December 19, 2018
After five years of committed outreach and engagement, planning, and assembling financing, we are excited to announce that The Village at Washington Terrace nears completion! The Village at Washington Terrace includes 162 apartment homes for families and individuals in both garden and townhome style units. The Village also includes a community center with on-site management offices, social and gathering areas, laundry facility, business center, fitness room, and on-site resident services coordination. The area around the community center includes age-appropriate children’s play areas, community gardens, a picnic shelter and grills, and other areas for residents to enjoy the outdoors. In addition, a child care center will be leased and operated by the Methodist Home for Children.
The Village at Washington Terrace is available to households with incomes at or below 60% of the area median income, which for a family of four in Wake County, is $50,580. The rents for a one-bedroom range from $592 – $692; two bedroom from $685 – $884; and three bedroom from $788 – $908. As affordable, the rents are well below fair market rents and preserve housing affordability in East Raleigh.
As part of our Resident Care Plan, current Washington Terrace residents were given first priority to apply at The Village at Washington Terrace. Of the current 91 occupied households, 74 have applied and selected their new apartment home and will begin moving in as early as January. The remaining 17 households have elected to apply and move into Booker Park North at Washington Terrace, the seniors community under construction in phase II.
The application process for The Village at Washington Terrace opened to the public on November 1, 2018. Over 1,800 individuals, who requested additional information, were notified of the application process. Within 5 days, over 250 applications were submitted. The amount of early interest underscores the need for more affordable housing options in Raleigh and Wake County. The application process has since been closed to give Community Management Corporation (CMC), the property management team, the opportunity to process applications.
Progress continues to be made on phase II, Booker Park North at Washington Terrace, which will provide 72 apartment homes for seniors 62 and older. While applications won’t open for Booker Park North until February of 2019, there are already over 800 people on the interest list.
For more information about the application process for Booker Park North, please click here.