Project Summary - Pierson PointeRFP – WORKFORCE HOUSING SERVICES PROGRAM
PROJECT SUMMARY
This project is a Workforce Housing development called Pierson Pointe located at 6221, 6223, and 6229 Carolina Beach Road in Wilmington, NC 28409. The site consists of 6.2 acres of undeveloped land in New Hanover County (not in city limits) but currently holds one single family residence that will be removed prior to construction.
The total project cost is estimated at $11,655,400. Pierson Pointe will consist of 48 townhome units containing 3 bedrooms, 2.5 baths, and approximately 1500 heated square feet with a 1-car garage. These units will be priced below $250,000 and will be for sale to Workforce Housing individuals and/or families that meet the 80% to 120% of AMI, our community’s Workforce. These are people such as Firefighters, Law Enforcement Officers, First Responders, Teachers, Hospital and Medical Workers, etc. who serve our community but cannot afford to live in it due to rising housing costs. Construction will be done by American Homesmith Builders and will be of high quality materials and labor. Down Payment assistance may be available through the NCHFA (North Carolina Housing Finance Agency) and NC Realtor’s Housing Foundation for qualified buyers. The properties will hold a deed restriction that requires the owner to live in the property, so no rentals (short or long term) are allowed for a minimum of 15 years, very possibly longer. We currently have 20 applicants on a waiting list without any marketing at all, so the need is very obvious.