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Planning board recommends rezoning for 60‑unit affordable senior housing at Chapel Hill Road
Summary
The Planning and Zoning Board recommended approval of a conditional town center commercial rezoning to allow a 60‑unit age‑restricted affordable rental community at 102 & 12 Chapel Hill Road; staff recommended approval and the developer said similar projects in the region lease quickly.
Town planner Josh Michael presented a rezoning application at the board meeting requesting a conditional town center commercial designation for 102 & 12 Chapel Hill Road to enable a 60‑unit affordable senior rental development.
Josh Michael said the applicant, MK Property Holding LLC, proposes a 60‑unit multifamily community using Low‑Income Housing Tax Credit financing with all units reserved for households earning at or below 60% of area median income and age‑restricted to 55 and older for a 50‑year affordability period. "All units will be reserved for households earning at or below 60% AMI and will be age restricted to individuals…
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