Wynnefield Looking to Add Affordable Units in High Point

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. 

Signature to Build 288-Unit Community in North High Point

News broke last month that Triad Commercial Properties was rezoning a parcel in Piedmont Centre in north High Point to allow for a multifamily development. Today the news broke that the parcel will be developed by Signature Property Group. From the Triad Business Journal article:

Signature Property Group this month will submit site plans for a $20 million, 288-unit multifamily development in the Piedmont Centre business park in north High Point…

Seth Coker, president of Signature Property Group, said the project will meet demand created by the expanding work forces of New Breed Logistics, BB&T Corp., and several other growing companies.

“It’s going to be as high-end a product as we can possibly build,” Coker said. “We’ve never been more excited about an apartment site.”

The project is the first outside the Greensboro city limits for Signature and is the first apartment project in Piedmont Centre. There are apartments at the Palladium Park complex near Wendover Avenue and Eastchester Drive, but they are technically not a part of Piedmont Centre, Easter said.

Rezoning for Multifamily Development in North High Point Approved

According to this story in the Triad Business Journal, an 80 acre tract in north High Point has been approved for a rezoning by that will allow for a multifamily development on about 10 acres of the tract:

The parcel is located along the east side of Eastchester Drive south of Regency Drive, near an existing Sheetz store. Easter, a managing partner with Triad Commercial Properties, is the manager for two entities that own the land, SDL Johnson City LLC and SL Wendover LLC.

Easter declined to discuss specific plans, but confirmed that the rezoning will allow for a portion of the property to have a multifamily development.

“We are leaving 90 percent of the uses in place,” he said.

High Point City Council still needs to approve the rezoning request, which will be presented to the council on December 17.

54 Unit Senior Apartment Community Under Construction in High Point

From the Triad Business Journal:

Jamestown-based Wynnefield Properties has begun construction on Admiral Pointe, a 54-unit, 52,000-square-foot senior apartment development in High Point with a value of at least $5 million.

Admiral Pointe is one of several projects that Wynnefield Properties has planned for the Triad including Sunset Place, a 52-unit, $6.6 million apartment complex in Asheboro…

Admiral Pointe is located near the intersection of Wendover Avenue and Samet Drive and near a proposed Walmart Neighborhood Market in north High Point.

Admiral Pointe is being funded in part with about $1.2 million from the North Carolina Housing Finance Agency, which provided nearly $400,000 in federal housing credits. Those credits are sold to investors and used as equity for the project. The agency also provided an $800,000 loan for Admiral Pointe.