Senior-Living Affordable Housing Result of P3

By Nolan Miles
P3 Kentucky Staff Writer

Flood damage to a home can be devastating, especially for affordable housing tenants. Officials of New Bern, N.C., realized in 2011 that their affordable-housing units were built in a flood, launching a campaign to find a solution through a public-private partnerships.

Fast-forward to 2017 and the campaign is coming fruition as the city celebrated the groundbreaking of an 80-unit senior-living affordable-housing complex. A $6.6 million partnerships between the city, Laurel Street Residential and Quadrant Construction will occur in two phases, with plans to open the facility by the end of 2018.

Initially, the city entered into a P3 with Brody Management in 2011 to study the flood plan and develop alternative solutions to the problem.

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