The Carrboro Board of Aldermen approved Tuesday night a development that will bring residential housing and commercial space to the heart of downtown.
The board unanimously approved the conditional use permit for the Shelton Station mixed-use development — which will allow developers to begin construction on the project at 402 N. Greensboro St.
The development— which will contain a four-story multi-family residential building and a two-story commercial building — will cost roughly $15 million. Of the development’s 94 dwellings, 20 percent will now be designated as affordable housing in response to concerns that the project would attract students — and higher rents — to the area.
SHELTON STATION IN THE WORKS
The $15 million project will begin construction after the approval of its conditional use permit Tuesday:
- June 2011: Aldermen heard plans to consider altering the land use ordinance. for Shelton Station
- September 2011: Aldermen voted to continue planning for Shelton Station.
- January 2012: Aldermen approved the rezoning request for Shelton Station.
Aldermen voiced concerns that students might cause property values in the development to rise — hurting efforts to maintain affordable housing in Carrboro.
Prior to the approval of the permit, the town’s zoning development specialist, Jeff Kleaveland, said the town will require that affordable housing units only go to low-income families.