Oppidan Investment Company recently opened two new affordable housing communities in Raleigh, N.C.: The Pines at Peach and Birch & Branch. These communities are each designed to serve residents across a range of income levels.
Located at 3470 Overstory Circle, Birch & Branch is a $49 million development featuring 180 one-, two- and three-bedroom apartments for families earning between 30 percent and 70 percent of the area median income (AMI).
Birch & Branch was constructed by Mills Construction.
Located at 3000 Stone Grove Road in South Raleigh, this $34 million development includes 119 one-, two- and three-bedroom apartments reserved for low-income renters at 30% and 60% of AMI.
For both projects, financing included Low Income Housing Tax Credits (LIHTCs) allocated by the North Carolina Housing Finance Agency and Tax Exempt Bonds from the Raleigh Housing Authority.
