New Housing Communities Receive Funding and Expand Opportunities in Greensboro

North Carolina Housing Finance Agency's 2025 Low-Income Housing Tax Credit (LIHTC) awards have helped fund two affordable housing developments in Greensboro.

The Grayson at Randleman Crossing and Overland Place Apartments will bring 132 high-quality, affordable homes to Greensboro families. Two Triad-based developers with prior LIHTC experience will develop Greensboro properties for the first time. Construction is expected to begin in 2026.

"We're excited to see these projects move forward with support from LIHTC awards and City housing bond funds," said Cynthia Blue, assistant director of housing and strategy with the City's Housing and Neighborhood Development Department. "When local companies invest in accessible housing in their own community, it's a win for everyone."

These projects provide homes for households across a broad range of incomes - from families with very limited earnings to those who make closer to the local average.

The Grayson at Randleman Crossing will be developed by Affordable North Carolina Housing Organization (ANCHOR), a Winston-Salem nonprofit. Located at 2813 Randleman Rd., the $21.7 million community will include 84 family-friendly homes supported by a $3 million loan from City housing bonds.

"At ANCHOR, we're excited to help bring more affordable homes to families and advance the City's Road to 10,000 housing initiative," said ANCHOR Deputy Director Tanya Skillman. "This is about building strong communities where families can thrive."

Overland Place Apartments will be built at 3808 Overland Heights by Overland Place LLC, led by Carlos Sanchez of CS+BO Architecture, a North Carolina Historically Underutilized Business-certified firm based in High Point. The $14.6 million development will provide 48 new homes with support from an $850,000 City housing bond loan.

"We are honored to partner with the City of Greensboro to create housing that strengthens our neighborhoods and supports families," said Sanchez. "Affordable housing is more than just construction; it provides stability, dignity, and a foundation for people to grow."

The announcement gives the City five active LIHTC-awarded projects. Construction begins this fall on three developments funded by 2024 awards, which will yield 204 units. The following projects total over $46 million estimated development value:

• Windhill Development, 201 Windhill Ct. - rehabilitation of 60 family units by Affordable Housing Management, Inc.

• Vandalia Acres, 2943 W. Vandalia Rd. - new construction of 84 family units by Affordable Housing Management, Inc.

• Yanceyville II, 3910 Yanceyville St. - new construction of 60 family units by FGM Development, LLC.

These developments will address the need for rental housing for families across a range of incomes and will advance the City's Road to 10,000 housing initiative.