In December, the developers asked the city to annex the 19-acre site located at 7725 Alexander Rd, near Market Street. A representative of developer HH Hunt admitted they had purchased the property with an eye toward annexation by the city. That’s partially for the city’s expectations on stormwater design, and partially for the roads, as North Carolina prohibits counties from building or maintaining roads.
But they cited benefits to the city as well: the addition of a substantial taxable property. The developer promised the completed property would be worth $40 million dollars.
It’ll also come with affordable housing units: 13 one bedrooms at about $930, or 60% of the Area Median Income (AMI), and 12 more at just under $1,200, or 80% of AMI. The affordability period is 15 years.
City Council voted 5-1 in favor of the zoning request, despite a staff recommendation against it. The planning commission did recommend approval, however. Salette Andrews was the sole holdout, and didn’t explain her opposition to the proposal, although she did read a letter from a constituent voicing concerns about traffic and overcrowding at Porters Neck Elementary School. She had voted in favor of annexing the property in December, in a unanimous vote with the rest of City Council.
