RALEIGH, NC-A locally-based developer has acquired seven acres near the Forestville Crossing shopping center here where he plans to build the Brighton Point affordable housing project.
Carolina Equities LLC, led by Joseph M. McCabe of Raleigh, paid $1.9 million for property in northeast Raleigh on U.S. 401, according to Wake County records. McCabe plans to build an 80-unit apartment community consisting of four, three-story apartment buildings and a community clubhouse, according to the Triangle Business Journal.
In September, Brighton Pointe was one of 42 affordable housing projects in the state that was awarded federal tax credit grants approved by the North Carolina Housing Finance Agency and the North Carolina Federal Tax Reform Allocation Committee. See story in the Triangle Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
