On April 24, the Chapel Hill Town Council approved the allocation of $1,668,800 in affordable housing funding. The funding will support the development of 66 new affordable units and preservation of 10 affordable units in the community. About 20 percent of the funded units will serve households earning 30 percent or less of the Area Median Income (AMI). Funded projects include:
Community Home Trust for critical foundation repair on an affordable duplex unit
EmPOWERment, Inc. for the acquisition of 8 Naturally Occurring Affordable Housing units on Davie Circle
Habitat for Humanity for acquisition of a parcel from the Northside Neighborhood Land Bank to build 12 for-sale townhomes
Residential Services Inc. (RSI) for the renovation of a single-family home into a 6-unit group home for intellectually and developmentally disabled adults
Taft-Mills Group and Community Home Trust to support the construction of 48 affordable apartments for seniors
The approval of this funding plan brings the Town’s investment in affordable housing to about $22 million over the last 5 years. That funding is supporting the development of nearly 400 units and the preservation of about 235 units.
