• Charlotte developers plan to preserve affordable housing complex

    By: Gina Esposito

    Updated:

    CHARLOTTE, N.C. - Each time an apartment complex is bought, residents worry their rent will go way up or they'll be pushed out.

    [SPECIAL SECTION: Affordable housing crisis]

    However, that's the not the case with two developers who said they are buying the Heritage Park Apartments off W.T. Harris Boulevard in east Charlotte and plan to keep it affordable.

    [ALSO READ: City could provide developers incentives for building affordable housing]

    The non-profit company, Affordable Housing Institute, and an affordable housing developer, Vitus, plan to purchase the complex and pour $8.5 million in renovations into it that will completely transform the outside look and interior of each unit.

    In the video at the top of this page, Eyewitness News reporter Gina Esposito breaks down the partnership and how they plan to preserve the affordable housing complex.

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