WILMINGTON, N.C. (WECT) – Estrella Landing, an affordable housing development in Wilmington, has received support from Live Oak Bank in the form of an $8.4 million low-income housing tax credit, according to an announcement from the bank.
“Live Oak’s investment provides funding for the 84-unit family property at 4611 Gordon Road, which opened this summer. Terroir Development, LLC, is developing the project and the property includes three residential buildings with one- to three-bedroom apartment units restricted to 30% and 60% of Area Median Income (AMI). Norco Management Holding, Inc., is the property management firm overseeing leasing and operations,” the announcement states.
- Contacting the site manager at 910-833-5403 or [email protected]
- Contacting the Norco Central Office at 910-791-3354
- Visiting the Estrella Landing Clubhouse at 4611 Gordon Road
Sister properties Bennett Village and Lockwood Village are also at maximum capacity at this time. A new, 56-unit development for seniors ages 55 and older is currently under construction. Named Sterling Reserve, those interested in joining the list are asked to contact Norco. The company will start contacting those on the list when construction nears completion, currently planned for Fall 2025.
William Losch III, president of Live Oak Bank…