Town staff released the Fiscal Year 2025 Affordable Housing Mid-Year Report on March 31, 2025. The report highlights the Town’s housing needs and provides updates on the Town’s key affordable housing activities as of December 2024.
Key highlights from the report for the period from July 1 – December 31, 2024 include:
The Town launched the $10 million Affordable Housing Loan Fund in partnership with Self-Help Ventures Fund and UNC Hospitals.
25 affordable rental units opened at 900 Willow at University Place.
Habitat for Humanity completed their Gattis Court project in the Northside Neighborhood and the first 9 units in their Weavers Grove project.
The Town funded the rehabilitation of 6 units owned by low-income homeowners.
The Longleaf Trace project received a 2024 Low-Income Housing Tax Credit award to support the development of 48 affordable units for low-income seniors.
For the remaining half of the fiscal year, staff will focus on reaching key milestones including the allocation of local affordable housing funding, the release of the first round of 2024 affordable housing bond funding, and moving toward groundbreaking on two development projects on Town-owned land.
