Belmont Housing Authority

What Belmont Housing Authority does

Belmont Housing Authority is a government-designated public housing authority operating in Belmont, North Carolina, providing affordable rental housing to very low-income families, seniors aged 62 and older, and persons with disabilities. The organization manages 82 housing units across two properties: Flowers Court, a 50-unit family community with two-, three-, and four-bedroom apartments, and Myrtle Terrace, a 32-unit elderly and disabled community with one-bedroom apartments featuring elevator access and on-site laundry. Both properties operate under income-based rental programs where tenants pay the higher of 30% of adjusted monthly income, 10% of monthly income, or a stated minimum rent ($25 at Flowers Court, $50 at Myrtle Terrace).

The business model is structurally anchored in federal subsidies rather than market-rate rental income. Funding flows from three primary streams: HUD public housing operating subsidies for Flowers Court, HUD Section 8 contract assistance for Myrtle Terrace, and USDA Rural Development mortgage subsidy for Myrtle Terrace. The authority is governed by a five-member Board of Commissioners appointed by the Mayor of Belmont, with day-to-day operations led by Executive Director Erica Bobo. Myrtle Terrace operations are outsourced to Partnership Property Management Company while BHA retains asset ownership. The organization has deployed online resident portals enabling rent payment, work order submission, and electronic document exchange, but otherwise operates as a traditional property management entity with no proprietary technology or AI capabilities.

Demand significantly exceeds supply, with waitlist times exceeding 24 months at both properties, reflecting BHA's role as the principal provider of deeply subsidized housing in its micro-market. The organization has no private-sector competitors, no external ownership, and no venture funding, functioning as a stable government-supported social service provider rather than a growth-oriented enterprise.

Name

Belmont Housing Authority

Legal name

Belmont Housing Authority

Website

https://bhanc.org

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Belmont Housing Authority is a federally funded public housing authority in Belmont, NC, managing 82 income-based rental units across two properties for very low-income families, seniors, and persons with disabilities, supported by HUD and USDA Rural Development subsidies.

Ownership category

akta.pro rank

Product category

Public Housing / Affordable Housing

NAICS

Other Residential Care Facilities (623990)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA)

akta.pro secondary industries

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ)

Keywords

• Public housing services
• Affordable housing programs
• Senior housing assistance
• Section 8 housing
• Subsidized rental housing

Headquarters

HQ city

Belmont

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Others

Revenue model

1. Federal Housing Subsidies (HUD): Belmont Housing Authority receives federal funding through the U.S. Department of Housing and Urban Development (HUD) for public housing operations at Flowers Court. This funding supports management and operation ensuring rents remain affordable for qualifying residents.
2. Section 8 Contract Assistance (HUD): Myrtle Terrace receives rental subsidy through HUD Section 8 contract assistance, providing ongoing federal support for affordable housing operations.
3. USDA Rural Development Subsidy: Myrtle Terrace was constructed with an interest-subsidized loan from Rural Development, with ongoing mortgage subsidy support from the USDA Rural Development program.
4. Resident Rent Payments: Residents pay rent based on income (typically 30% of adjusted monthly income, 10% of monthly income, or minimum rent). Flowers Court minimum rent is $25; Myrtle Terrace minimum rent is $50. Residents pay their own utilities at Flowers Court, while utilities are provided at Myrtle Terrace.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Belmont Housing Authority is a government-funded public housing authority that provides safe, decent, and sanitary affordable housing to very low-income families, seniors, and individuals with disabilities through two managed properties in Belmont, NC. It offers income-based rental housing at Flowers Court (50 family apartments) and Myrtle Terrace (32 elderly/disabled apartments), supported by federal HUD and USDA Rural Development subsidies and resident self-service portals.

Product overview

Belmont Housing Authority operates as a public housing authority providing affordable housing through two distinct properties: Flowers Court Property (a public housing community with 50 family apartments offering two-, three-, and four-bedroom units) and Myrtle Terrace Property (a 32-unit elderly/disabled housing community with one-bedroom apartments). Both properties receive funding from HUD and USDA Rural Development and offer income-based rental programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Flowers Court Property (Public Housing) A 50-apartment public housing community located on a tree-lined private street ending in a cul-de-sac at 51 Flowers Court, Belmont, NC 28012. Offers two-, three-, and four-bedroom apartments for eligible low-income families, the elderly, and persons with disabilities. Funded by HUD public housing operating subsidies. Minimum rent $25; residents pay utilities directly with a utility allowance provided.
• Myrtle Terrace Property (Section 8 / Elderly Housing) A 32-unit elderly and disabled housing community in a two-story building at 55 W. Myrtle Street, Belmont, NC 28012, designated for individuals age 62 and older and persons with disabilities. Offers one-bedroom apartments with elevator access and on-site laundry facilities. Funded by HUD Section 8 contract assistance and USDA Rural Development mortgage subsidy. Minimum rent $50 with utilities included.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Partnership Property Management CompanycoreImplementation/ SI/ Consulting PartnerMyrtle Terrace is owned by Belmont Housing Authority but managed by Partnership Property Management Company based in Greensboro, NC. The property management company handles day-to-day operations including leasing, rent collection, and maintenance coordination.
• U.S. Department of Housing and Urban Development (HUD)coreOthersPrimary federal funding source for public housing operations. HUD provides financial assistance to BHA for management and operation of Flowers Court, and Section 8 contract assistance for Myrtle Terrace. HUD also provides professional and technical support in planning, development, and ongoing management.
• USDA Rural DevelopmentcoreOthersProvided interest-subsidized loan for construction of Myrtle Terrace and ongoing mortgage subsidy. Key federal partner for elderly housing development.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Winston-Salem Housing Authority: North Carolina PHA operating multiple public housing properties serving families, seniors, and disabled residents. Comparable in offering mixed-tenure public housing programs with HUD operating and capital fund subsidies.
• Housing Authority of the City of Asheville: North Carolina public housing authority administering HUD-funded public housing and voucher programs. Comparable as a municipal-scale PHA delivering federally subsidized rental housing under identical HUD regulatory frameworks.
• Raleigh Housing Authority: Mid-sized North Carolina PHA operating public housing communities, Section 8 vouchers, and affordable rental programs. Comparable in core mission, HUD funding reliance, and resident demographics, though at a larger scale.
• Charlotte Housing Authority: Largest public housing authority in North Carolina operating public housing and voucher programs in the Charlotte metro. Comparable as a HUD-funded PHA administering public housing units for low-income families, seniors, and disabled residents under similar federal program rules.

Regional players

• Greenville Housing Authority: Public housing authority serving Greenville, SC. Operates public housing and voucher programs under the same HUD regulatory regime for similar resident populations in a nearby Southeast regional market.
• Gastonia Housing Authority: Neighboring PHA serving Gastonia, NC directly adjacent to Belmont. Operates public housing and Section 8 programs for similar resident populations in the same regional housing market, making it a close geographic and programmatic peer.

Broad incumbents

• Mercy Housing: Large national nonprofit affordable housing provider operating service-enriched rental housing for low-income families, seniors, and disabled residents. Comparable in mission and HUD/LIHTC financing reliance, though at much greater scale and geographic breadth.

Others

• Partnership Property Management Company: Third-party property management firm that manages Myrtle Terrace on BHA's behalf. Comparable as an affordable housing property management services provider serving PHA-owned assets across the Southeast.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/belmont-housing-authority

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Belmont Housing Authority