Bingham Park

New Community in Charlotte Ensures Seniors Have Access to Affordable Housing

In the heart of Charlotte, North Carolina, is Bingham Park Apartments, a new construction community offering affordable housing to seniors earning up to 30%, 50%, and 60% of the Area Median Household Income (AMHI). The property features 43 one-bedroom units and 17 two-bedroom units that range in size, ensuring that seniors can choose the living space that suits their needs.

Mosaic Development Group, Inc. is the driving force behind Bingham Park, partnering with CAHEC to develop the community. The Charlotte-based nonprofit organization has over 55 years of experience creating and preserving housing and is well-equipped to create a welcoming and affordable community for seniors. The property manager for Bingham Park is Excel Property Management , a group with whom Mosaic has closely collaborated on numerous previous developments. This partnership ensures that residents of Bingham Park will receive exceptional support and service.

BY THE NUMBERS

New Construction Units: 60 Units
Private Equity Investment: $5,817,435

During Construction:
Local Jobs Supported: 54
Projected Government Revenue: $1,019,760

Charlotte and the surrounding areas have seen rapid population and household growth over the past few years, with senior households projected to grow even more rapidly, particularly for those aged 55 and above. These statistics indicate a strong demand for the new units at Bingham Park and a growing base of potential income- and age-appropriate renters to support them.

Bingham Park fosters a true sense of community for residents with numerous amenities, including on-site management, a community room, a computer center, a fitness center, a craft room, a library, laundry facilities, and a covered patio. When asked about their favorite thing about living at Bingham Park, one resident noted: "Lovely neighbors. There is always someone there with a sense and willingness to help. The apartment is lovely and very spacious. Maintenance is always available and there to maintain the property." Bingham Park is more than just a housing development; it's a testament to CAHEC's commitment to providing a secure, affordable, and vibrant community for everyone.

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