The Down Payment Assistance Policy could provide $1.4 million, in no-interest loans of up to $40,000 each, toward mortgages on single-family residences within Asheville city limits. The policy is meant to promote homeownership opportunities among “moderate- and lower-income families” making up to 120 percent of the area median income.
Due to construction cost increases that made rentals infeasible, the Kassinger Development Group proposed a for-sale condo plan. Of 64 total units, 33 would be affordable, with the city providing support through a $1.28 million Housing Trust Fund loan and a $375,000 discount on the land itself.
If trust is a function of time, an innovative approach to affordable housing may already be in trouble. On July 13, about 30 community stakeholders gathered in an echoey auditorium at the Dr. Wesley Grant Sr. Southside Center and took the first meandering steps toward establishing a community land trust. But the two-hour meeting produced […]
While 2016 statistics show increasing availability in the area’s rental housing market, Asheville renters say their choices remain limited and prices steep. Several city initiatives — including a $25 million affordable housing bond referendum approved by voters in November — aim to bolster the supply of affordable housing, while some private-sector players are pursuing similar goals.
The die is cast: a $74 million bond referendum will appear on Asheville voters’ General Election ballots in November. What uses has the city proposed for the money and, if the referendum passes, how will that spending affect different parts of the city?
On Tuesday, Feb. 23, City Council will consider strategies for housing the city’s growing population. Over $1 million in low-interest affordable housing loans will come to a Council vote, and city planning director Todd Okolichany will present a proposal for updating existing ordinances to encourage higher density infill development in residential areas.
On Tuesday, Jan. 26, City Council will take up the Ban the Box initiative for city hiring, potentially removing questions about an applicant’s past criminal history from the initial application form for certain positions. Council also will hear public comment on matters including reallocation of unused affordable housing development grant funds, an airport hotel and a controversial apartment complex proposed for Mills Gap Road.