Press Release – Buffalo Terrace – Concord, North Carolina
We are proud to announce the commencement of the construction of Buffalo Terrace in Concord, North Carolina. The 78-unit, affordable housing community was developed by Zimmerman Properties SE, LLC, an affiliate of Zimmerman Properties, and is being built by Wynnefield Contracting Services, Inc. The community will be managed by Wilhoit Properties, Inc. and will contain 12 one bedroom units, 24 two bedroom units, 24 three-bedroom units and 18 four bedroom units and contains unit set-asides for family incomes of 30%, 50%, and 60%..
The units all have modern energy-efficient appliances with microwaves, ranges, refrigerators and in-unit washers and dryers as well as ceiling fans. The clubhouse contains a fitness center and area for resident activities and the exterior has BBQ areas and playgrounds. The leasing office will open in late 2024 and details will be published online at www.wilhoitliving.com prior to the commencement of leasing activities.
The community was financed through the issuance of tax credits by the North Carolina Federal Tax Reform Allocation Committee, equity provided by Raymond James Affordable Housing Investments, Inc., construction financing by Bank of America N.A. and construction / permanent financing provided by North Carolina Housing Finance Agency.
Robert C Davidson CFO/COO
Wilhoit Properties | Zimmerman Properties | Zimmerman Properties Construction