Local Politics

Raleigh committee OKs loans for affordable housing

Posted April 29, 2013

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— Two more affordable housing developments could be constructed in Raleigh using some city funding.

The City Council’s Budget and Economic Development Committee Wednesday approved funding for two affordable housing developments in key parts of the city.

Both sites are in Scatter Site Policy Priority Two. The Scatter Site Policy ranks areas of the city for affordable housing. Areas with little affordable housing are higher priority than neighborhoods already featuring multiple affordable units. Specifically, South and South East Raleigh tend to be less desirable for affordable housing than North Raleigh, where there is little affordable development.

Committee members approved a $750,000 loan for a DHIC development at 2904 Tryon Road. The community will have 48 family units ranging from one to three bedrooms.

In order to qualify for housing, residents will have to make between 30 and 60 percent of the area median income. Rents will range from $360 to $770.

The second project is by Evergreen Construction, which will build a 64-unit rental community for elderly residents who fall in the same income guidelines.

Rent will range from $325 to $675. The community of one- and two-bedroom apartments will be located near the new Wake Tech campus at 7505 Fox Road.

If the project is approved, the city will loan Evergreen $700,000.

The loans will still need to be approved by the full City Council at its May 7 meeting.


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  • That Explains It May 1, 2013

    "affordable" for who? People that have some money, but not a lot of money? What about people that have no money? What about them? How come they aren't being allowed in on this while only people with a little bit of money are?

  • ohmygosh Apr 30, 2013

    elkerster you should have stopped at "These loans that help developers." In turn the developers will help the politico's later.

  • elkerster Apr 30, 2013

    Oleguy- this is not giveaways. These are loans that help developers build more affordable housing. They get paid back.

  • oleguy Apr 29, 2013

    I am gonna leave this one alone, I am sick and fed up with Govt, give aways,, I worked 50 to 70 hours a week all my life and saved, So I could make it, I see people living just as good as me and nobody in the house works, Driving newer cars, and cooking out steaks on the weekends,,

  • IndependentAmerican Apr 29, 2013

    And here I thought banks (and other mortgage companies) were supposed to lend money. What is the gov't doing in the banking/lending business?

  • umop apisdn Apr 29, 2013


    "Cities never learn that the low income housing of today is the slum/crime haven of tomorrow."

    Actually I think they know but they don't care because it's not in the areas where the decision-makers live. Recommend one for Cameron Village and one for Five-Points and lets see who's for it.

  • ohmygosh Apr 29, 2013

    Cities never learn that the low income housing of today is the slum/crime haven of tomorrow.

  • JoCo50 at MXR Apr 29, 2013

    Who in the world calls $770 "affordable"??

  • whatelseisnew Apr 29, 2013

    Once again we see Government involved in discrimination. When is this stuff going to stop. Affordable housing exists everywhere. If you can qualify for the mortgage using very strict criteria, then the home for which you are borrowing the money is affordable to you. If you can not qualify, then you need to find a lower cost place, or rent. Government has no business stealing money from person A in order to hand it to person B. That is and always will be THEFT, and it is a direct form of Government discrimination amongst the citizens of Raleigh. It should be unlawful for Government to engage in this sort of practice.