Murphy – The Western North Carolina Housing Partnership and Town of Murphy will host a ground-breaking ceremony Friday morning for the new Valley River Apartments, a 56-unit local workforce housing development.
The ground-breaking will take place at 11:30 with remarks from Mayor Radford; Scott Farmer, executive director of the N.C. Housing Finance Agency; and state Sen. Kevin Corbin (R-Franklin), who will sign a ceremonial check in acknowledgement of special funding the General Assembly appropriated.
Valley River Apartments will be built at 2334 U.S. 19. From the parking lot facing Walmart, the entrance to the building site is to the right, at the far end of the parking lot, left of the Verizon store.
First announced in August 2021, Valley River Apartments will offer one-bedroom, two-bedroom and three-bedroom apartments to qualified applicants earning 40-60 percent of the area median income for the Town of Murphy. The development features large floor plans with generous closet space, solid wood cabinetry, washer/dryer hook-ups, outside storage, gazebo and picnic/grilling area, resident clubhouse, playground, computer stations and more.
Single-bedroom apartment rents range between $500-$715 per month, depending on what percentage of the town’s median income the resident earns. Two-bedroom rents range between $600-$825, while three-bedroom rents range between $660-$950. Since there is a significant need for housing in Murphy, officials anticipate that there will be a waiting list.
A $9.5 million project, Valley River Apartments was made possible by tax credits issued by the Housing Finance Agency and Workforce Housing Loan Program funding. After the General Assembly passed a bill allowing additional funding due to the significant COVID-related construction costs, the Town of Murphy applied for grant funds through the N.C. Department of Commerce, without which officials said this project would not have succeeded.
In addition, a $750,000 grant awarded to the town in December 2021 is devoted to the water and sewer system of the complex. Prospective residents are invited to apply about 120 days before completion.
Details: tinyurl.com/murphync and valleyriver@upmapartments.com.