Charlotte City Council approves $20M for affordable housing
All of this housing is set to be completed by late 2025.
CHARLOTTE, N.C. (WBTV) - Charlotte City Council took a step towards more affordable housing in the city Monday night.
At their most recent council meeting, they approved $20 million to go towards housing projects to benefit those who are considered low-income. They say the money could add nearly 600 new affordable units.
It’ll be spread among a handful of townhomes and apartment complexes across the Charlotte area. All of this housing is set to be completed by late 2025.
While one council member, Tariq Bokhari, voted against the proposal, most members agreed this would help combat current issues like resource restraints for developers.
Shawn Heath, who worked through each funding request as a Charlotte Neighborhood Services Director, suggests the move is a step forward.
“Certainly, the size of the challenge is quite large but over 600 units is a meaningful way to start chipping away at it,” he told WBTV.
Council also considered adding another 1.7 million for another development Monday night, though that was ultimately not voted on. Council said funding for that project could be revisited in the future.
As for those now receiving this extra money, they still has to go through financial closings, design, permits and construction before being fully built.
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