Charlotte leaders gathered today to mark the groundbreaking at a former motel site that’s now being transformed into townhomes in one of the city’s Corridors of Opportunity.
City representatives grabbed shovels with affordable housing advocates and developers near I-85 and the Sugar Creek area to break ground at the former Economy Inn site. Developers plan to build 39 townhomes in the low-income area. City council member Danté Anderson, who represents District 1, said some of the homes will be dedicated to teachers.
“They need support. We want our teachers to live proximate to the communities that they actually work in. To be able to dedicate four of these town homes for sale for teachers, who will more than likely teach in this neighborhood or close to this neighborhood, is amazing and it's incredibly helpful for our teachers for retention purposes for CMS,” Anderson said.
The motel site was once a last resort for residents in the area who were trying to stay off the street. In 2023, the city purchased the motel property for around $4.2 million. Now, developers Prosperity Alliance and construction partner True Home plan to bring three-bedroom homes to the area. Those behind the estimated $6 million to $7 million project say homes will be sold starting next year, priced from about $190,000 to $230,000.
Eligible buyers can receive up to $80,000 in down payment assistance through the House Charlotte Plus program.
Last month, the median sale price for houses in Charlotte was about $425,000, according to Canopy, the Charlotte region's Realtor association. Construction on the Hoover Townes homes is already underway, with plans to open the property in 2026.
