From Staff Reports
The Chapel Hill Town Council has approved $5.25 million in funding to support the development of 278 new affordable homes in Chapel Hill.
Approved Funding Plan:
|Organization & Project Name||Town Funding Award||Number of Units|
|CASA – Merritt Mill||$438,995||48|
|EmPOWERment – Johnson Street||$200,000||8|
|Habitat for Humanity – Weavers Grove||$1,255,692||100|
|Pee Wee Homes – Tiny Duplex||$55,313||2|
|Town of Chapel Hill – 2200 Homestead Road||$3,300,000||120|
The council approved funding awards from the town’s $10 million affordable housing bond, which was approved by voters in 2018. The approval is to use the first $5 million of those funds. The extra $250,000 comes from Chapel Hill’s Affordable Housing Development Reserve.
“The town and our community partners are working hard to provide more affordable housing that meets many diverse needs,” said Mayor Pam Hemminger. “We are thankful for the community’s support of the affordable housing bond and the dedicated annual affordable housing monies and are excited to be using those funds to move forward on creating 278 new homes in Chapel Hill.”
The approved funding plan will support five new affordable housing development projects that anticipate adding 278 new affordable homes in Chapel Hill. These projects will provide homeownership and rental opportunities for households with a range of incomes, including extremely low-income households.
[For another way to increase affordable housing in Chapel Hill, see the TLR guest column, “A partial solution for affordable housing here?”]