Raleigh affordable housing bonds to benefit thousands of residents
Revenue approved this month by Raleigh voters will help the city pay for more than 3,200 affordable residences over the next five years for people who have a hard time paying for a place to live.Posted — Updated
People already experiencing homelessness have been hit especially hard during the pandemic.
A social worker helped Huyser get placed at an Urban Ministries shelter in September.
"Staying in a tent wasn't for me anymore. So, they got me in contact with the Helen Wright Center," she said.
The center is one of many places that will benefit from the affordable housing bonds, will go to help people who can't afford to rent, buy or stay in their homes. City officials say the money would be spent in five areas:
- Public-private partnerships for new developments
- Buying land for future affordable housing
- Rehabilitating homes
- Gap financing given to nonprofits and developers to help cover the costs of building affordable housing
- Money for first-time homebuyers
"This is the largest bond that Raleigh has ever passed around affordable housing, and it's a great first step," Urban Ministries of Wake County Executive Director Peter Morris said.
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