The Bungalows consists of thirty-two units of rental housing on Park and Jetton Streets; these apartments were built to meet Davidson’s need for housing for people who earn up to 50% of the area median income. Construction was finished in November of 2000. The design for this project came from a thorough, community design charrette, creating a plan that reflects the traditional character of housing in Davidson. The nine buildings are bungalow style, a historically dominant housing type in town.
DHC entered the affordable rental arena in response to the April 1999 sunset date for federal subsidies at Lakeside apartments (Davidson’s only subsidized housing) and a market study that documented a need for 88 affordable units in town. Partnering with the Affordable Housing Group of Charlotte, DHC secured nearly two million dollars in Low Income Housing Tax Credits through the North Carolina Housing Finance Agency. DHC was the only group funded in this highly competitive process that did not have a paid staff person when awards were announced.
Other partners in the development include Sterling Financial Corporation, First Charter National Bank, Burgess Design, Environmental Design, the Federal Home Loan Bank, Crosland Construction, the Rowan, Iredell, and Cabarrus County HOME Consortium, and Community Management Company. The development of The Bungalows has been recognized with the Maxwell Award of Excellence by the Fannie-Mae Foundation, the Best Small City Development Award by the NC Housing Finance Agency, and the Partnership Award by the Federal Home Loan Bank of Atlanta.
**Davidson Housing Coalition owns The Bungalows but does not manage them. For more information about The Bungalows or to apply for one of their units, check out their website or contact their main office at (704) 895-5600 (M 8-4, W 8-4, F 8-12).**