On April 23, the Chapel Hill Town Council approved the allocation of $1,335,000 from the Town’s local Affordable Housing Funding Program. The funding will support the development of 53 new affordable units and preservation of 4 affordable units in the community. About 25 percent of the funded units will serve households earning 30 percent or less of the Area Median Income (AMI).
Funding awards include:
$1,250,000 to DHIC to support the construction of 53 affordable apartments for seniors in the Maddry Meadows project.
$85,000 to EmPOWERment, Inc. for exterior renovations on 4 units in the Creekside Trail community (formerly University Gardens).
“Providing funding to support these projects advances the Town’s Affordable Housing Plan, creating new affordable rental housing opportunities for extremely low income people and preserving existing affordable housing in Chapel Hill,” says Sarah Vinas, Director of Affordable Housing and Community Connections. “We appreciate the ongoing commitment of our community partners, now more than ever, as we work together to address the region’s dire need for affordable housing.”
Town staff considered six funding requests totaling nearly $2.5 million in this funding round. The next round of local funding will be released this summer, which will include up to $3.5 million in funding from the 2024 bond referendum.
