Fernhill Apartments was developed to provide 72 new affordable homes to families across a range of income levels. Located in Conover, NC, the new-construction community offers one-, two-, and three-bedroom apartments ranging from 669 to 1,110 square feet. All units are affordable, serving households earning up to 60% of Area Median Household Income (AMHI).
Developed by Mosaic Development Group, Inc., Fernhill was designed as a modern community with amenities intended to support residents' daily needs. In addition to the individual apartment features, the separate community building will provide residents with access to a computer room, fitness room, laundry facilities, and other property services.
New Construction: 72 Units
Private Equity Investment: $7,630,637
During Construction:
Local Jobs Supported: 65
Projected Government Revenue: $1,223,712
Fernhill is strategically positioned to address an existing shortage of affordable rental housing in the Conover area. The project's market study found that all of the identified Low-Income Housing Tax Credit (LIHTC) comparable properties were fully occupied and maintained waiting lists. The affordability of Fernhill provides residents with a significant cost advantage compared with market-rate housing.
Fernhill will meaningfully contribute to Catawba County's housing supply and help close the gap between the need for affordable housing and the availability of quality homes. By combining community investment with long-term affordability, this development provides families with greater housing stability and gives Conover a new community designed to serve residents for years to come.
7700 Falls of Neuse Road, Suite 200
Raleigh, NC 27615
919-420-0063
This institution is an equal opportunity provider.
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