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Charlotte affordable housing projects approved using more than $17 million in public funds



CHARLOTTE, N.C. (QUEEN CITY NEWS) — More than $17 million worth of affordable housing is coming to Charlotte after two separate City Council votes Monday night. 

Council approved $13.1 million in city Housing Trust Fund allocations for six developments, and $4.3 million in federal funds. Both sources are contingent on the projects receiving a state Low Income Housing Tax Credit. Both votes passed 7-3, with Tariq Bokhari, Victoria Watlington and LaWana Mayfield opposing. 

Here are the approved projects

  • Arrowood Homes, 7202 South Blvd., $2.5 million local, $3 million federal 
  • Aveline Legacy Druid Hills Duets II, throughout Druid Hills neighborhood, $462,000 local 
  • Central at Old Concord, 5703 N. Tryon St., $4.2 local 
  • Kings on Lamar, 323 Lamar Ave., $2.4 million local 
  • Swan Run Apartments, 4600 Swan Meadow Lane, $2.4 million (naturally occurring affordable housing) 
  • Sycamore Station II, 6010 Calle Lumina Way, $1.2 million local, $500,000 federal 
  • Mount Moriah Seniors, 489 Crestdale Road, $825,000 federal 

The multi-family Arrowood Homes project will be leased on city-owned property near the Arrowood Blue Line Station. 

Swan Run, south of the Olde Providence area, is an existing multi-family development that will be renovated. It will create long-term rental subsidies for households at 30 percent of the Area Median Income. 

These developments will add 716 affordable long-term deed restricted rental housing units and 14 affordable homeownership units to the city’s existing supply.  With the passage of the developments, the Housing Trust Fund balance is $8,946,000.

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