East Carolina Community Development Inc. (ECCDI), community residents, local officials, and business leaders celebrated the ground breaking ceremony for a new $9.2 million multi-family apartment development that will offer affordable housing to low and moderate income residents in Jacksonville. The development will offer 80 units, 40 two-bedroom and 40 three-bedroom apartments, community facilities within the residential building, picnic area, onsite leasing office, onsite manager, onsite maintenance person, gazebo, and outdoor recreation facilities.
ECCDI will be using a mix of public and private funding to construct the development, which should be completed in the summer of 2010. Funding sources made possible through partnerships with Coastal Bank and Trust, Community Investment Corporation of the Carolinas (CICCAR) and the NC Housing Finance Agency (NCHFA).
Keith Walker, CEO & President of ECCDI, was quoted saying that “with the immediate increase in the military population in the Jacksonville area, our new housing development will elevate only a small portion of the much needed housing. Available housing in the area is overdue in supporting the current and future needs of offering quality, affordable housing. We continue to work with the local and federal governments to assist in furthering development to these individuals and their extended families, including seniors.”