Town staff presented the latest progress report to Council Wednesday night on the Town’s housing needs and progress towards reaching Council’s affordable housing goals. Highlights from the report include:
Five new affordable homes were added to the permanently affordable inventory.
The Town allocated all available Affordable Housing Development Reserve funding ($688,395) in the first application cycle for the second year in a row.
Trinity Court and Jay Street Affordable Housing Development Projects completed Concept Plan review and submitted Conditional Zoning Applications to provide over 100 affordable housing units total.
Council authorized a site-development agreement with Self-Help Ventures to begin affordable housing development at 2200 Homestead Road.
Even with additional Town support, the affordable housing gap has grown to over 3,800 units for households below 60% of the Area Median Income (~$50,000)
To help the Town make progress towards addressing the community’s housing needs, Council has set five-year targets for affordable housing preservation and development. The Affordable Housing Quarterly Report is a tool to monitor the Town's progress towards meeting our targets, share the status of projects funded with Town resources, and summarize key community indicators related to housing in Chapel Hill.
Interested in learning more about the housing needs of the community and what the Town is doing to address them? Check out the Affordable Housing Quarterly Report and staff’s Mid-Year Report to Council!
