Beacon Nixes Lexington Deal Due to LIHTC Miss

From the Triad Business Journal:

Beacon Management Corp. has called off plans to build a 56-unit apartment project in Lexington, at least for now.

The project on Talbert Boulevard depended on low-income housing tax credits from the state, and Greensboro-based Beacon didn’t get them, theLexington Dispatch reported.

Patrick Theismann, vice president of Beacon, told the newspaper that his firm is considering whether to resubmit its plan in hopes of getting the credits. The project, consisting of 14 single-story buildings, was to include 28 one-bedroom and 28 two-bedroom apartments.