New Bern could get 128 new units and lots added to its housing stock, including affordable housing.
The New Bern City Development Services Department is due to review and approve two new residential developments on August 5.
The first is Highlands Village Apartments, which will be behind Camden Square Apartments on Trent Road between Lowes Boulevard and Camden Square Drive. Camden Square Apartments, 76 units, was developed several years ago.
Highlands Village and Camden Square Apartments both participate in the Low Income Housing Tax Credit program. The program allows landlords to operate the development below normal market rates and tenants are responsible for their own payments.
The apartments will be developed on two lots, 5.25 acres and 2.56 acres, and will add 60 affordable housing units to New Bern. The square footage ranges from 742 to 1,177.
Rent, based on the median income for the area, is subject to change once construction is complete.
Currently, if a person earns 40 percent or less of the region’s median income, their rent for a bedroom in Highlands would be around $ 420 per month. For a three-bedroom apartment, if you earn 80% of the area’s median income or less, the rent is around $ 925 per month.
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Stephanie Norris, owner member of Highlands Village Apartments LLC, said they hope to close the property within the next 60 days and begin construction by the end of the year.
Due to COVID-19 and the costs of labor and materials, their progress has been delayed, Norris said.
“Now that we are working on the plans, we are able to get estimates from the contractors for the various site and building components and those numbers are higher than expected,” Norris said. “So that really slowed down the closing process…”
Approximately three to four months before construction is completed, Norco Property Management will begin announcing the development and accepting applications from potential residents.
The development will also include a playground, picnic area and computer center.
New homes in Derby Park and Carolina Colors
The proposed phase seven of the Derby Park development would add 68 lots across from the Elizabeth Downs neighborhood.
Development approval has been delayed because existing landowners in the area have expressed concern about the loss of vegetation behind their properties. The new plan includes a 20 foot wooded buffer around the 37.98 acre site.
Individual single family lots range from 0.16 acres to approximately 0.39 acres.
Derby Park is developed by Crayton & Company, established in New Bern in 1950. Homes in the neighborhood typically range from $ 84,000 to $ 200,000.
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Phase 3 of the Carolina Colors Bayberry Park subdivision was also approved on July 6.
This new phase will include 51 lots on 21.41 acres off Bayberry Park Drive and Cinnamon Run Drive.
The existing homes in Bayberry Park are mostly in the $ 200,000 range and are on smaller lots compared to the larger community of Carolina Colors.
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