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This three-story apartment building is similar to the complex that will be built behind Walmart off U.S. 19 in Murphy.
Murphy – For the past 19 months, a handful of local officials have been working behind the scenes to establish affordable workforce housing within city limits.
Publicly, officials have talked about the choices developers face when deciding whether to build in Cherokee County, often leaving the impression that additional workforce housing would not come to fruition for another 5-10 years. However, they have quietly held onto hope that a tax credit program could jumpstart a housing renaissance.
That revival began last week, when town officials learned that a nonprofit housing developer received federal tax credits to build a 56-unit apartment complex behind Walmart off U.S. 19. The community will be called Valley River Apartments.
“Depending on when we break ground, I could see residents occupying their new homes in late fall of 2023,” said Joy Strassel, executive director of Western N.C. Housing Partnership Inc. "We already have our construction team together. We are going to be using Mills Construction Co.”
The $9.5 million project could break ground in July next year. One-, two- and three-bedroom apartments will be available to rent in the multistory complex, which will include washer and dryer hookups in each unit, as well as a community laundry room.
“There will be exterior storage units for every single apartment,” Strassel said, adding that the complex will include a computer center and a club room for communal activities.
Outside, residents will have access to a gazebo and outdoor grills. The property will also feature walking trails for fitness and nature enthusiasts.
“What we build is indistinguishable from high-end market rate housing,” Strassel said. “For the interior, we're talking solid wood cabinetry.”
One-bedroom apartments in the complex will be 851 square feet, two-bedroom units will be 1,102 square feet and three-bedroom homes will be 1,271 square feet. Multi-bedroom units will have two full bathrooms.
Single-bedroom apartment rents range between $500-$715 per month, depending on what percentage of the county median income the resident earns. Two-bedroom rents range between $600-$825, and three-bedroom rents range between $660-$950. Since there is a significant need for housing in Murphy, officials anticipate there will be a waiting list.
“The rents are based on 50, 60, and 80 percent of median income for Cherokee County,” Strassel said. “When you use tax credits to build a property, you have to guarantee the affordability of the property for 30 years. It is guaranteed that rents in this property will remain reasonable for hardworking people in Murphy and surrounding areas.”
In addition to Western N.C. Housing Partnership, Mayor Rick Ramsey credited Town Manager Chad Simons and Paul Worley, the county’s director of economic and workforce development, for helping make this project a reality. Ramsey also thanked Dogwood Health Trust for providing the developer $300,000 in gap financing to secure the property behind Walmart, which allowed Strassel to move forward with the tax credit application.
“Lack of housing is a major brick wall to our entire community. We have hundreds of open jobs that need to be filled, but we don't have the housing,” Ramsey said. “With nothing happening, it was impossible to get developers who were qualified and financed to come here.
“But now that we have this one nailed down, developers from other places will notice there’s a market here. The hardest one was the first one, and more is coming.”