CHARLOTTE, N.C.. – State Employees CU announced Friday it is helping finance another residential project with the North Carolina Housing Finance Agency by providing 0% financing on a $470,000 loan to build a group home which will serve as permanent housing for six persons with traumatic brain injury or developmental disabilities.
The construction loan will be repaid by permanent financing previously committed to the project, allowing the funds to be recycled and available for future housing projects. The $17 billion credit union has provided similar financing for a half-dozen other projects through the state housing agency.
Rowan Way will consist of a 3,120 square foot, six-bedroom design will be constructed on a .41 acre site in northwest Charlotte.
