Thursday, June 13, 2024

Podcast June 8 – Rent hikes, questions for developers, mass transit trouble

We start this week with the Market North Apartments, a federally-subsidized low-income housing development in Wilmington. In the wake of Hurricane Florence, over 700 tenants were displaced and months have passed with no visible sign of repairs.

Then, in April the owners of the property sent a letter out to displaced tenants, notifying them that they would request that the Department of Housing and Urban Development sign off on new rents — at rates that are double what they are now. The reason? “Debt due to sale of property.”

So, what’s going on here? And what does it mean for the region’s housing crisis? We get into it.

Next, we turn from old apartments to new ones — and a (rare) chance to talk one-on-one with a developer. We got a chance to ask many of the questions we often see in our comments sections, including “do we need more luxury apartments?” Plus, we got some interesting perspective on residential development versus high-rise apartments.

Finally, a look at the troubled Cape Fear Public Transit Authority — better known as WAVE. The public transit system has seen dwindling ridership and budget deficits. Many public officials acknowledge WAVE has to make serious changes if it’s going to survive.

In the short term, WAVE is asking the county to impose a $7 tax on vehicle registrations to help them right their financial ship —  although at least one New Hanover County commissioner said that WAVE should be dissolved, not subsidized, and Wilmington should take over public transit.

And, before we leave, we check in with Carolina Beach and their latest attempt to help recruit and retain new police officers and other town employees.

If you missed any of these stories, you can catch up below. Then take a deeper dive with our weekly podcast.

Wilmington’s Market North asks HUD to double rents, cites debt due to ‘sale of property’

Developer offers perspective on traffic, density, and need for College Road development

Will New Hanover County bail out WAVE or hand it over to Wilmington?

Carolina Beach considers increasing taxes and fees, cutting non-profit funding

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