The Chapel Hill Town Council has approved an affordable housing development on Town-owned land at 2200 Homestead Road. The project will include about 120 affordable homes, with a combination of apartments, townhomes and duplexes that serve a range of household incomes from less than $18,000 to a little over $100,000. The site plan also includes a variety of community amenities, including a multi-use greenway path, walking trails, a basketball court, and a community garden.
The Homestead Project is the latest example of the Town’s strategy to use Town land to support the development of affordable housing in Chapel Hill, where 58% of renters and 23% of homeowners are cost-burdened, or spend more than 30% of their income on housing expenses. The Homestead Project, and other similar development projects planned and under way, will help the Town address the community’s great need for affordable housing with a goal of adding 400 units of affordable housing in five years. “We are very excited about 2200 Homestead,” said Mayor Pam Hemminger. “Chapel Hill values being an inclusive community and, by providing land and working with our partners, we are creating a welcoming community and a special place for people to call home.”
Since 2017, the Town has worked closely with its design and engineering team, comprised of MHAworks and CJT, PA to develop and refine a site plan that will create an inclusive, mixed-income community offering a variety of housing types that serve a variety of housing needs. The Town has also worked closely with its prospective development team, the Homestead Housing Collaborative, a unique collaboration of local affordable housing developers. The Collaborative partners will achieve the project’s vision by each bringing their development expertise to the project:
Self-Help Ventures Fund, as master developer and site developer
CASA, as developer of rental apartment units
Community Home Trust, as developer of for-sale townhomes
Habitat for Humanity of Orange County, as developer of for-sale duplexes
The Homestead Project will be financed by a variety of public and private funding sources, including awards from the Town of Chapel Hill and Orange County affordable housing bonds. With Council approval for the rezoning of the site in hand, the development team will apply for the permits needed to begin construction, with a goal of breaking ground in early 2022.
