The Princeton-Caldwell County Industrial Development Authority is requesting that the Board of Education consider the surplus of two school-owned properties for a potential apartment development to boost local affordable housing options.
IDA Chairman and Judge-Executive Kota Young shared with the school board during a special-called meeting Monday night that they are working with Wabuck Development to build a 60-unit affordable complex, Madison Mills, on the former Hosiery Mill lot, based on low-income tax credits. He said they also plan to partner with Wabuck on a second, similarly sized complex focused on family and workforce housing.
Young provided a color-coded map highlighting the two school board properties of interest to the IDA located across the street from the Butler campus.
click to download audioHe gave more details about the school board-owned properties the IDA hopes to purchase.
In response to a question from Board member Kim Cook, he outlined the project timeline.
click to download audioYoung noted that this is not a fast-moving project, and it could be two school years before the school would need to vacate the wrestling facility, if the Board decided to surplus the property.
Board member Anna Ray inquired about the number of units that could be built on the orange-marked property if the Board decided to surplus it.
click to download audioSuperintendent Dr. Jeremy Roach informed the Board that no action would be taken at this meeting.
click to download audioAfter Young’s presentation, the Board heard a detailed update from Baird on district bonding potential, then approved final staffing allocations, staffing requests, and the Dean of Students job description for 2026-27.
