Luxury apartments open in Wilson; solving some but not all of city's housing need

Renters will begin moving into the city of Wilson's first luxury, downtown apartments before the end of 2023, but city officials say the development only goes part of the way to addressing the need for housing.

The Centro at Pine Nash has 488-square-foot studio apartments for $1,170 per month, one bedrooms for $1,382 and two bedrooms, with 968 square feet, at $1,846. The complex will have five stories, 240 units and 10,000 square feet of retail space.

"We are really focused on sort of an urban-style product, like you would see in downtown Charlotte or downtown Raleigh," said Andrew Holton of NSV Development.

According to rent.com, rent rates at The Centro at Pine Nash are about $200 less per month than the average for the same space in Raleigh.

NSV and other developers see the potential.

"We think that it is probably going to be one of many," Holton said. "We think that downtown Wilson has the ability to increase its residential housing supply by several thousand units over the next 10 to 15 years."

The Centro has already changed the landscape in downtown Wilson. It is the first of its kind for the city and demonstrates the eastward push of amenities more associated with the Triangle.

"Maybe people haven't thought of Wilson being really part of the Triangle, but it is coming," said Rodger Lentz, assistant city manager of Wilson. "I think residential development is going to be increasing here over the next decade. And it's a good thing because we need that to support our corporate parks and the employment opportunities we have here."

Beyond the luxury, Wilson also needs affordable housing.

"We are making some really good investments in affordable housing ... it's not enough," Lentz said.

Demand outpaces the supply.

The Wilson Housing Authority says there are currently 60 families in the city with Housing Choice Vouchers but no landlord to accept them.

Lentz said, "The hope is that this is catalytic and it brings confidence to the market that Wilson can support more downtown living and retail."

Residents of The Centro will start moving in December, and NSV expects the building will be filled by this time next year.