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Garnett Street in the Phase I Hope VI Main Street Revitalization Project

Henderson, N.C. –(March 15, 2010)- Rehab Development is pleased to announce that first building of four (12 apartments) on Garnett Street in the Phase I Hope VI Main Street Revitalization project has been completed and certified for occupancy. 135 S. Garnett Street, originally a bank, now consists of two 2nd floor apartments and a newly renovated retail space that now houses “The Teacher Store” which has happily re-located from West Andrews Avenue back to Main Street in downtown Henderson. The remaining three buildings, 113, 127-131 and 420 S.Garnett Street are progressing rapidly and are expect to be certified for occupancy by June 15, 2010.

“The Hope Six Main St Project will increase the population in the central business district, add to the county tax base and spur economic development,” said Jason Stewardson, President of Early Falsom Properties and owner of 420 S. Garnett Street “The apartments have already seen a lot of interest from potential occupants and should be fully occupied by completion of the project, with very little vacancy time. They are becoming a big attraction for the younger crowds which in turn will be a boost for the local merchants/businesses. The storefront rehabs in conjunction with this project are becoming occupied just as quick. Thank you Rehab Development for your dedication to this project.”

The Main Street area revitalization efforts seek to rejuvenate older, downtown business districts while retaining the area’s traditional and Historic character. The purpose of the HOPE VI Main Street Program is to provide assistance to smaller communities in the development of affordable housing that is undertaken in connection with a Main Street revitalization effort. Obsolete commercial offices or buildings can be reconfigured into rent producing affordable housing.