Posts filed under ‘Forsyth County’

Forsyth County Housing Still Considered Affordable

A recent RealtyTrac report finds that housing in Forsyth County is still affordable. From the Winston-Salem Journal:

RealtyTrac, a national real-estate research company, said average homeowners in Forsyth needed to put 22.9 percent of their monthly household wages toward their mortgage during the first quarter. The data is available only by county.

The affordability range was based on a wage of $883 a week for an $111,994 house with a 3 percent mortgage interest rate. Historically, the average homeowner spent 25.6 percent of household wages for the mortgage.

RealtyTrac has maintained a “buy” recommendation for the Forsyth housing market, based on a $1,059 monthly rent-to-own payment requiring nearly 30 percent of the average household income.

Here are numbers for other urban counties in the state:

For Guilford County, the RealtyTrac report determined 24.2 percent of weekly wages was required to buy a $144,500 home, the median sales price in the market.

For Mecklenburg County, the report determined 25.5 percent of weekly wages was required for a $208,000 home, the median sales price in the market.

For Mecklenburg County, the report determined 25.5 percent of weekly wages was required for a $208,000 home, the median sales price in the market.

July 6, 2016 at 7:01 pm Leave a comment

Forsyth County Approves Plans for 66-Unit Community

County commissioners in Forsyth County approved plans for a 66-unit apartment community near the Davidson County line:

Gardner Capital Development plans to build The Reserve at Hickory Commons on a 5.36-acre plot of undeveloped land at 1295 Hartman Plaza Drive, south of Fishel Road.

The plans include four two- and three-story apartment buildings and a clubhouse.

April 15, 2016 at 1:25 pm 1 comment

66-Unit Community Proposed in Southern Forsyth County

The City-County Planning Board in Forsyth County has indicated it supports a proposed 66-unit apartment community off of Peters Creek Parkway near the Davidson County line. From an article in the Winston-Salem Journal:

Image from Winston-Salem Journal

Gardner Capital Development wants to build The Reserve at Hickory Commons on 5.36 acres at 1295 Hartman Plaza Drive. The property is currently zoned for highway business-special use and has been commercially zoned since 1986. It is near A Child’s World Learning Center.

The project’s site plan shows four-, two- and three-story apartment buildings, along with a one-story clubhouse…

The planning staff has recommended approval of the project.

“It’s within the Oliver’s Crossing Activity Center and it is located along the Peters Creek Parkway Growth Corridor,” said Gary Roberts, a project planner for city-county planning and development services. “Legacy (2030 Comprehensive Plan for Winston-Salem and Forsyth County) calls for higher density residential along growth corridors and in activity centers.”

March 17, 2016 at 2:46 pm 1 comment

Winston-Salem City Council Approves Aid for Mixed Use Development

The Winston-Salem City Council approved, by a 7-1 vote, aid for a mixed use development near BB&T Ballpark that will include 250 apartments. From a story in the Winston-Salem Journal:

Brand Properties Real Estate Investment Group will build 250 luxury apartments on land to the northeast of the ballpark, along with 50,000 square feet of retail space that would include a grocery store.

The $53 million investment by Brand would create a project bringing in about $300,000 in annual tax revenue to the city, although that money and more will be needed to make the payments on a parking deck the city would build to bring in the Brand investment.

The city contribution in the form of a 510-space parking deck would be built by Brand and sold to the city for $8.3 million. The city would finance the purchase at a 4 percent interest rate over 20 years, with the city making about $610,000 in annual payments over that period.

Some council members expressed concern that the first phase of development does not include more affordable workforce housing, but Brand has stated that it will included workforce housing in the second phase of the project.

September 22, 2015 at 2:01 pm Leave a comment

PTAA and Goodwill of NWNC Maintenance Job Placement Program Pays Dividends

1508_GoodwillJobFair1For the past few years PTAA and Goodwill of NWNC have been partnering to make NAA’s CAMT designation a central part of the maintenance program that Goodwill and Forsyth Technical Community College developed as one of their job training programs. A couple of times a year PTAA and Goodwill team up to host a job fair so that PTAA members can meet graduates of the program as well as other qualified candidates identified by Goodwill.
On the morning of August 19, 2015 one such job fair was held at Goodwill and so far the results have been impressive: five maintenance technicians and one maintenance supervisor were hired by participating PTAA members. Considering that these job fairs are fairly small this kind of result is very impressive and highlights the value of having a highly targeted event that focuses on quality versus quantity.

1508_GoodwillJobFair2As most people in the local apartment industry are aware, the maintenance tech position is one of the hardest to staff given that there’s often a great deal of turnover and the candidate pool is very limited. PTAA’s partnership with Goodwill of NWNC is a critical component of our efforts to help address this issue for our members. If you would like more information, and in particular if you would like to be notified directly the next time we schedule a job fair, please contact Carrie Langley at 336-294-4428.

September 16, 2015 at 3:49 pm Leave a comment

Proposed Apartment Development Targeted at Wake Forest Students

Developer Mike Kelley is proposing to build an 88-unit student housing community he’s calling Deacon Place on 11 acres within walking distance of the Wake Forest University campus:

Plans filed with the City-County Planning Board indicate the development would include 88 total units, with 76 four-bedroom units and 12 two-bedroom units, along with a 6,000-square-foot clubhouse and 1,800-square-foot pool.

“The intent is to provide students with a housing choice that offers ample green space and amenities such as a clubhouse and pool for recreational use while offering a campus-like feeling to the property,” according to the purpose statement included with the plans.

Other potential amenities include sand volleyball courts, an outdoor putting green, cafe seating at the pool, outdoor grilling areas with fire pits and a “hammock hangout area and a study great room,” the plans indicate.

The plans will require the rezoning of three parcels and the case is scheduled to be heard at the August 13, 2015 meeting of the planning board.

August 3, 2015 at 1:04 pm Leave a comment

Planning Board Approves Bike Parking in Winston-Salem

At it’s July 9, 2015 public meeting the City-County Planning Board in Winston-Salem approved proposed bike parking regulations for almost all new developments – with the exception of single family homes – in much of the city. Representatives of PTAA have been working with Winston-Salem/Forsyth County planning staff for months on the proposed regulations, and while we still feel that in concept this should be a market-driven amenity, we have been pleased with how the staff incorporated the feedback our members provided. Here are some of the highlights:

  • The number of parking spots required is one per eight apartment units.
  • Initially the text amendment did not have a cap on the minimum number of parking spots per apartment community, but it did by building or structure. This would have created a very high minimum for the traditional garden style apartments we see in much of Forsyth County. Based on the feedback from our members they reduced the minimum to 20 total per community.
  • Initially they did not have language that would have given credit for any interior bicycle amenity, like a bike kitchen or common storage area, but they added language that will allow for those amenities to count as bike parking slots.
  • Bike parking can be used to reduce car parking requirements by up to 5%.
  • Initially the requirements were city-wide, but after getting feedback from our members and few other members of the public the planning staff removed future growth areas from the requirement. In our opinion they should have also removed suburban areas from the mix, but the position of the city planning staff is that the city is pushing to develop bike-friendly options to connect the suburbs with the downtown core, and since multifamily developments have a multi-decade lifespan it is better to have the parking built up front than to try and get it done retroactively.
  • If approved by city council the new regulations would only apply to new developments or extensive redevelopments of existing properties so it will not apply to existing apartment communities.

You can an overview of the proposed parking revisions here.
Here’s a link to the full text amendment.
Here’s a link to the presentation slide show prepared by planning staff.

The next step is for the Winston-Salem city council to review the proposal at an upcoming meeting. We’ll provide an update on how things proceed.

July 10, 2015 at 2:57 pm Leave a comment

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