The Western North Carolina Housing Partnership and the Town of Murphy will host a groundbreaking ceremony on Friday, December 1, 2023 for the new Valley River Apartments, a 56-unit workforce housing development. The groundbreaking will take place at 11:30 with remarks from Mayor Radford of Murphy, Scott Farmer, Executive Director at the North Carolina Housing Finance Agency (NCHFA), and North Carolina Senator Corbin, who will sign a ceremonial check in acknowledgement of special funding that the state house and senate appropriated. The event is expected to last approximately 30 minutes.
WHAT: Groundbreaking Event for Valley River Apartments
WHO: State Senator Kevin Corbin, NC Housing Finance Agency officials, Mayor Radford, Dogwood Health Trust associates and others that were partners on this project
WHEN: Friday, December 1 at 11:30 a.m.
WHERE: Valley River Apartments site, 2334 U.S. Highway 19, Murphy, NC. From the Walmart parking lot, facing Walmart, the entrance to the building site is to your right, at the far end of the parking lot, to the left of the Verizon Store.
Valley River Apartments will offer one-bedroom, two-bedroom and three-bedroom apartments to qualified applicants earning 40/50/60% of the area median income for the Town of Murphy. The development features large floor plans with generous closet space, solid wood cabinetry, washer/dryer hook-ups, outside storage, gazebo and picnic / grilling area, resident clubhouse, playground, computer stations and more. Prospective residents are invited to apply approximately 120 days before completion and may access further information at https://tinyurl.com/murphync or at valleyriver [at] upmapartments.com.
Funding And Partnerships
Valley River was made possible by tax credits issued by the NC Housing Finance Agency and the Workforce Housing Loan Program (WHLP) funding. The NC House and Senate passed a bill allowing additional WHLP funding due to the significant Covid related construction costs. This additional funding allowed tax credit developers throughout the state to pursue developments that were awarded during the COVID years as construction costs soared far beyond any expectations. The Town of Murphy applied for CDBG grant funds through the Department of Commerce, without which, this project would not have succeeded.
Partners and champions for this project include The Dogwood Health Trust, North Carolina Department of Commerce, Rural Economic Development Division, Community Development Block Grant- Program, Chad Simons, Town of Murphy Manager, Mayor Radford and former Mayor Rick Ramsey, Churchill Stateside Group CAHEC (syndicator), Mills Construction Company and others.
About the Western North Carolina Housing Partnership
The Western North Carolina Housing Partnership is a non-profit organization dedicated to increasing the supply of affordable housing in Western North Carolina. The organization works with local governments, developers, and non-profit organizations to create and preserve affordable housing for low- and moderate-income families and individuals. To learn more, please visit www.wnchousing.org.
About the North Carolina Housing Finance Agency
The North Carolina Housing Finance Agency (NCHFA) is a public agency that finances affordable housing in North Carolina. NCHFA provides loans and grants to developers and non-profit organizations to build and maintain affordable housing units. The agency also administers the state’s low-income housing tax credit program and provides rental assistance to low-income families. To learn more, please visit www.nchfa.com
About Dogwood Health Trust
Dogwood Health Trust is a private foundation based in Asheville, North Carolina with the sole purpose of dramatically improving the health and wellbeing of all people and communities of 18 counties and the Qualla Boundary in Western North Carolina. Dogwood Health Trust focuses on innovative and equitable ways to address the many factors that contribute to overall health and wellbeing. With a focus on housing, education, economic opportunity and health and wellness, Dogwood Health Trust works to create a Western North Carolina where every generation can live, learn, earn and thrive, with dignity and opportunity for all, no exceptions. To learn more, please visit www.dht.org.