On Thursday, December 11th, MHO secured financing for Balsam Edge, an 84-unit affordable housing community located on a new 5-acre site at Howell Mill Road in Waynesville, North Carolina. This marks a significant milestone for the development, which is MHO’s first rental investment in Haywood County. This highly walkable, amenity-rich location will feature 1, 2, and 3-bedroom units and will serve renters who earn from 40% to 60% AMI. Balsam Edge received funding through a 9% Low-Income Housing Tax Credit Award (2022), $7 million from the Self-Help WNC Affordable Housing Loan Fund, disaster relief funds from NeighborWorks America, and a $3.5 million CDBG-DR grant from the NC Office of Recovery and Resiliency (NCORR), secured as part of the Tropical Storm Fred disaster relief efforts, to expand affordable housing in Haywood County. |