Starting at $400? New apartments could bring lower rents to Wilmington
WILMINGTON, NC (STARNEWS) — As many Cape Fear renters continue to face steep rental rates, one development firm has plans for a new apartment complex in Monkey Junction where rent would average $1,000.
All of the complex’s proposed 54 apartments would be considered income restricted and affordable for those making between 30% and 70% of the area median income.
Rents in the complex, which plans call The Woods at Masonboro, are expected to range from $400 to $1,435, according to Joseph Kass, development manager with South Carolina-based developer NHE Inc.
