Gateway seeks affordable housing build

DUANE CROSS
MCO Publisher • Editor

On Tuesday, Troy Woodis of Gateway Companies requested approval from Moore County Planning and Zoning for a zoning letter to support a proposed townhouse development on the former Fanning property next to the Moore County Co-Op on Highway 50.

Based in Florence, Ala., the company focuses on affordable housing developments in seven states and is seeking federal tax credits from the Tennessee Housing Development Agency (THDA).

During his remarks to the board, Woodis clarified the nature of Gateway’s housing developments and addressed potential misconceptions. “These developments are not project-based housing with vouchers,” he emphasized. “This is true affordable housing. We receive federal tax credits, which we use to buy down our loan, allowing us to offer affordable rents without any ongoing subsidy.”

Gateway proposes a 44-unit apartment development in Moore County, aligning with local zoning regulations.

Some may wonder, “Why Lynchburg?” Woodis explained that Gateway conducts “market studies, and Tennessee Housing has a scoring matrix that directs you to the counties with the highest scores” for the needed affordable housing.

“All of our developments,” he added, “we want our 10-year development to look like a brand new development. Maintenance and aesthetics are very important to us. The requirements the state has in these programs – brick or Hardie board painted – they can't be an all-vinyl unit. We try, architecturally, to keep them aesthetically nice.”

Woodis provided board members with images of similar developments Gateway has completed and emphasized the company's extensive experience in managing affordable housing. “We own about 8,000 units and manage approximately 17,000, including properties for other developers who trust us due to our track record,” he noted.

Gateway requested that the county issue a zoning confirmation letter, which is a requirement for the THDA tax credit application. The company initially proposed language certifying the zoning for 44 units, but Woodis offered a revised version specifying “up to 44 units,” pending full approvals from the county.

“We don’t need the signature tonight, but we do need it fairly soon,” Woodis said, noting that applications are due by April 15. “We’re fine with language adjustments as long as it confirms the zoning status for our development.”

The board members expressed the need for legal consultation before signing any documentation. “Signing any letter legally – I’m not going to say that I’m OK to sign anything without discussing with our county attorney,” chairman Dexter Golden said.

Woodis assured the board that Gateway is committed to following all required approval processes, including site planning, stormwater permits, and architectural reviews. He also noted that soil testing would soon begin at the proposed site to assess its suitability for construction.

In response to questions about long-term ownership, Woodis clarified that Gateway does not sell its affordable housing developments. “We hold onto these properties for at least 20 years, sometimes 30,” he explained. “We reinvest in them by applying for additional tax credits for renovations and upkeep over time.”

Board members concluded the meeting by agreeing to consult with county attorney Bill Rieder before making any commitments. Gateway representatives expect to receive an update on the letter in the coming weeks as the deadline for THDA applications approaches.

As the process moves forward, Moore County residents can expect further discussions on the proposed development. Gateway will continue to work closely with local officials to ensure compliance with all regulations and community needs.