Raleigh City Council has strengthened its commitment to affordable housing. On Tuesday, they approved $22.8 million for multiple affordable housing projects. These new homes will be close to buses, grocery stores, and doctors, making it easier for families to live and work in Raleigh.
This approved funding shows the City's commitment to tackling the affordable housing puzzle, one piece at a time.
- City Council approved $15.7 million to construct 160 affordable homes in the Moore Square area. These apartments will help Raleigh residents who earn between 30% and 80% of the area's median income (AMI).
- The apartments will have 51 one-bedroom, 77 two-bedroom, and 32 three-bedroom units. A portion of these homes will be set aside for supportive housing through NCHFA's Targeting program and Wake County's Rental Assistance Housing Program. These programs connect rental assistance and support services to those who are experiencing homelessness with a disability.
- Council also approved $7.1 million in gap financing to ensure the completion of 294 affordable rental units. These homes, for families with low incomes, will be in two new communities: Maple Ridge and Strickland Apartments.
- Maple Ride will have 146 homes. There will be 16 one-bedroom, 82 two-bedroom, and 48 three-bedroom units. 41 of these will be reserved for households earning between 20% and 50% AMI.
- Strickland Apartments will have 148 homes, including 37 one-bedroom, 75 two-bedroom, and 36 three-bedroom units. A portion of these homes will be reserved for those earning between 20% and 60% AMI.
This funding commitment will help create more affordable homes for Raleigh residents as the City continues to grow. For more information on how Raleigh is working to ensure that all residents have a place to live, visit our Housing and Neighborhoods Affordable Housing page.