CHARLOTTE, N.C. — An east Charlotte apartment complex will be renovated and preserved by the city of Charlotte.
Charlotte City Council voted Monday night to spend $2.1 million to rehabilitate the Sharon Oaks Apartments complex.
The city refers to it as a naturally occurring affordable housing complex, which is a longstanding development with affordable rents set by the market.
Councilman Matt Newton said it’s the first major city investment in a project of its kind.
The complex will have a unit mix of:
- 10 units at 30 percent area median income
- 10 units at 50 percent AMI
- 48 units at 60 percent AMI
- 20 unrestricted units
Cox Media Group
