• Rose Park Manor

128 SW Maynard Road/ Rose Park Manor

Beacon Management Corporation, a senior housing development firm, has completed the development of Rose Park Manor and is currently leasing affordable senior housing at 128 SW Maynard Road. 

About the development

Beacon Management Corporation completed the construction of Rose Park Manor in the Spring of 2026. They are currently leasing 81 affordable units; all reserved for seniors (age 55+) earning 60% of Area Median Income (AMI) or less. This development was made possible through significant investment by Cary and Wake County. Please see the bottom of this webpage for leasing office contact information. 

128SWMaynard
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Overview

  • 81 total units, all are affordable to senior households earning less than 60% of the Area Median Income, “AMI” (See eligibility for more information.)
  • The site is well serviced by local transit, is located adjacent to a commercial center and within walking distance of Cary’s Downtown.

Map

View our map here.

Partners

  • Beacon Management Corporation, a North Carolina-based senior housing developer, developed and is managing the property.
  • Both Cary and Wake County partnered to provide funding.
  • Freddie Mac & Merchants Bank partnered to provide permanent financing.

Eligibility

Eligibility for most affordable housing programs is determined by the Area Median Income (AMI), which is determined each year by the U.S. Department of Housing and Urban Development. For this development, all 81 of the units will be rented to senior households earning at or below 60% of the AMI. Rent prices are not fully determined until the end of construction and will vary by applicant income and household size.

This property is within the Raleigh-Cary Metropolitan Statistical Area or (MSA) which includes Wake, Johnston and Franklin counties. The Federal Government (OMB) delineates these areas based on population as well as social and economic interaction. The income numbers derive from the ACS- American Community Survey data and are the standard for defining affordability used by federal, state, and local governments. The current AMI thresholds for the Raleigh-Cary MSA are listed here.

 

Imagine Cary Community Plan & Housing Plan

This development furthers Cary Community LIVE Chapter Policies and Housing Plan Goals by:
  • Providing more housing choices for seniors
  • Supporting residential development on an infill site
  • Encouraging and supporting the provision of affordable dwellings
  • Providing the higher density, transit-oriented housing options in mixed use centers and along transit corridors
  • Promoting walkability and connections to nearby commercial centers

Timeline

Aug 2021

Neighborhood meeting

Oct 2021

Council Public Hearing

Dec 2021

Planning and Zoning Board

Feb 2022

Council Final Decision

Winter 2024

Development Review

Spring 2026

Construction

Spring 2026

Welcome Residents

More information

This development is currently leasing units in anticipation of welcoming residents in the Spring of 2026. If you are interested in becoming a tenant, please email the property manager Beacon Management Corporation at rosepark@beacon-nc.com or call (984) 370-7772 for application materials.