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Construction Complete on 12 New “Turn-Key” Homes in Swannanoa

Sep 25, 2023 | News

 

We are excited to announce that  MHO’s Homeownership team completed the construction of a 12-townhome development located in the Cherry Blossom Cove neighborhood in Swannanoa. These homes are helping to meet the demand for homeownership opportunities for low-to-moderate income earners who call our region home. 

Eight of the townhomes were developed for individuals and families who are earning 80% or less of the area median income (AMI). The remaining four townhomes were developed for sale at market rate, providing options for more affordable “starter” homes at a time when we are experiencing record increases in home sales prices across western NC. Many of the homebuyers were able to take advantage of MHO’s Downpayment Assistance Program in order to purchase the newly constructed townhomes. 

“One of my favorite things about this project is that we built additional homes in an established community, being careful to respect the building designs already present,” said Joe Quinlan, MHO’s Homeownership Program Manager. “It’s an asset to add additional homes where a good deal of the community building is already in place. The new townhomes – and the families that live there – are integrated into the neighborhood.” 

What’s more, townhomes are a great example of “Missing Middle Housing,” a term that refers to the lack of diversity in housing options among the two dominant housing development types: single-family detached homes and large, multifamily rental communities. With the townhomes at Cherry Blossom Cove complete, MHO’s Homeownership team is now focused on starting construction on our largest homeownership development to date, Pentland Hills. Check out MHO’s most recent Pipeline Update to learn more about our work to bring more affordable housing to the region. 

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