Charlotte City Council approves new plan for affordable housing

In all, there are seven projects that qualify to get a piece of the city’s housing trust fund.
Charlotte city leaders have approved a new plan to spend $12.4 million to build more affordable housing developments.
Published: Apr. 5, 2022 at 6:04 AM EDT|Updated: Apr. 5, 2022 at 6:59 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

CHARLOTTE, N.C. (WBTV) - Charlotte city leaders have approved a new plan to spend $12.4 million to build more affordable housing developments.

The approved support includes $9.4 million remaining in the city’s Housing Trust Fund from two $50 million bonds approved by voters in 2018 and 2020, and $3 million from the trust fund originally earmarked to support the Brookhill Village development.

Since then, nearly $219 million has helped provide nearly 11,000 affordable places to live and almost 900 shelter beds for the homeless.

In all, there are seven projects that qualify to get a piece of the city’s housing trust fund. If all make it through, it will create more than 600 affordable units, the majority of which are rental apartments.

In all, there are seven projects that could qualify to get a piece of the city’s housing trust fund.

One of the projects is the Forest Park Apartments, which would be in southwest Charlotte. It will get $2.5 million from the housing trust fund and create 200 apartments. Rent would range from $420 a month up to $1,075, depending on an individual’s income and family size.

Another project will be geared toward seniors. Mallard Creek will be in northeast Charlotte and would provide 102 affordable apartments to lower-income senior citizens. It will take up nearly $3 million from the trust fund.

The only project geared toward homeowners is in east Charlotte. Habitat for Humanity would build the East Lane Townhomes on land off East Lane Drive that David Brooks, of Brooks Sandwich House, donated. The 17 townhomes will sell for $240,000 each.

Although these projects will certainly help, city council members say it still isn’t enough.

“If there’s anything we can do as a city to increase affordable housing. There’s a crisis, there’s a real crisis. People can’t not afford to live here and it’s getting worse,” city councilmember Renee Johnson said during Monday’s Charlotte City Council meeting.

If all the projects make it through, then it would deplete the housing trust fund; however, the city is expected to ask voters for more money in November’s elections.

Copyright 2022 WBTV. All rights reserved.