Title
Affordable Housing Development Support Requests
Action
Action:
A. Approve up to $13,712,000 in Housing Trust Fund allocations for the following affordable housing developments contingent upon their receiving a Low-Income Housing Tax Credit award from the North Carolina Housing Finance Agency, where applicable:
- Kendall Crossing Apartments, $4,975,000 (four percent Low-Income Housing Tax Credit) in Council District 3,
- River District Apartments, $900,000 (non- Low-Income Housing Tax Credit) in Council District 3,
- Weddington Road Apartments, $3,990,000 (four percent Low-Income Housing Tax Credit) in Council District 7,
- Aveline at Newell Townhomes, $702,000 (Homeownership) in Council District 4,
- Unity Oaks, $1,395,000 (Homeownership) in Council District 4,
- Ellington Townhomes, $1,750,000 (Homeownership) in Council District 1,
B. Approve up to $2,000,000 in Housing Trust Fund allocations for the Dream Center Campus (Transitional Housing) in Council District 1,
C. Approve up to $4,250,000 in Housing Trust Fund allocations for the Mecklenburg County hotel conversion (Non-Congregate Shelter) in Council District 2, and
D. Authorize the City Manager or his designee to execute, amend, modify, and renew contracts and other required documents to complete the transactions.
Body
Staff Resource(s):
Rebecca Hefner, Housing and Neighborhood Services
Warren Wooten, Housing and Neighborhood Services
Michael Englehart, Housing and Neighborhood Services
Explanation
§ On June 13, 2025, the city issued a Housing Development Funding Request for Proposals (RFP) to aid in the production of affordable housing units. This is the second RFP since Council’s adoption of the Affordable Housing Funding Policy.
§ In response to the RFP, eight proposals were received seeking various types of gap financing support including four percent tax credits from the North Carolina Housing Finance Agency (NCHFA). Three of the proposals (River District Apartments, Weddington Road Apartments, and Aveline at Newell Townhomes) have existing Housing Trust Fund commitments and are requesting additional city support to help cover new financing gaps.
§ Approval of the recommended Housing Trust Fund allocations will add 272 affordable and workforce rental housing units, 120 affordable homeownership units, and 70 transitional housing units and shelter beds to the city’s existing supply.
§ The recommended developments meet all submission requirements, including land use and rezoning approvals where applicable. Additionally, the evaluation process included assessing the proposals for alignment with Council policies, goals, and priorities including the Affordable Housing Funding Policy, ensuring developer experience, achieving long-term affordability, creating mixed-income opportunities in areas of opportunity, and maximizing the leverage of available resources.
§ The NCHFA will base their final tax credit awards on variables such as market demand and local housing needs, ability to serve qualified residents for the longest affordability period, design and quality of construction, and financial structure and long-term viability.
City Council Discussion
§ The Housing, Safety and Community Committee received a briefing at its October 6, 2025, Committee meeting.
§ City Council received staff funding recommendations including Housing Trust Fund allocations at their October 6, 2025, meeting, and received follow-up information on the supportive housing proposals at their October 13, 2025, meeting.
Charlotte Business INClusion
All Housing Trust Fund funded housing projects and their developers are subject to MWSBE goals determined based on the amount of city funding allocation received.
Fiscal Note
Funding: Housing Trust Fund
Attachments
Attachment(s)
October 6, 2025, Council Presentation
October 13, 2025, Council Presentation