Villas at Forest Park now open

 

The Villas at Forest Park, a  new apartment home community for senior citizens, is completed and open for residents to move in.

The community was created by a public-private partnership between Douglas Development LLC, Halcon Development LLC, Hart Development LLC, the local non-profit Prosperity Unlimited Inc., the city of Kannapolis and the NC Housing Finance Agency.  The partners are holding a grand opening and ribbon cutting ceremony for the new community on April 7 at 11 a.m.

The 64-unit apartment home community was built for seniors 55 and older with incomes less than 60 percent of the median area income. The apartments are located at 300 S. Little Texas Road near Forest Park Elementary. 

The one-bedroom units will rent for $252, $417 or $442, and the two-bedroom units will rent for $289, $512 or $607, based on income.

The community was built with an allocation of $220,500 of Kannapolis HOME funds. Additionally, Douglas Development received $1.5 million in loans from the North Carolina Housing Finance Agency, as well as conventional financing through Churchill Mortgage Investment and Alliant Capital. The total cost of the project was approximately $7.3 million.

“This type of partnership works very well for Kannapolis because it allows us to leverage our funds with other partners to provide affordable senior housing,” said Kannapolis Director of Business and Community Affairs Irene Sacks.

According to Traci Dusenbury, representing Douglas Development and Halcon Development, “The partnership was a win-win situation for everyone. It enabled us to provide high-quality affordable housing for senior citizens who want to downsize from existing houses that may be difficult to maintain or who just need a place to live independently, yet not completely alone.”

“Prosperity is pleased that we were able to provide support for this senior housing complex as it is a much needed facility,” said Louise Mack, executive director of Prosperity Unlimited Inc., the non-profit partner based in Kannapolis. Prosperity Unlimited Inc. is a 15-year old non-profit community development corporation working in the areas of affordable housing, pre-purchase counseling for those wanting to purchase homes and delinquent/foreclosure counseling for those homeowners who needs assistance with their mortgage. 

The apartment community features a beauty salon, an exercise room with a treadmill and a Nintendo Wii System for virtual tennis matches, bowling and other games, TV rooms, a gameroom/craft room, a community room with a kitchen for resident events, a library, laundry rooms, an outdoor gazebo and picnic area, and outdoor garden plots for those who like to garden.

For leasing information at The Villas at Forest Park, please contact the Site Manager, Shelby Jenkins, at 704-935-1485.