HSCD Community Update Letter
By Pastor Brian Combs
Dear Haywood Street Community and Beyond,
Since our last update, much has changed. Nearly all for the better. Last summer, following the City Council’s unanimous vote to endorse our proposal, Haywood Street Community Development closed on the West End Clingman Avenue properties and readied to break ground. Then global supply chains kinked, lending for multifamily projects retracted, construction bids inflated, and a $10 million vision for deeply affordable housing escalated to $12.5 million and rising.
With so many dramatic market swings, we literally went back to the drawing board. In the silence since our last communication, we’ve been hard at work on a redesign. Under contract on an adjacent upper lot, the development now spans three parcels. Instead of keeping the expensive concrete podium, we’ve switched to surface parking only. The top floor is gone, replaced by a far less imposing ¾ split architecture. From 46, our unit matrix is now at 41 apartments. With these amendments, we’ve reduced the vertical construction budget by over $1 million.