On September 10, the Chapel Hill Town Council approved a funding plan that allocates $4,185,000 from the Affordable Housing Funding Program to support 194 affordable housing units. A portion of the funding plan includes the first allocation of the $15 million in 2024 bond funding that was dedicated to affordable housing and the remainder of a 2018 affordable housing bond.
Funding awards include:
$4 million to the Taft-Mills Group for Hillside Trace, a new construction project along the Town’s planned Bus Rapid Transit line that will bring 190 affordable apartments for households earning 60% or below the Area Median Income ($57,400 for a household of 4).
$185,000 to HOPE NC to support the acquisition of 4 units from Habitat for Humanity’s Weavers Grove Community to serve very low income adults with intellectual and developmental disabilities.
“Through this funding plan, we’re making substantial progress toward our goal of creating 900 affordable housing units in five years,” said Sarah Viñas, Director of Affordable Housing and Community Connections. “Bond funding we’ve received in recent years is a vital part of reaching this goal and setting an example for what affordable housing progress can look like.”
Town staff received and reviewed four project applications in this funding round, which totaled to $5.3 million. The next round of affordable housing funding will likely be released in winter 2026.
Affordable Housing Tracker
The Town just released a new, interactive Affordable Housing Tracker, which shows progress on Town affordable housing funding since the first bond allocations in 2020. Check out the tracker here and learn more about affordable housing projects at chapelhillaffordablehousing.org.
