BBQ grill.
BBQ grill.
U.S. Department of Agriculture USDA Rural Development RD Deputy Under Secretary Justin Maxson and Congressman G. K. Butterfield, NC-01, toured the grounds and a vacant unit at Hunters Ridge Apartments, a multifamily property development, in Farmville, NC, on Aug. 30, 2021. While there Deputy Under Secretary Maxson sat down with resident Shamar El-Shabazz and the site manager Hussana Shareef to listen to how much of an impact this type of housing has on this rural community. Hunter’s Ridge is a 25 unit Section 515 Direct Loan Multifamily property developed in 2003. The average annual household income of Hunters Ridge families is $10,542, ranging from $1,680 per year to $24,650 per year. The average term of tenancy at the property is 6.5 years. 24 of the units receive Rental Assistance, totaling $169,044 annually. The rental assistance allows the tenants to pay no more than 30% of their income in rent. The property is owned by Hunter’s Ridge Housing, LLC and managed by GEM Management, LLC. The Hunters Ridge is 18-years old and features six highly accessible units, far more than typical developments of this size. In addition to Hunter’s Ridge, GEM manages 193 additional RD Financed properties across the Southern United States. The property employs two full-time staff, a site manager and a maintenance employee, and generates several other local jobs through contract services. In addition, the property’s spillover benefits to the local economy include an annual tax payment of $13,779 to the town of Farmville. USDA Photo Media by Lance Cheung.
Original public domain image from Flickr