Housing Authority of the city of Asheville Awards Professional Services Contract to Pennrose Nc Llc (May 2026)

The Housing Authority of the City of Asheville approved a Memorandum of Understanding with Pennrose NC LLC to jointly develop the 126-unit 1116 Sweeten Creek Apartments affordable housing project. The MOU establishes roles, financing structure using 4% LIHTCs and tax-exempt bonds, voucher commitments, and ownership framework through April 30, 2027 or until final agreements are signed.

Scope & details

The full contract record, as filed.

Contract type

PROFESSIONAL_SERVICES

Contract term

May 11, 2026 through earlier of execution of Transaction Documents or April 30, 2027

Renewal date

2027-04-30

Renewal

MOU term runs until superseded by Transaction Documents or April 30, 2027; subsequent definitive agreements will control ongoing joint venture, financing, and fee arrangements.

Document type

Resolution

Source document

Asheville Housing Authority Resolutions May 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the professional services contract by Housing Authority of the city of Asheville?

Pennrose Nc Llc was awarded this professional services contract by Housing Authority of the city of Asheville, as recorded on May 11, 2026.

What type of contract is this?

This is a Professional Services contract, documented as a resolution record.

Where was this contract approved?

This contract appears in Asheville Housing Authority Resolutions May 2026 (Resolution), dated May 11, 2026 from Housing Authority of the city of Asheville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Pennrose Nc Llc hold?

Pennrose Nc Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Pennrose Nc Llc's profile

What is Housing Authority of the city of Asheville currently buying?

Explore Housing Authority of the city of Asheville's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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