Charlotte, N.C. — Cleveland-based The NRP Group has completed and opened Residences at Cedar Creek, a mixed-income community located about nine miles southwest of Charlotte. The 200-unit property mainly serves residents earning between 30 and 60 percent of area median income (AMI). A few units are reserved for renters earning up to 80 percent AMI.
Bank of America and KeyBank provided financing for the project. The City of Charlotte also invested $2.5 million in Housing Trust Fund gap financing, and the North Carolina Housing Finance Agency provided $22 million in 4 percent low-income housing tax credits.
Residences at Cedar Creek consists of three four-story buildings. Each apartment features open-concept layouts with private patios or balconies and walk-in closets. The development offers one- to four-bedroom floor plans and such amenities as a 24-hour fitness center and a conference center with a WiFi-enabled cyber café designed for remote work. Additional amenities include an onsite playground and covered picnic areas.
Residences at Cedar Creek is The NRP Group’s eighth development in Charlotte, comprising approximately 2,000 units to date.