Stratford Capital Group Announces Closing of Weston Landings Apartments

Stratford Capital Group is pleased to announce the closing of Weston Landings Apartments, a new affordable housing development located in Whiteville, North Carolina.

Project Overview

• Deal Name & Location: Weston Landings Apartments – Whiteville, NC

• Units/Tenancy: 64 units designed for family tenancy

• Development Type: New construction

• Developer: Fitch Irick Corporation

• Investor Execution: Fund 47

• Development Budget: $16,561,700

• Gross Federal Housing Tax Credits: $12,482,720

• Net Federal TC Equity: $10,611,000 (9% – $0.85)

Community Impact

Weston Landings Apartments will bring 64 newly constructed units of affordable housing to families in the Whiteville community. The property will include:

• 10 one-bedroom units

• 38 two-bedroom units

• 16 three-bedroom units

• A community building designed to serve residents

All units will be income-restricted to households earning 60% or less of Area Median Income (AMI), with 26 units reserved for households earning 50% or less of AMI. This commitment ensures long-term affordability for families in need of quality housing.

About Whiteville, NC

Whiteville, the county seat of Columbus County, has a rich history dating back to its founding in 1832 by James B. White. Conveniently located along US 74 and US 76, the town serves as a hub between coastal and inland regions of North Carolina. Whiteville is perhaps best known for hosting the North Carolina Pecan Harvest Festival, an annual celebration featuring live music, craft and food vendors, children’s activities, and a car show that highlights the area’s agricultural heritage.

A Strong Partnership

Weston Landings represents Stratford’s fourth transaction with Fitch Irick Corporation, a valued development partner with two additional projects already on the horizon. Stratford Capital is proud to continue supporting Fitch Irick’s efforts to expand affordable housing opportunities across the Southeast.

Looking Ahead

The closing of Weston Landings Apartments underscores Stratford Capital Group’s ongoing commitment to delivering high-quality affordable housing communities nationwide. By investing in developments like Weston Landings, we remain focused on creating opportunities for families and strengthening local communities.