North Wake News

County of Wake issued the following announcement on Aug. 15.

The Wake County Board of Commissioners took action on two important housing projects today –a multi-family development partnership with Wake Tech Community College and a development project in Southeast Raleigh.

“Moving these projects forward underscores our commitment to ensuring housing remains affordable to all our residents struggling to remain part of this community we love,” said Wake County Commissioner Vickie Adamson. “While the work is not done, we have reason to celebrate that soon there will be more affordable options available for those looking for a safe, stable place to rest their head at night.”

Chapanoke Road Affordable Housing

In August 2021, Wake County and Wake Tech Community College announced that property donated by Wake Tech, located at 0 Chapanoke Road in Raleigh, would be developed into multi-family affordable housing. The property, directly across from Wake Tech’s Public Safety Education Campus, will have about 235 rental units for families and individuals earning less than 80% of the area’s median income (AMI), which is considered low-income in North Carolina.

Today’s approval by the board allows the county to enter into an agreement with Raleigh Community Partners, an affordable housing development, lending and investment partnership, to process and coordinate the lease and development of the property. The proposed development would consist of a four-story building with parking, a central courtyard, additional green space, and a separate building containing approximately 10,000 square feet of retail space.

“Addressing the housing crisis in our county is a top priority for this board.  Projects such as these are vital in increasing the opportunities available to those in need of an affordable place to live,” said Wake County Commissioner Matt Calabria.

Affordable Housing Development in Southeast Raleigh

Commissioners also approved a $1 million loan to support the development of 27 affordable rental units in Raleigh.

In March, the non-profit Southeast Raleigh Promise and its development partner, Urban Trends, Inc., submitted a request to support the development of affordable units in Raleigh. The proposed developments will provide one, two and three-bedroom units for households earning 30%, 60% or 80% of the area median income or less. Units will be a mix of single-family homes, accessory dwelling units (ADUs), duplexes and townhomes.

Units will be within Raleigh city limits and at these locations:

• E. Lee Street (six units)
• S. Person Street (one unit)
• Gregg Street Cluster (12 units)
• Gregg Street (four units)
• Edenton Street (four units)

   

These units will create long-term affordable housing in Raleigh neighborhoods experiencing rapid price increases, allowing very low- to moderate-income families to live in proximity to amenities, transit and employment opportunities.

“Solving our affordable housing crisis isn’t something you can do with a one-size-fits-all approach,” said Wake County Housing Affordability and Community Revitalization Department Director Lorena McDowell. “It takes various types of projects, multiple funding sources, and lots of community partners and developers working together towards a common goal. That’s why seeing these projects all move forward is so exciting and an example of the different types of housing options that we’ll soon be available to deliver to our residents.”

Commissioners also took administrative actions on two other affordable housing projects:

• Approving an ownership interest transfer for Silver Springs Apartments, a 33-unit affordable senior development in Zebulon, for which the Board approved a $300,000 County loan in 2000. The ownership entity will remain the same and the property will continue to operate as an affordable rental housing development for seniors. The ownership interest transfer is standard for mid-life cycle Low Income Housing Tax Credit developments and has also been approved by the North Carolina Housing Finance Agency.
• Approving an extension of the loan terms for two affordable housing properties in Raleigh that the Board of Commissioners approved in 2001. CASA, a non-profit housing agency that owns and manages the 7- and 8-unit properties, plans to redevelop them starting in 2024. The redevelopment will preserve the current 15 units and CASA plans to add at least 31 new affordable units. During redevelopment CASA will ensure their tenants have options to move into the new communities or other CASA housing throughout Raleigh.

   

The board’s actions today support its community health and vitality goal of creating affordable housing opportunities and supporting efforts to end homelessness.        

Original source can be found here.