A new neighborhood called Tupper Place is financed by thecity of Raleigh,NationsBankandShaw University.
The plan constructed 68 single-family homes starting at $150,000 in an effort to give the Southeast area an economic boost.
The joint project began two years ago. With the snip of a ribbon, it became a reality Thursday.
However, not everyone in the area is happy to see new neighbors move in.
"All of the homes out here are pretty much brick, and they aren't going to put any brick houses back there, and I know it," says neighbor Laverne Goins. "They might put a little brick on the front or somewhere, but it's not going to be the type of homes that we have in this area."
Goins says that although the homes are supposed to start at $150,000, she is skeptical that will happen.
Organizers admit that the lot sizes will be substantially smaller than the houses currently in the neighborhood, but insist the types of homes will be very similar.
"If they do what they said, everything will be all right," Goins said. "But that is to be seen."
The first homes will be on the market in six months.