New 60-unit affordable housing complex in development near New Bern High

New affordable housing options for local residents are under development near New Bern High School.

A new apartment complex under development near New Bern High School will provide much-needed affordable housing options for city residents.

The new 3.7 acre Palatine Meadows development, which began construction in January, will feature 60 units when completed, according to Denis Blackburne, senior vice president, Woda Cooper Companies, Inc., the developer for the project.

Blackburne said the complex will consist of 18 one-bedroom units at 676-square feet; 24 two-bedroom units at 900-square feet; and 18 three-bedroom units measuring 1,112-square feet.

The units will be income restricted to meet the following guidelines:

-15 units reserved for residents earning up to 40% area median income (AMI)

-15 units for 50% AMI

-27 units for 70% AMI

-3 units for 80% AMI

The new Palatine Meadows development on Academic Dr. in New Bern.

According to Blackburne, the projected rent range for the Palatine Meadows units is $350 (1 BR at 40% AMI) to $1,075 (3 BR at 80% AMI) per month, depending on AMI restriction and the size of the unit. 

Residents will pay for electricity, water, and sewer while the owner will pay for trash pickup.

Blackburne said all Palatine Meadows units will include central, electric heat and air conditioning; washer/dryer closets with connections; luxury vinyl tile flooring, and blinds. He said each unit will also have a 16-square foot exterior storage closet.

The kitchens will come equipped with ENERGY STAR appliances including an electric range/oven, dishwasher, refrigerator with freezer compartment, and microwave. 

Amenities at the complex will include a community building with the management/leasing office, multipurpose space, laundry facility, and fitness room. 

Palatine Meadows will also feature exterior amenities such as a playground and a covered picnic area with tables and grills.

Blackburne said the Palatine Meadows project will take approximately 13-14 months to build, with an estimated construction end date and lease-up phase to start in March or April of 2024.

According to Craven County GIS, the Palatine Meadows property, located at 4140 Academic Drive, was sold by Raines Properties, LLC to Palatine Meadows Limited partnership on Nov. 4, 2022 for $490,000. The total assessed land value is listed at $317,900.

Woda Cooper Companies also developed and owns Tate Commons on Karen Drive in New Bern, as well as seven other properties in eastern North Carolina, including Old Firetower Place in Greenville, Ravenwood Crossing in Rocky Mount, and Tooley Place in Elizabeth City.

According to its website, Woda owns and operates more than 350 properties and 16,000 housing units in the U.S.

By Todd Wetherington, co-editor. Send an email with questions or comments.