Blue Ridge Terrace Apartments

Mcdowell Housing Corporation, a north carolina not-for-profit Corporation, was organized to construct, own and operate a 60-unit apartment community in marion, north carolina, known as Blue Ridge Terrace Apartments, pursuant to section 223(f) of the national Housing act as amended. The Corporation has entered into the standard fha regulatory agreements governing the operation of the community with the federal Housing administration section of hud. A Housing assistance payment contract (hap) provides rent for low income families (or persons) as provided by the section 8 program of the national Housing act.