Urban areas throughout North Carolina have taken the initiative to address and add affordable housing options to their housing stock. The various cities have approached projects differently and achieved measurable results. Each solution shared in public and private leadership, acknowledging the need and then championing specific projects that will create diversified options for their communities. Our local governments can learn and benefit from their progress.
Below are a few examples of initiatives to increase affordable housing; it is worth noting that the projects required public and private – both non-profit and for profit – partnerships and resources. Local governments, with the support of concerned citizens, have lead the way by increasing resources available for working families to purchase or rent safe, decent, housing in a neighborhood that provides access to jobs, schools and other opportunities. At the same time, they’ve come together to preserve existing affordable housing for residents by funding housing rehabilitation and repair programs.
Durham, N.C.
Penny for Housing
Southside Revitalization Project
Durham’s City Council dedicated a penny of the city’s property tax for affordable housing. As a result, the city has been able to leverage other partners in a large-scale revitalization of the Southside neighborhood. Among the many partners are Duke University, Self Help Credit Union, North Carolina Housing Finance Agency, and private equity investors. The Southside Revitalization Project encompasses 125 acres located between downtown Durham and North Carolina Central University. The site had the lowest homeownership rate and the highest concentration of vacant housing of any neighborhood in Durham. The objective of the revitalization strategy for Southside is to attract long-term private investment. The Southside revitalization strategy has four major components:
YMCA Eyes Growth With Plans For New, Expanded Facilities
Emma Dill
-
Apr 23, 2024
|
|
Burns, Redenbaugh Promoted At Coastal Horizons
Staff Reports
-
Apr 23, 2024
|
|
Cold Storage Developer Sets Near-port Facility Completion Date
Audrey Elsberry
-
Apr 24, 2024
|
|
Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm
Audrey Elsberry
-
Apr 24, 2024
|
|
Krug Joins Infinity Acupuncture
Staff Reports
-
Apr 23, 2024
|
With millions in committed funding from New Hanover County and the New Hanover Community Endowment, along with a land donation from the city...
W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...
“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.