DreamKey Partners completed $31 million in real estate development in 2020, bringing total investments to $353 million since its founding in 1989. As a full-service real estate development organization focused on affordable housing, it oversees land and acquisition, design and entitlement, capital sources, construction and management. The organization also includes community engagement – listening sessions with neighborhood leaders and residents – as a critical component of its development process.
“During an extremely challenging year, we continued to serve customers and neighborhoods with a range of affordable housing options for seniors, veterans, families and homebuyers,” said Julie Porter, president of DreamKey Partners. “We worked closely with partners and residents to address the needs in the community while also achieving the right balance of quality, design and cost management.”
In 2020, DreamKey Partners received capital from the Charlotte Housing Trust Fund, NC Housing Finance Agency, financial institutions and a faith-based organization, resulting in more than 288 housing units, of which 219 were affordable, including:
- The Mezzanine at Freedom, 185 multi-family housing units
- Crown Court, 103 housing units for seniors
Working mom Katia and her daughter moved into The Mezzanine several months ago. Katia shared, “Moving to the apartment community could not have come at a better time. It’s close to my daughter’s school and we’re excited to have our own living space.”
DreamKey Partners currently has 29 properties in its portfolio. An additional 26 affordable and market-rate for rent and for sale developments are also in the pipeline across North and South Carolina, with plans to continue expanding throughout the Southeast.
The organization re-introduced its single-family development business in 2020 – Aveline – to help close the gap on generational poverty and affordable options for qualifying homebuyers. Aveline at Coulwood, the first single-family development under Aveline, will offer 52 single-family, affordable and market-rate homes in Northwest Charlotte beginning in 2022.
Developments currently planned or in pre-construction include:
# of Housing Units
|Multi-family||Marvin Road |
South Village at Scaleybark
Mayfield Memorial Baptist Church
Grounds for Change
Park View Commons at Cindy Lane
|Senior||Johnston Oehler|| |
|Single-family||Aveline at Coulwood |
|Supportive||Easter’s Home at Caldwell Presbyterian|| |
These developments will create 917 affordable and market-rate housing units and include partnerships with Minority- and Women-Owned Business Enterprises, such as Neighboring Concepts, Verde Homes, Robin Haddock at RLH Development, LLC, Liz Ward at Give Impact, and independent consultant Hans Harris.
To help individuals and families buy homes and learn budgeting skills for everyday living including paying rent, DreamKey Partners offers virtual homebuyer and financial empowerment education. The organization also provides deferred and forgivable loan options and one-on-one counseling for homebuyers, including down payment assistance for Hispanic homebuyers and the Charlotte Community Heroes, funded by the Federal Home Loan Bank of Atlanta.