Turning Faith-Owned Land Into Affordable Housing

Unused land could be an opportunity to create affordable homes. The City is connecting faith institutions with housing developers to explore what’s possible and provides resources to help move projects forward.

Considering Housing on Your Property?

Before connecting with a developer, there are a few things faith institutions can do to better understand their property and goals.

Learn about your property

• Check zoning, floodplains and other site conditions using Wake County GIS.
• Review property records for easements, deed restrictions and other limitations.
• Gather an existing survey, if available.
• Consider the condition of any existing buildings.

Think about your goals

• What type of housing would you like to see?
• What role does your organization want to play?
• Are you interested in owning the property, leasing the land or another arrangement?

View a print ready version of the resource above: Church Affordable Housing Journey Map

Understanding Affordable Housing Development

Affordable housing development involves specialized financing and a team of partners. A developer can help determine what is feasible on your property and identify potential funding sources.

A few terms you may hear:

• Capital stack: The combination of loans, grants, tax credits, equity and other funding used to pay for a project.
• Gap financing: Funding that helps cover the difference between project costs and what the project can support through affordable rents.
• LIHTC: A federal tax credit program that helps finance affordable housing.
• Soft loan: A loan with favorable terms, such as low interest or deferred repayment.
• Developer: The partner who leads the development process, including feasibility, financing, design, permitting and construction coordination.

Finding a Development Partner

The right development partner can help turn an idea into a feasible project. When talking with potential developers, consider asking:

• Experience: Have you developed affordable housing projects of a similar size and scale?
• Local knowledge: Have you worked in Raleigh and with local permitting and zoning processes?
• Financing: What funding sources have you used for affordable housing?
• Team: Who would be involved in developing the project?
• Timeline: What would the process and timeline look like?
• Ownership: What ownership or partnership structure would you recommend?
• Responsibilities: What would you need from our organization?

Ready to Explore the Possibilities?

The City can help connect faith institutions with affordable housing developers and provide resources to help you understand your options.

Submit an interest form