Mayor David Combs Celebrates the Grand Opening of Rollinwood Manor
64 New Affordable Homes for Seniors in Rocky Mount, North Carolina
WHO: United Property Management, LLC; Morning Star Church of Christ; and Enterprise Community Investment, Inc. (Enterprise)
WHAT: Grand Opening, Ribbon Cutting and Tours of Rollinwood Manor
WHEN: Friday, April 25, 2008, at 1 p.m.
WHERE: 144 Rollinwood Manor, Rocky Mount, NC 27801,
at the intersection of S. Glendale Drive and Rollinwood Drive
GUEST SPEAKERS:
- David W. Combs, Mayor, Rocky Mount, NC
- Representative Joe. P. Tolson, North Carolina House of Representatives
- A. Robert Kucab, Executive Director, North Carolina Housing Finance Agency
- Fred G. Mills, United Property Management
- Bishop R.T. McCarter, Morning Star Church of Christ
- Stephen Smith, Director, Enterprise Community Investment, Inc.
BACKGROUND: Rollinwood Manor is a newly constructed community of 64 affordable apartments for seniors age 55 and older who earn 60 percent or less of area median income. Located in Edgecombe County, Rollinwood Manor features a three-story building with an elevator, energy-efficient one- and two-bedroom apartments, a secure keypad entry system, a resident computer center, library and an entertainment room. In addition, some apartment units are accessible to individuals with disabilities. The $5.8 million Rollinwood Manor development is financed with a $5.2 million low-income housing tax credit equity investment from Enterprise, a $2.3 million construction loan from Mountain 1st Bank & Trust and funding from the North Carolina Housing Finance Agency.
United Property Management, LLC has been managing tax credit properties since 1999. Fred G. Mills formed United Equities in 1990 with his longtime friend and business associate, Stuart H. LeGrand, both from Shelby, North Carolina, to further pursue his interests in affordable housing. United Equities began developing affordable multifamily developments, utilizing the Section 42 Low Income Housing Tax Credit Program. In 1999, United Equities created a management company, United Property Management, LLC with the understanding that ownership of tax credit properties establishes a personal interest to effectively manage tax credit properties. United Property Management now successfully manages 20 properties across the state of North Carolina.
Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits, short and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. Enterprise has privately raised over $9 billion to finance more than 240,000 affordable rental and for-sale homes, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
### |
|
Resources & More Information |
| News Archive |
Media Contacts
Terri Bolling
Enterprise
410.772.2449
Email Terri
Shelly Robinson
United Property Management, LLC
919.755.9155 |
|
|
