The Village of Rosedale Apartments

Given the sites proximity to the Historic Rosedale House and the rich history of the Sugar Creek area, this 18-acre mixed-use, mixed-income development was named The Village of Rosedale Apartments at Sugar Creek.
Village at Rosedale-BW clear

Neighborhood Overview

The apartments were constructed in two phases for a total of 106 apartment units, a leasing office/community room and a playground. The 1, 2 and 3 bedrooms apartments range from 880 to 1,100 sq. ft.

 

The second phase was done in partnership with Hope Haven Inc., a substance-abuse rehabilitation center that is adjacent to Rosedale. The Housing Partnership gives priority to Hope Haven clients that have completed its program. This “next step” housing has expanded Hope Haven’s ability to provide service to new clients and give their graduating clients increased stability.

 

The remaining 12 acres of the site were sold to a local developer, who plans to build 80+ single-family homes. These homes will be affordably priced for first-time homebuyers.

The Numbers

Financing

  • Phase One (74 Units) - $5.8 million
  • Phase Two (32 Units) - $3.1 million

Development Partners

  • Wachovia - Tax Credit Equity Investor
  • City of Charlotte
  • North Carolina Housing Finance Agency (RPP)
  • Charlotte-Mecklenburg Housing Partnership, Inc.

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