NEW HANOVER COUNTY — An affordable senior living development will break ground this week, adding to the needed housing stock in the community.
READ MORE: NHC Commissioners to consider doling out $3M in loans for affordable housing
New Beginning Christian Church, in collaboration with East Carolina Community Development will break ground Thursday at noon on construction for 68 units for residents 55 and older.
The 10-acre complex is planned for 3120 Alex Trask Drive in Castle Hayne, a property bought by the church in 2013. Eligible tenants must meet the age requirements and earn no more than 60% of the average median income. Seventeen units will be available for tenants making 30% median income and 11 will be affordable to those earning 50% AMI.
One-, two-, and three-bedroom units will be available, starting in late 2024.
The project is being funded by East Carolina Community Development, through a $1.5 million loan from New Hanover County. Commissioners approved the 20-year term and 2% interest rate associated in October.
The loan will only coverage a portion of the nearly $15 million build.
The project, dubbed The Covenant, is primarily sponsored by New Beginnings Christian Church though residents do not have to be church members to be considered.
The church started in 1993 and is led by Pastor Robert Campbell whose mission is to serve “outside the four walls of the church and into the community,” according to a press release. Campbell works with and provides financial support to several local nonprofits, advocates for improved schools, helps reduce the number of youth incarcerated and serves the under-privileged.
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