The Gables at Druid Hills

This three story, 63-unit development for active adults is the first new housing construction on the Statesville Avenue corridor in several decades.
The Gables

Neighborhood Overview

The project is located at the intersection of Statesville and Kohler Avenues. The Gables serves seniors over 55 years-old and earning between 35% and 50% of the area median income. Only one resident has to be over 55, so the Gables offers affordable housing for seniors raising their grandchildren, or for a elderly parent and grown child wishing to live together.

The building features both one and two bedroom units ranging from 700 to 935 square feet. Each unit has a full kitchen with range, refrigerator, disposal, dishwasher, emergency alert systems and a large pantry space. The building has a state-of-the-art security system with secured card-required entries on the first floor and a number of outdoor cameras covering the property. The building also has more than 5,900 square-feet of community space. Other amenities include garden spots for residents wanting their own garden, a full-landscaped walking path, a Gazebo, a computer room and an activities room.

The Numbers

Financing

$4.9 million project

Development Partners

  • Bank of America through Enterprise Social Investment Corporation (ESIC) - Tax Credit Equity Investor
  • Wachovia - $1.2 construction loan
  • City of Charlotte
  • The Housing Partnership

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