North Charlotte Today

Charlotte City Council has taken a significant step towards supporting affordable housing by extending ground lease options for two city-owned properties. The first extension is with CSE Communities, LLC for the Evoke Living at Ballantyne project. The lease, now valid through June 30, 2024, will pave the way for the development of 60 affordable housing units on a 3.37-acre site near the Charlotte-Mecklenburg Police Department's south division.

According to Council Member Johnson, "This extension will help create much-needed affordable housing units in our city. By utilizing city-owned land, we can ensure that these units are accessible to individuals and families with various income levels."

The units in the Evoke Living at Ballantyne project will cater to households earning at or below 30%, 60%, and 80% of the Area Median Income. The project has received a funding of $3.1 million from the Housing Trust Fund. Its strategic location at Providence Road West and Ballancroft Parkway will provide easy access to essential amenities, job opportunities, and educational facilities in a high-demand area.

In addition to the Evoke Living project, the City Council has also granted a 99-year ground lease option to Merit AH, LLC for the development of "The Merit Apartments." This affordable housing project will consist of 68 rental units on a 1.73-acre parcel of city-owned land at 7605 University City Boulevard. The lease terms include an affordability period of 99 years and a rent of $1.00 per year.

According to Council Member Smith, "The Merit Apartments project will contribute significantly to addressing the shortage of affordable housing in our city. The long-term ground lease option provides stability and ensures that these units remain affordable for generations to come."

The Merit Apartments will include a mix of housing units to accommodate different income levels. It will consist of 17 units for households earning ≤30% of the Area Median Income, 19 units for households earning 31-50% of AMI, 16 units for those earning 51-60% of AMI, and 16 units for households with incomes between 61-80% of AMI.

These strategic partnerships and lease agreements highlight the city's commitment to addressing the pressing need for affordable housing. By utilizing city-owned land and extending lease options, Charlotte City Council is taking proactive steps to ensure that individuals and families from various income levels have access to affordable housing in desirable locations.

The city's efforts are aligned with the goals of the Housing Trust Fund and demonstrate a dedication to creating a more inclusive and equitable community. As Council Member Johnson stated, "We recognize the importance of affordable housing in fostering a thriving and sustainable city. These ground lease agreements are a testament to our commitment towards achieving this goal."