Wynnefield Properties has applied for a rezoning in High Point with plans to construct a 96-unit affordable community off of Wendover Ave. From the Triad Business Journal:
The High Point Enterprise reports that High Point-based Wynnefield wants the city to rezone and annex 8.7 acres on the north side of Wendover Avenue, near Tarrant Road, for 96 apartments that it is classifying as affordable housing, meaning rents are below market rates and available to those earning less than 60 percent of the area’s median income.
Avondale Trace, as it would be named, would join Wynnefield’s other local developments, including the $10.2 million, 84-unit Kirwood Crossing, and the Addington Ridge and Admiral Pointe projects off Samet Drive. The Enterprise reports that it has another project, Hartley Ridge, under construction off Hartley Drive.
Wynnefield, led by President Craig Stone, intends to finance the project through N.C. Housing Finance Agency tax credits and acity loan, as it has with the other developments.