Charlotte city council has approved the use of $5,362,000 from the Housing Development Fund to build 159 affordable housing units – the first time these fee-in-lieu funds have been allocated to support affordable housing developments.
Units are spread across the following developments:
Mallard at Sugar Creek: $2.64 million
- 60 affordable units
- Developer: NHE, Inc.
Grounds for Change: $2 million – Developer: DreamKey Partners
- Council previously awarded the project $4,500,000 on Nov. 28, 2022
Legacy Vista: $456,000 – Developer: Habitat for Humanity
Little’s Landing is also a homeownership development by Habitat for Humanity. Located at Polk and White Road in Council District 4, it has been allocated $266,000 for seven units. ]
The awards to Mallard at Sugar Creek and Grounds for Change are contingent upon developers receiving a low-income tax credit award from the North Carolina Housing Finance Agency.
Also for the first time, council approved spending up to $3 million from the Transit Oriented Development (TOD) Affordable Housing Development Bonus Program. Funding will be allocated to Give Impact, LLC to support the acquisition of ~1.8 acres located at 140 Dorton Street to develop affordable housing.
The program allows developers to increase building heights in their community along transit corridors if they agree to provide affordable housing on site or pay a fee-in-lieu to support future affordable housing communities.