On December 5, Raleigh City Council added one more piece to the affordable housing puzzle when it voted to sell City-owned land to Habitat for Humanity of Wake County for one dollar.
Habitat Wake plans to construct nine townhome units for income-qualified, first-time homebuyers. Two of the townhomes will be affordable to households earning up to 60% of the Area Median Income ($67,980 for a family of four). The other seven townhomes will be affordable for households earning up to 80% of the Area Median Income ($90,650 for a family of four).
Households may be eligible for up to $45,000 through the City’s Homebuyer Assistance Program. This program helps with the down payment and other closing costs to reduce the price of the home. Homebuyers can access other down payment assistance programs to make the home even more affordable.
The land, located at 4314 Poole Road, connects the GoRaleigh transit center to Habitat Wake’s newest community, Old Poole Place. These nine townhomes will join the Old Poole Place neighborhood, where the construction of 60 single-family homes and 45 townhomes is underway.
This decision has enabled nine more families to purchase an affordable home and has given hundreds of people living in the Old Poole Place neighborhood better access to public transportation. We are thankful for the City of Raleigh’s long-term partnership with Habitat Wake and with their support, we look forward to continuing to work on projects that will increase access to housing for everyone in our community.
Patricia Burch, Habitat Wake CEO
Land disposition, or the sale of City-owned land, is a key piece of the City’s affordable housing puzzle. The land at 4314 Poole Road was appraised at over $650,000 and sold for just one dollar. Subsidizing affordable developments by making land available at a low-cost helps make the numbers work for developers to keep housing prices affordable in our community.
Learn more about Habitat Wake’s work and the City’s affordable housing programs and actions.
