Initiatives (Updated Spring/Summer 2004)
The Town of Cary has worked with non-profit organizations, developers and Wake County government to increase the availability of less costly housing in Cary, focusing on homes that people of moderate incomes can afford to buy.
- Wickham Place - The Town provided money for water and sewer lines,
drainage, street construction, sidewalks, and developer fees. All
17 units are occupied.
Location - Reedy Creek Road
Developer - Habitat for Humanity - Highland Village - This planned unit development will include town
homes and condominiums at the intersection of High House and Old Apex
roads. Phase One is 100 lower-priced apartments for senior citizens.
The Town is providing $600,000 in second mortgages for homebuyers
with moderate incomes. The development is consistent with Cary's Town
Center Area Plan.
Location - High House Road
Developer - DHIC, Inc - Weatherstone Spring - Substitute as bulleted item:
Weatherstone Spring - This development consists of 72 rental apartments for
senior citizens less than a mile from the Cary Senior Center. The Town will
provide a $500,000 loan in the 2004-2005 budget year for down payment
assistance.
Location – Northwest Maynard Road between High House Road & James Jackson
Avenue
Completion due – December 2004
- Callan Park at Waldo: The development consists of 21 townhomes. The first building was finished in February 2002. Fifteen homes have been completed.
- Hunter Street Homes: Four single-family houses have been built where two small, dilapidated apartment buildings were demolished in January 2000. Construction began in August 2001 and was finished in March 2002.
- Employee Housing Assistance Program: The purpose is to attract and
retain employees for the Town of Cary - especially those who are critically
needed during emergencies - and to enhance their connection to the
town they serve. Lessening of traffic congestion by reducing commuting
is another objective.
The program is for Town of Cary employees of moderate incomes who do not already own a home within Town limits. DHIC, a nonprofit organization in Raleigh, administers the program. Ten loans have been provided.
- The Town of Cary has co-sponsored events with Saint Michael's Catholic Church for prospective homebuyers. Participants included builders, lenders and housing finance agency representatives.
Completion due - December 2004