Council members will consider approving multiple incentives for projects at 11 Collier Avenue and 2 Restaurant Court. The first would receive a Land Use Incentive Grant of more than $383,000, while the second would get a LUIG of more than $289,000, as well as a $1 million loan from the city’s Housing Trust Fund.
“Unless you are using the city and county tools and financing from either the city’s housing trust fund, the county’s affordable housing fund or some kind of funds from a taxpayer project,” real estate developer Kirk Booth told around 40 people at the Council of Independent Business Owners’ Dec. 6 breakfast meeting, “it’s not going to happen.”
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.
