FELTON, Del., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Carson Development LLC hosted a groundbreaking ceremony this morning for the Reese Apartments, a significant affordable and workforce housing initiative in Felton, Delaware, aimed at addressing the urgent need for affordable housing in the state. Attendees included Delaware State Senator, Eric Buckson, Congresswoman Lisa Blunt Rochester, Lieutenant Governor Bethany Hall-Long and Delaware State Housing Authority (DSHA) Director, Cynthia Karnai.

This project also marks a significant milestone, as Carson Development proudly stands as the first and only Women-Owned Business Enterprise (WBE) Low-Income Housing Tax Credit (LIHTC) developer in the state, showcasing a commitment to diversity and inclusion in the housing development sector.

^{Pictured: Honorable George 'Jody' Sweeney, Kent County Commissioner; Cynthia Karnai, director of DSHA; Congresswoman Lisa Blunt Rochester, representing Delaware; Brett Smith; Danielle Smith, president and founder of Carson Development; Carson Smith, namesake of Carson Development; Lieutenant Governor of Delaware, Bethany Hall-Long; Martha Gilman; and Max Friedman, vice president of development for Carson Development.}

The Reese Apartments, located at 130 Reese View Circle, will have a profound impact on the local community, adding 48 new affordable units, and providing essential social services, including health and nutrition education, family programs, and financial counseling to residents for free.

“We are thrilled to develop quality, affordable housing for families at a range of incomes in Kent County,” said Danielle Smith, President of Carson Development. “This development is not just about building apartments; it’s about creating opportunities to empower families and build brighter futures that strengthen our community. Everyone deserves a place to call home, so we are proud to contribute to the future of Felton and the surrounding areas,” she added. Ms. Smith’s work and tireless commitment to changing the landscape of affordable housing in Delaware is inspired by the work of the late Marvin Gilman and the support of Martha Gilman.

The Delaware State Housing Authority (DSHA) and Kent County have recognized this project’s impact since it was first introduced in 2021 and have been committed project partners throughout the process. “The Reese Apartments’ improvements to off-site infrastructure will bring essential public sewer and water services to the area, laying the groundwork for future commercial growth and job creation along this sector of Route 13,” said Ms. Smith. Its strategic location near commercial job centers and access to public transportation will create valuable employment opportunities for residents. Carson Development plans to enhance the on-site bus stop, further improving public transit services and increasing connectivity. These initiatives underscore Carson Development's commitment to fostering a vibrant community, equipped with accessible infrastructure and sustainable living solutions that enhance the quality of life in the area.

The federal LIHTC program is vital in providing the necessary financing tools for developers, but it requires expansion to keep pace with the increasing demand for affordable housing and rising construction costs. Delaware’s latest Housing Needs Assessment highlights a critical shortage of over 20,000 affordable housing units, with projections indicating that this figure could rise significantly in the coming years. Approximately 50,000 households in the state are currently spending more than 30% of their gross income on rent and utilities, while another 25,000 are spending over 50%.

“By increasing funding for the LIHTC program at 20% annually, Delaware could double its affordable housing production in under five years,” said Max Friedman, Vice President of Development for Carson Development. “Housing projects create hundreds of jobs while contributing to local infrastructure and school improvements. New residents also bring employment options to support local businesses,” he added.

The Reese community is set to be completed in the Spring of 2026, with construction led by general contracting and construction management firm, Gillis Gilkerson. The property will feature a mix of 1-, 2- and 3-bedroom units, ranging from $345.00 to $1550.00 per month. The brand-new apartments will feature modern kitchens with energy star appliances, LTV flooring, ceramic tiled baths, energy efficient A/C, and washer/dryer hook-ups. Residents will have access to community amenities, including an on-site management office, community room, walking paths, playground, laundry facility and bike storage.

About Carson Development LLC: Carson Development is a premier real estate developer focused on developing vibrant, engaging communities through innovative residential and commercial projects. We are committed to creating high-quality, transformative affordable housing solutions that enhance the quality of life for residents. Carson Development proudly stands as the first and only Women-Owned Business Enterprise (WBE) Low-Income Housing Tax Credit (LIHTC) developer in the state of Delaware. Our experienced team leverages deep industry knowledge so we can prioritize quality, sustainability, and collaboration, while strengthening the communities we serve. Learn more at carsondevco.com.

Media Contact:
Krissy McNeil
Director, PR & Media Relations
krissy@emmesolutions.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b642bd3e-ea6c-4e54-9449-1ee6ca4fee91

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