Page 24 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

HOUSING

Winston-Salem’s many housing options give citizens of all units will be set aside, for 10 years, for residents earning 80
income levels the means of nding living space that suits both percent of the area median income. After the 10-year period, 15
their budget and their lifestyle. percent of the units will be set aside for an additional 20 years.

Residents looking for heritage and tradition make their homes To promote quality of life throughout the community, the City
in such long-established neighborhoods as Buena Vista, works to revive blighted neighborhoods. The Housing
Monticello Park, Morningside Manor, Sherwood Forest, Rehabilitation Program provides nancial and technical
Town and Country, Wedgewood and the Country Club assistance to quali ed homeowners and investors wanting to
Road area. Families seeking luxury homes built for today’s repair substandard properties. Owner-occupants with low
lifestyle have a multitude of choices in such newer and moderate incomes are eligible for direct and deferred
neighborhoods as Brookberry Farm, Greenbriar Farm, Lake payment loans, and investor-owners are eligible for loans to
Park and Timberfield. repair single family houses for rental. Housing Rehabilitation
also administers the Section 3 Construction Training Program
City residents looking for historic neighborhoods can move to
Washington Park, West End, West Salem and Ardmore. In Initiative, which trains unskilled and underemployed
individuals in construction elds. The Neighborhood
the Old Salem Historic District, a number of houses dating to
the late 1700s and early 1800s have been refurbished for Redevelopment and Improvement Program works with
residents to develop plans to revitalize their neighborhoods.
modern life.
These e orts can include a combination of renovation,
With rapid growth in downtown residential construction, demolition of blighted property, and construction of new homes.
residents seeking a true urban lifestyle have a diverse range of Boston-Thurmond, a historic African-American neighborhood,
options for renting or buying. Many downtown loft apartments
and condominiums have been repurposed from old textile is being revitalized through a partnership between the City,
County, private developers, and Habitat for Humanity of
and tobacco factories, including the Gallery Lofts, luxury
apartments in the renovated former Brown & Williamson Forsyth County. In 2012, Habitat began its new Neighborhood
Revitalization program, a partnership with the City and other
factory; Plant 64, created from an old Reynolds tobacco
warehouse, and the Winston Factory Lofts, created in the organizations to renovate and repair existing homes located
among the newer houses Habitat has been building. In
renovated Brown Rogers-Dixon building. Other options
include West End Village and the Link Apartments addition, private developers have rehabilitated other single-
family homes and several two-story brick apartment buildings
Brookstown, both within walking distance of the BB&T
Ballpark. Two new downtown apartment complexes, the that have been recognized by the National Historic Register as
one of the few remaining examples of “Y” staircase architecture.
Link Apartments Innovation Quarter and West End Station,
are currently under construction and will add 573 new units to In partnership with the United Way of Forsyth County,
the market. Habitat has also begun building new homes and renovating
existing ones in the Bowen Park neighborhood. Bowen Park
As part of the 2014 bond referendum passed by voters, the
City contributed $1.25 million to the construction of the 757 is among a cluster of neighborhoods in the designated United
Way Place Matters community near Smith Reynolds Airport.
North apartment complex. In return, 25 percent of the 115

LINK APARTMENTS
INNOVATION QUARTER
is currently under
construction and will add
many new units to the
growing market.

18 2018 AN NUAL R E P O R T