Lake Norman Publications

Davidson adds to affordable housing inventory



The Bailey Springs neighborhood is a frequently cited example of a successful partnership to create affordable housing options. /Lee Sullivan

DAVIDSON – The Davidson town board on Jan. 10 approved a buy-and-sell approach to enhance deed restrictions on two homes that are part of the town’s affordable housing inventory.

Approving the proposal outlined by Housing and Equity Director Eugene Bradley, the town board authorized expenditures up to $500,000 to purchase two properties – 12511 Stonebriar Ridge Drive in the Bailey Springs neighborhood and 13022 Claudel Court in the Bradford Subdivision – as part of its ongoing affordable housing program.

The purchases – $198,497 for the 1,500-square-foot Stonebriar Ridge house and $288,744 for the 1,850-square-foot Claudel Court home – and the anticipated cost for basic repairs before the properties are re-sold to qualified buyers would require no more than $500,000, according to Bradley and Town Manager Jamie Justice.

The process will allow the town to update deed restrictions to keep the properties covered by municipal affordable housing guidelines for at least  30 years. The homes will be available to buyers with incomes at or below 120 percent of the region’s Area Median Income.

The board also endorsed Park and Recreation Director Leslie Willis’ plan to use $100,000 from the town’s federal pandemic relief allotment for upgrades at Bradford Park while waiting – with ARPA funds available to supplement the work, if needed – on the status of grant applications for proposed Roosevelt Wilson Park enhancements. ARPA dollars could also be applied toward a comprehensive project at the Ada Jenkins Center, where an updated land-use plan is in the development stage.

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