AFFORDABLE HOUSING INITIATIVE CELEBRATES NEW HOMES IN HICKORY, N.C.

-Public-Private Partnership with JRN Development Makes Homeownership Dream a Reality for Hickory Families

HICKORY, N.C., Sept. 21, 2022 /PRNewswire/ -- Hickory families will become the City's newest homeowners thanks to a public-private partnership with the City of Hickory and JRN Development, LLC. Today the City, JRN Development, and future homebuyers celebrated the completion of the homes at Ridgefield Place in the Ridgeview community with a ribbon cutting and tour of the properties.

"While we are proud that Hickory has been named one of the nation's most affordable places to live, we know that housing is still a challenge for many working families in our community," explained Hickory Mayor Hank Guess. "With the completion of these affordable homes, the City's affordable housing initiative continues to demonstrate Hickory's commitment to our citizens' ability to live in the community where they work and play. We look forward to building on this project's success to provide creative housing solutions in the future."

The City of Hickory partnered with JRN Development on Ridgefield Place because of its ability to build multiple homes at once and build them faster than most traditional construction. JRN constructed the homes using state-of-the-art building technology to ensure quality and accelerate the building process.

The homes are being sold for $155,000 to $168,000 to eligible families earning up to 80 percent of the area median income, and will remain affordable for 15 years, even if the homeowner chooses to sell the home during that time.

"Partnering with municipalities, local governments and their housing authority and community development partners allows us to fast-track the availability of affordable housing to own or rent. These critical partnerships and our high-tech construction process allow us to build quality, sustainable housing for working families," said JRN Development CEO Rick Admani Abulhaj. "It is gratifying to be part of the solution for families striving to own a high-quality home of their own that they can enjoy for many years to come."

The homes are constructed using pre-engineered floor, wall, and roof systems, fabricated from steel by Charlotte-based OFFSITEK. Steel is stronger than wood, is not subject to damage from termites and mold, plus it can withstand high winds and survive fires, floods, and hurricanes with minimal damage.

Ridgefield Place is a project between JRN and the City of Hickory. JRN specializes in affordable housing and multifamily construction. It is currently contracted to embark on a similar project with the City of Statesville, as well as low-income housing construction in several markets in the Midwest and Southern U.S. JRN is also in talks with the City of Hickory and other municipalities to create additional high-quality, low-maintenance homes for low-to-moderate income families in North Carolina.

Founded in 2013, JRN Development, LLC is a locally owned and managed company in the Charlotte region that specializes in land acquisition and development throughout the Southeastern United States. JRN undertakes complete community development projects from land development, to construction, to sales of homes to buyers.

OFFSITEK, LLC, provides architectural design, 3-D modeling, and both structural and mechanical engineering services and is the first of its kind to fully integrate the digital process of automated and robotic manufacturing of prefabrication light gauge structural steel, which is built at the company's headquarters in Charlotte, N.C.

For more information, visit jrndevt.com or offsitek.com.

SOURCE JRN Development