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Alexander County Receives $650,000 Grant

The NC Department of Commerce Rural Economic Development Division has awarded a $650,000 Rural Transformation Grant to Alexander County Government to rehabilitate property located at 16 West Main Avenue in Taylorsville. The county will contribute $100,000 to the project, which is estimated to cost $750,000.

The Alexander County Economic Development Corporation (EDC) spearheaded the grant application, which was entitled “Alexander – Housing Our Teachers” (Alexander – HOT). The project will renovate and develop the former Chamber of Commerce building into a commercial space on the ground floor, two one-bedroom residential units on the upper floor, and tenant storage areas in the basement. An adaptive reuse assessment study of the property at 16 West Main Avenue was completed by Maurer Architecture in January 2022.

Based on research, the upper-floor residential units will be leased at affordable housing rental rates or 30 percent of the teacher’s gross annual income as defined by the federal government for affordable housing. The street-level commercial space will be leased at Taylorsville’s average commercial rental rate. The EDC will focus recruitment efforts on a retail use to meet the market demands of Alexander County.

The county plans to issue a request for qualifications (RFQ) this month for an architect/engineer to complete construction drawings and specifications. Construction is expected to begin in May 2023 with completion in December 2024. Learn more about the NC Commerce Rural Transformation Grant program at www.nccommerce.com/grants-incentives/rural-transformation-grants.