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Monroe council approves annexation of roughly 26 acres for workforce-housing development
Summary
The council approved Ordinance No. 12,300 to annex about 26 acres (Belhaven Estates/Buckhorn Bend) into Monroe; developer Cecilia Bell of The Vault, LLC said the project is privately funded and intended to produce workforce homeownership and neighborhood revitalization.
The City Council on May 26 approved Ordinance No. 12,300 to annex approximately 26 acres known as Belhaven Estates (formerly Buckhorn Bend) into the city.
Cecilia Bell, identified as an operating member of The Vault, LLC of Maryland, told the council the privately funded development aims to provide workforce homeownership opportunities and spur neighborhood revitalization on Monroe’s south side. "The project was intended to create homeownership opportunities for working families while encouraging neighborhood revitalization and long-term economic growth throughout Monroe," Bell said.
Councilmembers expressed support for the annexation, noting the potential to generate tax and utility revenue and promote investment in historically underserved neighborhoods. Chairman Rodney McFarland and Mr. Muhammad both voiced backing for the project; Ms. Woods thanked the developer for investing in district revitalization.
Bell said the development would be financed by lending partners and that the City of Monroe would not be responsible for construction costs. The public hearing closed with no further comments.
