(WILMINGTON, NC (WWAY) — Live Oak Bank has announced a significant investment of $8.4 million in low-income housing tax credits to support Estrella Landing, an affordable housing project located in Wilmington.
This investment will fund the 84-unit family property situated at 4611 Gordon Road, which opened its doors this summer. “Live Oak is proud to make an investment in affordable housing in our own community,” stated William C. (BJ) Losch III, president of Live Oak Bank. “We believe that supporting affordable housing directly impacts workforce development and enhances the opportunities available to residents in our region.”
Stephanie Norris, the developer for Norco Management, which oversees Estrella Landing, expressed her enthusiasm, saying, “I am beyond excited that Estrella Landing is owned and managed by companies based in New Hanover County. In my 20 years of experience in affordable housing development, this is a rare opportunity for a partnership like this, and we hope for more collaborations in the future.” She emphasized, “Our team’s sole mission is to create safe and attractive housing that our residents are proud to call home.”
