Judd Roth Real Estate Development, Inc.
Affordable Housing Mixed Finance Specialists
Judd Roth Real Estate Development, Inc.
Menu
Success Story:
Ford City Motor Lofts
Salisbury, North Carolina
In March 2026, JKRRED client, Osceola Council on Aging opened Ford City Motor Lofts, an independent living senior apartment complex in Rowan County, North Carolina. This adaptive-reuse development, formerly a Ford dealership, is on the National Register of Historic Places, and features 64 units across six buildings on South Main Street in downtown Salisbury.
The project includes 28 market-rate studio apartments in the original historic building, with the remaining 36 units located in five nearby buildings. Through layered financing, the developer successfully preserved the historical site, while providing affordable housing for seniors aged 55+ and HUD Section 202 PRAC units for seniors 62+ with rent set at 30% of income.
The $19.8 million project was funded by the Department of Housing and Urban Development Section 202, the Federal Home Loan Bank of Atlanta Affordable Housing Program, State and Federal Historic Tax Credits, NCHFA 4% LIHTC, and City of Salisbury funds.
Wendy Ford, CEO of Osceola Council on Aging, noted that this project addresses the growing need for affordable senior housing by repurposing a historic site. Its location on Main Street ensures residents are within walking distance of restaurants, transportation, and daily necessities. "It absolutely will change lives," Ford stated. "There’s one component of making it affordable and one of making it livable, and this is the perfect marriage."
