Title
Purchase of Property on Catherine Simmons Avenue for Affordable Housing
Action
Action:
A. Approve the purchase of property on Catherine Simmons Avenue (parcel identification number 075-025-09), comprising three existing single-family rental units, at a cost of $465,000, for the purpose of providing affordable housing opportunities, and
B. Authorize the City Manager, or his designee, to negotiate and execute any documents necessary to complete this transaction.
Body
Staff Resource(s):
Rebecca Hefner, Housing and Neighborhood Services
Warren Wooten, Housing and Neighborhood Services
Explanation
* Catherine Simmons Avenue sits at the heart of the Lincoln Heights neighborhood in the Beatties Ford Road Corridor of Opportunity in Council District 2. While strategic community assets and opportunities exist, the area has also experienced challenges including public safety issues, community appearance issues, and homelessness.
* The city and Mecklenburg County are collaborating on a community-focused initiative that seeks to reduce crime, address homelessness, and foster equitable, community-driven development that strengthens safety, housing stability, and opportunity for residents.
* The acquisition of three existing single-family rental units on approximately 0.3 acres on Catherine Simmons Avenue (parcel identification number 075-025-09) (Property), will allow the city to take a proactive role in helping stabilize the community through improving the Property while preserving naturally occurring affordable housing, and ensuring that the Property is stewarded by a community-based organization that aligns with neighborhood goals and priorities.
* The Property includes three brick rental units, which were built in 1962. Each unit has two bedrooms, one bathroom, and approximately 700 square feet of living space.
* Following acquisition of the Property, the city will renovate each unit and, upon completion, transfer the property to an approved non-profit partne...
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