see this project completed.”
Rodger Lentz, Assistant City Manager, added his perspective of the importance of revitalizing the local area where Pender Crossing is being developed. “We are pleased to break ground on this project, which is another step in the revitalization of the area between downtown and US 301. We’ve had many partners and staff working to make this project possible. One of the most important pieces was the awarding of the highly competitive Low-Income Housing Tax Credits, a very important tool in creating affordable housing. We cannot thank the North Carolina Housing Finance Agency enough for partnering in Wilson’s revitalization plans. We look forward to uniting on more projects in the future. We’re also excited about the new Pender Street Park that will be constructed near this site, made possible by a federal grant facilitated by retired Rep. G. K. Butterfield.”
Apartments at Pender Crossing will have open concept design with ENERGY STAR appliances, including dishwashers, quality cabinetry, luxury vinyl tile flooring, attractive finishes, blinds, washer/dryer closets with connections. Each unit will have a 16 square food dedicated storage closet. The community building will include a multipurpose community room with kitchenette that residents can use for social gatherings, fitness center, computer room, laundry facility, and an onsite management/leasing office.
Exterior amenities at Pender Crossing will include a playground and a covered picnic area with tables and grills. Additional benches will be located throughout the property.
“Pender Crossing will provide brand new, quality affordable homes for Wilson residents who work in many jobs that are essential to the local economy,” said Denis Blackburne, Senior Vice President – Development. “These units will be very attractive with features that renters want like dishwashers, space for a washer or dryer in their unit, and plenty of storage. Amenities designed for families with children include an onsite playground. There are also units suitable for individuals and couples, along with adapted units for those with disabilities. We anticipate the finished product will be complete in late 2025.”
Financing for Pender Crossing is supported through federal Low Income Housing Tax Credits allocated by the North Carolina Housing Finance Agency which alsocommitted to provide a second permanent mortgage. “The NC Housing Finance Agency is proud to play a part in the development of Pender Crossing,” said Scott Farmer, executive director of the NC Housing Finance Agency. “This groundbreaking represents a hopeful future for citizens of Wilson who will have renewed access to affordable housing options they can be proud to call home.”
Truist Community Capital made an equityinvestment in the project utilizing the Low-Income Housing Tax Credit and Truist Bank provided the construction loan. “Safe and affordable housing is essential to the health and prosperity of communities,” said Steve Smith, senior vice president and relationship manager at Truist. “Our investment in the development of new, affordable housing in Wilson is one of the many ways Truist inspires and builds better lives and communities.”
A permanent mortgage will be provided by Security Bank and Trust Company. “Security Bank and Trust Company is proud to serve as the permanent financing lender for the Pender Crossing development. We greatly appreciate our partnership with Woda Cooper Companies and their dedication to providing affordable housing in North Carolina,” said Brian Kissell, Chief Executive Officer.
The Housing Authorityof the City of Wilsonsupported the development with rental assistance for 25 residents.
Architecture for Pender Crossing is being performed by TightLines Designs, with civil engineering by Mc2 Engineering, Inc. Woda Construction, Inc. is the general contractor. Leasing and property management will be performed by Woda Management & Real Estate. For more information, call
984-422-8319 or visit www.wodagroup.com.
About Woda Cooper Companies, Inc.
Woda Cooper Companies, Inc. and its affiliates specialize in the development, design, construction, and management of high-quality affordable multi-family communities, senior communities, and single-family homes. The company was founded in 1990 and now has operations in 17 states and a portfolio of 330 communities and 16,000 units operating or under construction. Green building is standard with certifications including Passive House, Zero Energy Ready Homes, LEED, Enterprise Green, EarthCraft, and ENERGY STAR. Woda Cooper Companies has offices in Savannah, GA; Indianapolis, IN; Shelbyville, KY; Queenstown, MD; Mackinaw City, MI; Columbus, OH; and Norfolk, VA. Affordable Housing Finance magazine ranked Woda Cooper Companies 8th in nation among Developers and 22nd among Owners in 2024.
