Greenville’s NHE takes on affordable housing in Charlotte

Listen to this article

With the groundbreaking of Ovata at Reedy Creek in Charlotte, Taylor Davis and his Greenville-based company, NHE, is undertaking development of his third affordable community in North Carolina — this one designed for seniors 55 years of age and better — to help address a soaring demand for quality affordable housing.

Davis and his firm have developed and managed dozens of affordable properties in South Carolina, according to a news release.

“Throughout the Carolinas and across America, there is a startling deficit of high-quality, affordable housing for families, senior citizens and those of lesser means,” Davis, president and CEO of NHE, said in the news release.  “Every American deserves the opportunity to live in a quality place where they can be happy, safe and host friends or family in. We want to continue to do our part with the development of Ovata at Reedy Creek.”

Construction of the 78 one- and two-bedroom apartment homes at Ovata at Reedy Creek, located at 9729 Newell Hickory Grove Road in Charlotte, are now underway with target occupancy in summer 2024.  Located off W.T. Harris Boulevard in northeastern Charlotte, the community — made possible with low-income housing tax credits and support from the Charlotte Housing Trust Fund — will be a mixed income property. It will be home to residents earning 30%, 50%, 60% or 70% of the area median income, or a range of $15,000-$50,000 annually, the release stated.

Construction on Ovata at Reedy Creek began in June with site preparations, and currently the building foundation is being prepped and will shortly move into the framing stage. Leasing will begin for interested residents next spring.

“NHE is excited to help bring Ovata at Reedy Creek to life with our partner organizations, and we thank them for their contributions and vision in helping to create this excellent addition to Charlotte’s affordable housing options,” Davis said in the release. “We continue to explore opportunities in markets across the Carolinas to add high-quality affordable housing like this and appreciate the support of Charlotte’s elected leaders and the community in making this community come to life.”

Ovata at Reedy Creek will include interior hallways and a central elevator system, along with in-home amenities including Energy Star appliances, luxury vinyl flooring, microwaves, wiring for high-speed internet, and washer and dryer hookups. Community amenities include a community room with kitchenette, library and computer lab, fitness room, onsite leasing office and laundry room.

Ovata at Reedy Creek is made possible through collaboration by a broad group of partners, including NHE Inc. and SCG Development Partners, which are building and financing the project utilizing LIHTC credits administered by the North Carolina Housing Finance Agency, the release said. Other key partners include United Bank, Stratford Capital Group, Centrant Community Capital, C. Herman Construction and the Charlotte Housing Trust Fund.

 NHE provides professional association management, apartment management, community development and service coordination to communities across the Southeast, and currently represents more than 18,000 homes, apartments and condominiums in 15 states.