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Issue 4:
ECCDI
has had a very busy summer. With the successful completion of Edenbridge, its 40 unit senior housing development in Morehead City, and the speed of its lease up process, it is further evidence that quality, affordable housing is greatly needed and welcomed in eastern North Carolina. Currently, ECCDI has two projects under construction, Emmerdale in Jacksonville and Castle Glen in Newport.
Emmerdale will be a 46 unit
design specifically for families. Located in the
Carolina
Forest area of Jacksonville, Emmerdale will offer affordable
modern living, in a one, two or three bedroom apartment,
ideally situated close to schools, shops and hospitals.
Several of the buildings are completed and completion of
the entire project is expected in the next several weeks
and before December 2007. Castle Glen in
Newport
has just completed site clearing and early work has
begun on the foundations. Castle Glen will be 32 units,
specifically built for seniors. Completion of this
project is expected in Spring, 2008.
As the demand dictates, ECCDI is in the pre-development stage for two other projects. Glenstal, a proposed 64 unit garden bedroom senior development located in Jacksonville, and Meadow’s Gate, a proposed 120 unit multi-family development also in Jacksonville.
ECCDI’s Rural Venture Program under the USDA IRP has had
a busy year. On Wednesday, April 4th, 2007, Sen. Richard
Burr visited Carteret County
along with the NC State Director of USDA Mr. John Cooper
and presided over a ribbon cutting and check presentation
for IRP loan recipients Pirate Queen Paddling. The entourage
then continued to Crystal Coast Habitat for Humanity where
another check presentation was made to Kris Durham, Executive
Director of the local office of Habitat for Humanity.
This was a wonderful day for ECCDI and
Carteret
County, with great acknowledgment
being made to these businesses and their contribution to
the local economy. ECCDI continues to loan money to businesses who may not find financing through conventional methods. ECCDI is happy to say that since its relationship begun with the USDA Intermediary Relending Program, it has made loans of over $4,659,000 to 20 businesses in eastern North Carolina.
Issue 3:
ECCDI has continued its housing development with a flourish in the past several months. Phoenix Park II, ECCDI’s 48 unit Multi Family development received its Certificate of Occupancy on October 17, 2006. By October 31st all units were occupied and as of February 2007 already has a waiting list of 22 families. Phoenix Park I remains full and also has a waiting list of 14 families. Fox Hollow, ECCDI’s 44 unit senior housing development, opened in November 2006 and currently has only one vacant unit. Edenbridge, the 40 unit senior development located in Morehead City, is near completion.. The lease up process for Edenbridge is currently underway and move ins are expected in early March, 2007.
Beginning February 12th, ECCDI will begin its much anticipated move to its new facility located at 108 Professional Drive, Beaufort. The office expects to be up and running at full speed by February 19th.
ECCDI’s Rural Venture Program under the USDA IRP continues to attract new businesses. 2 new loans have closed in the past few months. A retail adventure business expanded its locations in Carteret County and ECCDI was happy to provide funding to a fellow Non-Profit agency, a local branch of Habitat for Humanity to help purchase a permanent office and retail facility. These funds provide much needed cashflow to increase company productions and expand employee workbase which is the primary goal of the IRP program.
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