Back in our October 2017 FANS newsletter, we shared a story about Mountain Housing Opportunities (MHO) receiving federal tax credits and other financing for development of a 95-unit apartment complex in Swannanoa, to be known as East Haven. At that time, construction was expected to begin this summer, but unexpectedly high cost estimates pushed that date back. MHO spent the past several months working with their contractor and architect to bring costs down, as well as undertaking additional fundraising efforts. Those efforts have proved fruitful, and construction, which will take approximately 15 months, is now expected to get underway by some time this fall.
East Haven will be located on US 70, just west of Riverwood Road, near the former location of Moments Coffee Shop. The complex will offer 1, 2 and 3-bedroom units in a variety of floor plans. A landscaped interior courtyard will include a playground, picnic area and garden space. The complex will also have elevators, a community room, a computer center, laundry facilities, and a fitness room.
Rents are expected to be approximately $260 – $700 per month, depending on family size and income. East Haven will be open to residents whose annual household incomes are at, or below, 60 percent of the county’s median income. Applications are not being accepted yet; further information on how and when to apply will be made available at a later date.
For more information about MHO, visit www.mtnhousing.org.