Thrive Southend

Raleigh, North Carolina

Thrive South End provides affordable housing along a major transit corridor and future Bus Rapid Transit route. The building’s design complements the surrounding urban neighborhood and includes resident amenities such as a fitness center, computer lab, grilling areas, and playground. Supported by project-based vouchers, the property serves a wide range of income levels. The development was financed through a mix of gap financing, tax credit equity, and local public funding, enabling high-quality housing in a growing area.

Financed as a 4% LIHTC project with tax-exempt bonds issued by the Raleigh Housing Authority, equity from RBC Community Investments, funds from the City of Raleigh, a loan from Wake County, and debt from Bank OZK and Lument. Raleigh Housing Authority is providing an allocation of project-based vouchers to the project.

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