The developers of a proposed 184-unit workforce housing complex on South Kerr Avenue are nearing the finish line to secure bond financing for the more than $58 million project.
On Tuesday, the Local Government Commission (LGC) approved up to $28 million in conduit revenue bonds for the project, as part of its consent agenda. The Wilmington City Council is set to consider a resolution authorizing the Wilmington Housing Authority to issue those bonds at its regular meeting on Tuesday evening.
“This is just the last step in the road in terms of the bond piece of the financing,” said Sam Weldon, director of development for Blue Ridge Atlantic Development, the complex’s developer…