Anson Record (August 22, 2014). By Abby Cavenaugh.

Abbington Grove of Wadesboro, a planned multi-family apartment complex, was one of the recipients of federal tax credits from the North Carolina Housing Finance Agency. The agency announced Aug. 19 the award of federal tax credits and other financing to build $423 million of affordable apartments in 37 counties. The work is expected to support 8,540 jobs statewide and generate more than $13.4 million in local tax revenue, according to a press release from the Housing Finance Agency.

Rezoning for the Abbington Grove apartments was approved in April, Wadesboro Town Manager Alex Sewell said. The apartments will be rented out based on income, he added.

“Specifically, it will be income restricted for families earning up to 60 percent of area median income (adjusted by family size),” explained Stephen Brock, founder of Brock Ventures, Inc., one of the developers on the project. “The units will not be rent subsidized and it is not Section 8. Tenants will pay significant rent and utilities but at a level that is affordable at their income levels.”

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