The first phase of a project to bring more affordable housing to Winston-Salem is nearing completion, but a multimillion-dollar funding gap for the next step remains.

The Choice Neighborhood Initiative involves the revitalization of the Cleveland Avenue neighborhood. The five-phase project will result in more than 400 new mixed-income, affordable housing units.

On Tuesday, the board of commissioners of the Housing Authority of Winston-Salem (HAWS) received an update on the initiative at its meeting. 

HAWS Executive Director Kevin Cheshire said the next phase of the project's funding gap is around $7 million, down from the $11 million shortage originally estimated. This affects 120 units.

"We think we've pretty much gone as far as we can go with that," Cheshire said. "We may be able to shave off a little bit more, but this really is our nut that we think we have to crack."

The first phase of the project, Brown School Lofts, is also nearing completion. Cheshire said this week could see the first move-ins for the 81-unit complex.

A ribbon cutting for the property is currently scheduled for April.

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