Homeward Bound buys Short Michigan apartment housing

Press release from Homeward Bound of WNC:

In Buncombe County, more than 580 people experience homelessness on any given night. Homeward Bound, the leading organization working to end homelessness locally, has just reduced that number by purchasing apartments that will become “Home” for people who are homeless.

On Oct. 21, Homeward Bound closes on the multifamily property on Short Michigan Ave. which will now be called Key Commons. The acquisition and rehabilitation of the site are funded by the City of Asheville through a Housing Trust Fund loan, foundation support, a HUD grant, as well as a no interest loan and a gift from two anonymous donors. The project serves individuals living below 30% of annual median income (AMI) with significant case management needs.

The property has been generally neglected since 1995. Homeward Bound is renovating and upgrading the building which currently has 11 apartments. Three of the apartments will be split into six efficiency units resulting in an expansion that will house 14 people. Tenant rents will enable the Key Commons project to be financially self-sustaining.

In support of Homeward Bound, employees from Duke Energy will be landscaping the property on Wednesday, Oct. 23, from 9:00 am to 2:00 pm.

Homeward Bound of WNC is a social impact nonprofit working to end homelessness in Buncombe County. Homeward Bound’s methods are based on the national best practice model Housing First which involves moving people into permanent housing first and then providing the wrap around support services they need to stay there. With the support of the community, since 2006, Homeward Bound has found homes for more than 2072 people and 89% have not returned to homelessness. For more information, visit https://homewardboundwnc.org/.

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