County Solicits Developers’ Affordable Housing Proposals

By Staff Reports, posted Jul 18, 2022

New Hanover County is asking for-profit and nonprofit developers or agencies to submit proposals pursuant to potential affordable and workforce housing projects. 

Earlier this year, the Board of Commissioners approved a new budget initiative that went into effect earlier this month, adding four new dedicated positions and committing $15 million over a five-year period to address affordable housing. 

The county pledged to spend at least $3 million annually to address the problem. 

An initial framework informed by a local needs study and survey will guide the county’s eligibility criteria, according to a county news release issued Monday. 

“With this Workforce Housing Services Program, we can be intentional with the county’s funding and really evaluate the needs of the community. The county will be able to fund the projects and programs that can have a meaningful impact now for our residents and also adapt the program and investments as market conditions change,” senior long-range planner Rachel LaCoe said in a release. “This is an important commitment by the Board of Commissioners, and the county will be working to leverage this local funding with that of the private sector to create even more affordable housing opportunities over the coming years.”

The initial goals of the program are to increase the supply of affordable housing units, retain existable affordable housing stock and increase residents’ access to those homes, according to the county release. 

Eligible projects being solicited include construction of new single- or multifamly housing units, conversion of rehabilitation work of existing units, down payment or rental assistance and emergency repair services, according to the request for proposals. Among the criteria considered, financial feasibility is the most valued category. Other priorities include the ability to break ground before July 2023, an emphasis on the number of new units, a range of price points, a period of affordability that exceeds 15 years, accepting housing choice vouchers and targeting an average median income of 80%. 

"Strong preference will be based on the ability to create an immediate impact to New Hanover County residents," the proposal states.

The county opened its request for proposals period on Monday, which will close on Aug. 8 at 5 p.m. Funding recommendations are expected to be reviewed in October. 

Ico insights


Headshotrosaliecalarco 1182131047

Beware of Social Media Scams

Junegunter teachinghorse headshot 5721115557

What Is Next?

June Gunter - TeachingHorse
Web awstaffpic2020 1 132245438

The Luncheon for Literacy: More than a Meal

Alesha Edison Westbrook - Cape Fear Literacy Council

Trending News

Murchison Building Downtown Sold For $8.25M

Johanna F. Still - Aug 12, 2022

With Home Sales Down In July, Realtors Struggle To Choose 'sweet Spot' Prices

Cece Nunn - Aug 12, 2022

Local Film Projects Building Sizeable Spend; New TV Series Announced For September

Jenny Callison - Aug 12, 2022

In The Current Issue

Film Focus: Printing The Scene

Port City Signs & Graphics "does everything for their set in the way of decals, magnets, backdrop items, canvas art, vehicle graphics and se...

Film On Rebound; New Horse Enters Race

New soundstages in Wilmington are set to be constructed toward the end of the year – marking activity that appears hasn’t happened since the...

Stacking The (parking) Deck

The amount and cost of parking in urban settings is a ubiquitous topic, particularly in growing cities like Wilmington, where not everyone a...

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100