Print
Real Estate - Residential

Developers Submit Plans For Kerr Avenue Workforce Housing Project

By Emma Dill, posted Apr 10, 2025
Site plans show renderings for the Avenue Flats, a proposed complex made up of workforce housing units. (Image courtesy of city of Wilmington)
Developers of the Avenue Flats, a 100% workforce housing complex proposed off South Kerr Avenue, submitted project plans to city officials this week.

The 184-unit complex would include apartments priced between 30% and 80% of the area's median income for a 30-year period. Blue Ridge Atlantic Development, the firm behind the project, aims to break ground this summer, said Sam Weldon, the company’s director of development, on Thursday.

Plans were submitted to the city of Wilmington on Wednesday and are currently under review by staff, according to the city’s online development tracker.

The project is slated for just over 6.5 acres at the intersection of South Kerr Avenue and Kimberly Way. Property records show that Brad Avenue Flats LLC purchased the five parcels that make up the proposed development site in March for a total of $4.5 million.

Site plans for the complex show three four-story buildings, including two buildings housing 48 units each and a third with 88 units. The project would also include a 3,500-square-foot clubhouse, a playground and 250 parking spaces. The project is expected to generate 832 vehicle trips per day, including 69 trips during peak morning hours and 72 trips during peak afternoon hours, according to plans.

In September, the Wilmington City Council approved a rezoning for the project and an ordinance appropriating $4 million in gap financing toward the project. New Hanover County leaders also approved $1.5 million in loans in October to help fund the development.

The project, which has a price tag of nearly $59 million, is being funded through Low-Income Housing Tax credits from the North Carolina Housing Finance Agency. Blue Ridge Atlantic was awarded those tax credits in January, Weldon said.

Rents at the complex will range from around $500 to $1,800, depending on unit size and household income, according to a city council presentation. The project is set to include 30 units at 30% AMI, 36 units at 50% AMI, 65 units at 60% AMI and 53 units at 80% AMI. ​

Weldon said Blue Ridge Atlantic is looking to break ground on the project in July or August. He added that construction is expected to take between 16 and 18 months.

Blue Ridge Atlantic Development also recently built the Residence at Canopy Pointe, an affordable senior apartment complex with 72 units off Middle Sound Loop Road, which is now open to residents.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign13 162533932

Who You Hire to Sell Your Business Might Be the Most Important Decision You Make

Tully Ryan - Murphy Business Sales
Jasonpathfinder3

Unlocking the Full Potential of Your Executive Compensation Package

Jason Wheeler - Pathfinder Wealth Consulting
Jessiepowellheadshot webversion

5 Reasons to Build Custom Franchise Software

Jessie Powell - Wide Open Tech

Trending News

Better Business Bureau Recognizes Two Wilmington Companies

Staff Reports - May 13, 2025

Davis Named CFR's Government Affairs Director

Staff Reports - May 13, 2025

Kent Homes Earns Guildmaster Award

Staff Reports - May 13, 2025

Wilmington-based Outdoor And Adventure Education Center Earns Accreditation

Staff Reports - May 13, 2025

Port's Intermodal Rail Yard Project On Track For 2026 Completion

Emma Dill - May 12, 2025

In The Current Issue

CEA Emerging Company Winner: A Patient Way To Boost Research

Synaptigen launched officially in December, taking its name from synaptogenesis, the process of forming new synapses....


CEA Nonprofit Winner: Organization Helps Health And Home

The organization formed to provide children as young as 4 and young adults as old as 21 living in the Wilmington area with custom living arr...


CEA Minority/Woman-Owned Business: Cleaning Business Buoyed By Demand

Boats have lots of unique surfaces, nooks and crannies....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season