North Charlotte Today

In a recent decision made during the April 22 business meeting, the City Council has approved significant funding for affordable housing initiatives in the region. The council allocated funds from the Housing Development Fund to support various housing developments aimed at providing affordable housing options to the community.

One of the approved allocations is for the Mallard at Sugar Creek development located at 6150 Mallard Creek Rd. This project, led by NHE, Inc., will provide a total of 60 affordable units with specific allocations for different income brackets. According to the announcement, "15 units reserved for those making 30% or less of the area median income (AMI), nine units for 50% AMI and below, and 36 units for 70% AMI and below."

Another supported project is the Grounds for Change development at 3420 Park Rd, which will offer a total of 80 units with affordability provisions for different income levels. DreamKey Partners is overseeing this project, which will "remain affordable for 70 years." The council has also approved additional funding for this development, building on a previous award granted in 2022.

Furthermore, the council has allocated funds for Legacy Vista and Little’s Landing, both homeownership developments by Habitat for Humanity. These projects aim to provide affordable housing options for residents in various income brackets, with specific resale restrictions and affordability criteria in place.

Additionally, the City Council's decision includes support for the Transit Oriented Development (TOD) Affordable Housing Development Bonus Program, marking the first time such funds have been allocated to aid affordable housing efforts in the region. The program allows developers to enhance building heights along transit corridors in exchange for providing affordable housing or contributing to future affordable housing initiatives.

The recent funding approvals by the City Council signify a commitment to addressing the ongoing need for affordable housing options in the community, reflecting a proactive approach towards ensuring housing accessibility for all residents.