Hull's Landing, a housing community for veterans built and managed by CASA.

Hull's Landing, a permanent supportive housing community for veterans built and managed by CASA

CASA Builds New Affordable Housing Development with Bond Funding

Upwards of $7 Million in Affordable Housing Bond Proceeds Will Be Used Toward the Project

In 2019, local nonprofit organization CASA purchased six acres of land to become the future site of King’s Ridge Apartments. The need for affordable housing in Raleigh is great, and King’s Ridge offers a contributing solution: a vibrant apartment community that will reduce the number of people experiencing homelessness in Raleigh and Wake County by 10%.

Through public-private partnerships, the Affordable Housing Bond supports nonprofits and developers in creating new affordable housing options for low- and moderate-income residents and those experiencing homelessness. The City will contribute over $8 million toward the development of King’s Ridge, including $7 million in bond proceeds and $1.4 million in federal HOME funds.

CASA King's Ridge

King's Ridge will be comprised of 100 units for individuals and families with one, two, and three-bedroom floorplans. Located off Sunnybrook Road, apartments are reserved for households exiting homelessness with incomes at or below 60% of the Area Median Income (AMI), with priority given to households at 30% AMI. 

Because of the Affordable Housing Bond and support from the community, construction can begin at King’s Ridge, providing stable housing for residents who live with disabilities, histories of homelessness, and barriers to housing. CASA will hold a groundbreaking ceremony for King’s Ridge on March 29, with plans to accept applications next year.

"CASA hopes with the bond funds to complete this project, to complete the construction, to actually make this come alive in the community and create this opportunity for our neighbors," said Everett McElveen, CEO at CASA.

"Partnerships on a project like this are critical. Having people come together means that it will be supported and that the community actually is accepting of this project, that people actually care about their neighbors. That's what I think it says about our community. I think that's what it says about Raleigh," he said.  

Residents will only pay one-third of their income for rent and utilities. In addition, residents will have access to supportive services on-site, including case management, employment assistance, mental health counseling, substance abuse treatment, childcare navigation, and more. CASA believes that ending homelessness for families with children can disrupt a generational cycle of poverty and lead to new opportunities for those who live at King’s Ridge.

"[For] families that have struggled for generations to make enough money to find a safe home to live and to raise their children, this is an opportunity to find a true home," said Erin Yates, Director of King’s Ridge. "I'm almost speechless at times when I think about the opportunities we're about to provide for families and individuals."

This year, $24.8 million in Affordable Housing Bond funds will be used toward creating affordable housing options near transit, supporting local nonprofit organizations and homelessness efforts, and small-scale rental projects for residents at 60% AMI and below. To learn more, please visit the Affordable Housing Bond page.

Contact

 

Housing and Neighborhoods
cd.info@Raleighnc.gov
919-996-4330

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