In August 2025, the Maddry Meadows affordable housing project in Chapel Hill received a 2025 9% Low-Income Housing Tax Credit (LIHTC) award from the North Carolina Housing Finance Agency. DHIC, Inc. is the developer for the project, which is located at 2510 Homestead Road. The LIHTC award will bring more than $11 million in tax credit equity and $2 million in state housing loans to the project. The Town committed an additional $1.25 million to the project from the local Affordable Housing Funding Program.
The Maddry Meadows project will include 53 affordable units for low-income senior households earning less than 60% of the Area Median Income, or about $50,000 to $60,000 per year depending on household size. Now that DHIC has secured funding, they will pursue the permits needed to break ground and expect to complete the project by Winter 2028.
“Several years ago, the Town starting building a pipeline of projects that could take advantage of this very competitive annual funding source,” says Sarah Viñas, Director of Affordable Housing and Community Connections. “We are very proud for a Chapel Hill project to receive this award for the fourth consecutive year. DHIC continues to serve as a regional leader on affordable housing and we look forward to partnering with such a strong organization again through this project!”
