Black Mountain News: Mountain Housing Opportunities plans to redevelop old Beacon site in Swannanoa


Big plans. From Joel Burgess at the Black Mountain News regarding the planned redevelopment of the old Beacon manufacturing plant:

The development is at its earliest stages, MHO Community Investments Director Cindy Weeks said, but could have anywhere from 100-300 apartments, condominiums, and single-family homes.

Some would be modest “market-rate” homes while others would be subsidized with tax credits to ensure they are affordable for workers, Weeks said.

That could mean rents of $500 – 900 and home prices of $125,000 – $175,000, Weeks said.

“You think about that area with the state facilities and the Ingles warehouse, we are estimating 3,000 – 5,000 folks out there in that income range. And there’s probably a lot of them traveling from other counties to work there, based on the studies we’ve done,” she said.

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