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County Invests $2M to Slash Rents | Wilmington News
New Hanover County is investing $2 million to fast-track affordable apartment construction through a bold new plan called Proximity Blue Clay, designed to slash rents by $300–$500 for a decade while guaranteeing the county gets its money back with 5% interest in ten years. This innovative approach, developed by Cape Fear Development, aims to boost housing supply, keep units occupied, and expand options for residents across income levels—with the first units ready in just 18 months. The county’s commitment is just the start: another $2 million is already pledged, signaling a serious, creative…
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