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Town reviews Live Well Terrace affordable housing workshop proposing 120 units via transfer of development rights
Summary
Town staff presented an accelerated workshop for Live Well Terrace, a proposed 120‑unit affordable/workforce housing project using 60 transferred development units and a 100% density bonus in partnership with Beaufort Memorial Hospital and Woda Cooper Group; staff said affordability covenants would run 30 years and the project is on an expedited schedule tied to tax‑credit timing.
Town staff presented an informational workshop on Live Well Terrace, a proposed affordable/workforce housing development that would pair a residential building program with reserved development rights and a density bonus.
Staff explained the request would transfer 60 residential development units (RDUs) from the town's development rights bank to the applicant (authorized through Beaufort Memorial Hospital and developer Woda Cooper Group), then grant a 100% density bonus under the Unified Development Ordinance to create 120 units. The site is roughly 10 acres at 335 Buckwalter Parkway; the record attached to the presentation shows Beaufort County purchased the property for $3,200,000. The proposal also includes a separate 6,000‑square‑foot medical office building tied to the overall site plan.
Staff said the town had worked with the applicant to expedite the process because of deadlines tied to low‑income housing tax credits and financing; Alice Thompson of Woda said the project must close by November to align with the tax‑credit schedule. The commission asked about income mixing and affordability levels; staff said the project would include a mix of AMI tiers (including lower AMI levels required by tax‑credit scoring) and that the affordability covenants would be in place for 30 years.
This item was a workshop and required no vote; staff said the proposal would return to planning commission and town council for readings and public hearings on an accelerated schedule, with further materials and a development agreement amendment to follow.
