North Carolina
Tredway Acquires Affordable Housing Portfolio in North Carolina
Tredway, Affordable Housing Institute, Inc. and The Federation Companies preserve and extend affordability for 630 apartments, which include homes for families and seniors
NEW YORK, Nov. 20, 2023 /PRNewswire/ — Tredway, an affordable and mixed-income real estate developer that builds and preserves high-quality, high-opportunity housing, today announced the acquisition of 630 affordable apartments for families and seniors across North Carolina. Located in fast-growing markets including the Raleigh-Durham Research Triangle, Charlotte MSA and the North Carolina Coast, the 12-property portfolio is home to nearly 1,800 residents and is Tredway’s first acquisition in the state.
“We’re pleased to bring affordable housing opportunities to North Carolina while launching Tredway’s new partnership with Affordable Housing Institute and The Federation Companies,” said Will Blodgett, Founder & CEO, Tredway. “The issues North Carolinians are facing, including years-long waits for affordable apartments and the loss of units to market pressures, are emblematic of a larger crisis that touches every community across the country. Together, we can make a tangible difference by preserving and improving existing affordable properties and ensuring residents’ needs are met.”
“Affordable Housing Institute is excited for our partnership with Tredway while we look to continue providing affordable housing across North Carolina and beyond,” said Bryan Hartnett, President, Affordable Housing Institute, Inc. “As we all know, affordable housing is a major issue facing North Carolinians and families everywhere. We look forward to improving the communities we are serving and preserving their affordability for years to come.”
“As a born-and-bred North Carolinian, I’ve witnessed rapid growth as influential corporations have chosen to put down roots in our beautiful cities,” said AJ Casavant, Managing Principal, The Federation Companies. “Although this exciting boom has brought new opportunities to our state, it’s also ushered in the conversion of critical affordable housing units to market-rate. Economic progress should not come at the expense of working families or result in their displacement.”
As a result of the acquisition, Tredway, its North Carolina-based non-profit partner Affordable Housing Institute, Inc., and The Federation Companies will extend the Section 8 contracts covering all 630 units thereby preserving affordability for at least the next 20 years. The new owners will also undertake immediate work to address critically needed repairs across the portfolio, including energy efficiency and ADA needs.
The properties are located in Clayton, Elizabeth City, Enfield, Fairmont, Franklinton, Fuquay-Varina, Hamlet, Laurinburg, Mebane, Mount Airy, Statesville, and Yanceyville.
About Tredway
Founded in 2021, Tredway is a real estate development firm that acquires, revitalizes and preserves affordable, workforce and mixed-income housing. Our work is driven by the belief that safe, high-quality and accessible housing is an important catalyst for upward socioeconomic mobility and is an essential part of fostering equity in America today. Tredway combines strong relationships, industry know-how and fluency in public-private partnerships to ensure successful outcomes for all stakeholders.
Media Contact: Kelly Magee
[email protected]
SOURCE Tredway Management, LLC
North Carolina
Steve Belichick heads to North Carolina as defensive coordinator
In the 11 days since Bill Belichick officially became the head coach at North Carolina, not much information has surfaced about his coaching staff.
One big — and expected — piece fell into place today.
Via Matt Zenitz of CBS Sports, Steve Belichick will become the defensive coordinator at UNC. He has spent 2024 as the defensive coordinator at the University of Washington.
During Bill’s courtship by the Tar Heels, reports and speculation emerged regarding an effort to create a succession plan that would make Steve the next head coach after Bill leaves. The contract negotiated and published by North Carolina makes no mention of that.
Still, if things go well and if Belichick remains until he’s ready to retire, he’ll be in position to make a strong case for family continuity. Especially if Bill is poised to become, essentially, coach emeritus of the program with Steve in charge.
North Carolina
Huskies DC Steve Belichick set to join father at North Carolina, per report
In unsurprising news, CBS Sports reported that Washington defensive coordinator Steve Belichick is set to follow his father, Bill, to North Carolina. It is the second lost to UNC for the Huskies after linebacker Khmori House pledged to the Tar Heels earlier this week.
Belichick’s defense was often the highlight for the Huskies throughout the regular season. Washington had the fifth-best pass defense in the nation, allowing just 166.8 yards per outing and 13 touchdowns on the year. It was an obvious strength for the Dawgs leading into the season and was pivotal in all six wins.
Belichick spent just one season on Montlake. He joined Jedd Fisch’s highly touted NFL experience-rich staff. He’ll continue that trend, once again joining forces with a man many consider the greatest NFL head coach of all time. Bill will lead a college program for the first time in his career.
Suddenly, North Carolina is an intriguing destination that the Huskies must be wary of after already losing House. USA Today college football reporter Matt Hayes said on X that UNC would increase its NIL package for football “from 4 million to $20 million in effort to land Belichick.”
On the surface, there isn’t much to fear about UNC on the gridiron. However, the sweet selection of uniforms, a sudden surplus of NIL funds, Power 4 residency and the opportunity to play under the Belichick duo could be very attractive to NFL hopefuls.
Fisch addressed the potential of having to replace Belichick earlier this month.
“If (Steve) joins (Bill) then we’ll have to hire a new defensive coordinator,” Fisch said. “If he stays here then we won’t have to hire a new defensive coordinator. I think they’re separate. Bill Belichick is not on our staff. Steve Belichick is on our staff. So, Bill will determine whether or not he wants to continue. He’s the greatest coach of all time. So, if he goes and coaches somewhere, then he’ll make a decision, and then Steve will make a decision and we’ll figure it out from there.”
As for what’s next on Montlake, our Luke Kemper has you covered.
Click HERE to view his DC replacement scenarios.
Click HERE to view his contingency plan.
North Carolina
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