The Southern Benedictine Society of North Carolina in partnership with Laurel Street Residential recently announced the construction and pre-leasing of Loftin at Montcross, a new 72 room mixed-income, senior living community located in the Montcross development in Belmont, North Carolina. As the Real Estate broker for Montcross, Steelwood identified the need for affordable senior housing in the Belmont market and teamed up with Laurel Street Residential, an Affordable Housing Developer and WGM Design Inc., an Architectural firm, to apply for Tax Credits through the North Carolina Housing Finance Agency. In the Fall of 2012 the project was awarded Tax Credits and the team immediately commenced Construction Documents and is currently under construction. The building is scheduled to open in the spring of 2014, and is receiving outstanding interest from potential tenants.
“We have always said that our property development initiatives were intended to benefit our local community, as well as support our College. We believe that this new development support our efforts, and in partnership with Laural Street Residential and Steelwood, we are proud to offer affordable housing for senior residents who are often left to struggle to find decent housing.”
Abbot Placid Solari, OSB
The Southern Benedictine Society of North Carolina, Inc.
For more information on the Montcross development please see www.montcrossnc.com.