Looking for affordable housing? Here are 10 projects in the pipeline for the Triangle
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Perspective: This roundup of affordable housing projects across the greater Triangle is part of The N&O’s ongoing coverage of the growing gap between wages and housing costs in the region.
The latest update: As the Triangle faces a growing housing affordability crisis, dozens of projects are under construction or in the pipeline.
What else do you want to know? Email Chantal Allam at callam@newsobserver.com
Wake County has an affordable housing deficit of 65,860 units by its own estimates.
In Durham County, only 38 affordable rental units are available for every 100 households earning less than 30% of the area median income (AMI) — around $24,300 — according to the city.
And while the region faces a growing housing affordability crisis, officials are working to fill the gap.
In 2019, Durham voters overwhelmingly approved the city’s $95 million affordable housing bond. A year later, Raleigh passed a similar $80 million affordable housing bond. The city has also helped launch its own land trust.
Here’s a look at some of the affordable housing projects in the pipeline for Raleigh, Durham and Chapel Hill. This list does not include every project.
New Bern Crossing
Location: 3600 New Bern Avenue, Raleigh
Developer: Harmony Housing Affordable Development Inc.
What’s planned: A 192-unit affordable housing rental community, including 40 project-based rental assistance units supporting individuals and families at risk of homelessness.
Timeline: The $51.2 million project broke ground in February and is expected to be delivered in 2026, CBS17.com first reported.
Rates: The leases are reserved for household incomes that range from 30% to 60% of the area median income. That’s around $25,710 to $51,420 for an individual and $36,690 to $73,380 for a family of four, according to the city’s website. However, leases are not yet finalized, Frances Del Valler, Harmony’s spokesperson, told The N&O.
Funding: In addition to the city’s $4.25 million, funding sources include Regions Bank LIHTC Equity ($15.4 million), Regions Bank - Freddie TEL ($24.3 million) and Wake County American Rescue Plan Act ($4.15 million).
Of note: It’s located right off the city of Raleigh’s planned first bus rapid transit route, with access to public transportation and other resources.
Moore Square East
Location: 1.16 acres at the corner of East Martin and South Bloodworth streets, Raleigh
Developer: Harmony Housing Affordable Development and Loden Properties
What’s planned: This $56.8 million development will be a five-over-two podium structure.
Phase one will focus on building 160 affordable housing units on 16 parcels east of Moore Square. Subsequent phases include constructing a 160-room hotel, a grocery store, retail, dining spaces and a new building for Raleigh Rescue Mission.
The south site will feature a boutique hotel and coworking spaces.
Timeline: The project is expected to start in September 2025, the Triangle Business Journal reported.
The affordable housing is expected for late 2027. The hotel is expected for fall 2028. The remaining east site is expected in 2029.
Rates: There will be 24 units offered at 30% AMI (around $36,690 ), 32 units at 50% (around $61,150), 72 units at 60% AMI (around $73,380 and 32 units at 80% AMI (around $97, 840). Note: All estimates are for a family of four.
Funding: The city has approved a ground lease with Harmony Housing for $10 annually, allowing the option to purchase the land after 18 months.
Of note: It’s part of the city’s plan to revitalize the neighborhood amid a spike in crime and homelessness.
Hope Village at Method
Location: 601 Method Rd., west Raleigh
Developer: The Hope Center at Pullen and local nonprofit CASA.
What’s planned: A 10-unit apartment building targeting young people transitioning out of foster care and an extension of the center’s existing transition programs.
It will include nine one-bedroom units and an office. Each 600-square-foot apartment will come with a kitchen, living room, bedroom and bathroom. Shared laundry facilities will be on site.
Timeline: The $2.8 million project broke ground in July. It’s expected to be complete by summer late 2025.
Rates: CASA will lease and maintain the building. The center will refer clients from its transition program for ages 18 to 25.
It will target individuals and families making less than 30% AMI. That’s around $23,800 to $34,000 annually for an individual. It will also provide on-site case management and support services.
Residents can pay with housing vouchers from the federal government’s Fostering Youth Independence Initiative.
Funding: Sources include federal funds from Wake County’s $12.6 million package.
Of note: There’s still a funding gap of about $100,000. To contribute, contact Emma Doss at CASA: edoss@casanc.org.
The Cottages of Idlewild
Location: 907 E. Lane St., east Raleigh
Developer: Raleigh Raised Development (RRD), Raleigh Area Land Trust (RALT), Haven Design | Build
Backstory: Five years in the making, it’s part of NCCU basketball coach LeVelle Moton’s vision to preserve his historically Black neighborhood.
What’s planned: The $8.3 million project will bring 18 affordable homes to 1.7 acres of city-owned land. Offerings include two and three bedrooms ranging from 1,206 to 1,439 square feet.
Timeline: The project is expected to break ground this summer and be delivered in 2026.
Rates: Cottages of Idlewild will feature four rental units for residents earning 50% to 80% AMI. That’s around $41,850 to $68,560 for an individual and around $61,150 to $97,840 for a family of four, according to the city’s website.
They’ve also earmarked 14 for-sale homes for first-time homebuyers at or below 60% AMI (around $51,420 for an individual and around $73,380 for a family of four).
Funding: Sources include NC Realtors Housing Foundation, Wells Fargo Foundation, and Coastal Credit Union Foundation.
Of note: Buyers must agree to its community land trust model. Under the deal, the trust retains permanent ownership of the land. Buyers, in turn, lease the land at a nominal rate — around $50 a month — for a term of 99 years, and pay reduced property taxes.
East College Park
Location: The neighborhood is east of downtown, bordered by New Bern and Oakwood avenues and Raleigh Boulevard. It’s within minutes of WakeMed, Enloe High School, St. Augustine’s University and downtown.
Developer: City of Raleigh
What’s planned: The $17 million for-sale community project includes 98 single-family homes and 51 townhome units with 60% buyer income-restricted homes and 40% of the homes with no buyer income restriction.
Timeline: In December 2017, construction started in the East College Park Neighborhood. This is a two-phase project with single-family homes being built first and townhomes being built last.
To date, 91 homes have been built and sold to first-time homebuyers, said Erika Brandt, the city’s assistant director.
The townhouse phase is still in the preparation stage, she added.
Rates: Roughly 60% of the homes must be sold to households with incomes that are below the 80% AMI. That’s around $68,560 for an individual and around $97,840 for a family of four, according to the city’s website.
Funding: Investment includes subsidies to low-income homebuyers and funds invested in acquisitions and infrastructure.
Of note: Homeowners are required to use the home as a primary residence and will be subject to a 10-year deed restriction.
Duplex Village
Location: 1902 New Bern Ave., along the future bus-rapid-transit route planned for New Bern Avenue.
Developer: City of Raleigh
What’s planned: A “significant” number of affordable rental units, according to the city’s website. However, exact plans have not yet been revealed.
Timeline: The city purchased four acres on the eastern half of Duplex Village, built in 1949. It included 24 of 66 duplex units on the site.
The site is in the final stages of demolition and a request for proposal, which is used in soliciting bids, will be issued later this year, Brandt said.
Austin-based Artesia Real Estate Investments will retain the western part of the property.
Edgemont
Location: Four lots at 104 N. Blacknall St., 1401 E. Main St., 1411 E. Main St. and 105 N. Goley St., less than two miles from downtown Durham.
Developer: Habitat for Humanity of Durham
What’s planned: Habitat plans to build a mix of seven single- and two-story for-sale homes across the lots.
The lots at 1401 E. Main and 104 N. Blacknall streets will be subdivided for a total of five homes, each with three bedrooms and two-and-a-half baths.
Timeline: Habitat bought the parcels, ranging from 0.17 acres to 0.21 acres, for about $300,000 from the Durham Housing Authority, according to a deed filed May 30. Construction is expected to begin later this year.
Rates: Habitat serves people who typically earn 50% to 80% AMI. In Durham, that’s around $35,400 to $56,650 for an individual and $50,550 to $80,900 for a family of four.
Funding: Homes typically sell for around $170,000.
Main and Liberty Streets
Location: 519 E. Main Street
The project will replace Oldham Towers and Liberty Street Apartments.
The properties, built in the late 1960s and early 1970s, had 214 units.
Developer: Durham Housing Authority, Laurel Street Residential
What’s planned: The $186 million, four-phase project will build 555 units on 14 acres bounded by Main, Liberty, Elizabeth and Dillard streets.
That includes 331 affordable and 224 market-rate units.
Other amenities include a park, playgrounds, a community center and new commercial space along Main Street.
Timeline: Demolition of 26 existing units along Commerce Street completed in December 2023.
The first phase, the 72-unit Elizabeth Street Apartments, broke ground in May 2023 and is expected to be complete by late 2024.
The second phase, 172-unit Commerce Street Apartments, began in July and is expected to be completed by mid 2026.
Rates: The project will be a mixture of units at 30% to 80% AMI. In Durham, that’s around $21,250 to $56,650 for an individual and $30,350 to $80,900 for a family of four.
Funding: The project is the first development supported by the $40 million Choice Neighborhoods Initiative Grant from the U.S. Housing and Urban Development awarded to DHA and the City in September 2022. It will be supplemented by local dollars to cover the project’s total cost, the city has said.
Longleaf Trace
Location: 1708-1712 Legion Road, Chapel Hill
Developer: Taft Mills Group, Community Home Trust
What’s planned: 48 to 60 affordable apartments for adults ages 55 and up, with a parking lot
Amenities include walking trail and an integrated clubhouse, featuring a community room, kitchenette, fitness room, reading areas and a computer center
Timeline: The project is pending tax credit funding, according to Community Home Trust’s website.
Rates: The units will target people who typically earn less than 60% AMI. In Chapel Hill, that’s around $35,400 for an individual and $50,550 for a family of four.
The Legion Property
Location: 1714 Legion Road, Chapel Hill
Developer: Town of Chapel Hill and DHIC. Inc
What’s planned: 160 affordable housing units
Timeline: The town purchased the 36.2-acre parcel from American Legion Post 6 in March 2017.
Town staff are working with engineer consultants after the Town Council approved site plans in December 2022.
It’s expected to take until at least early 2025, the town said on its website.
Rates: The units will target people who typically earn less than 60% AMI. In Chapel Hill, that’s around $35,400 for an individual and $50,550 for a family of four.
Mary Helen Moore, Tammy Grubb and Anna Roman contributed to this report.
In the Spotlight designates ongoing topics of high interest that are driven by The News & Observer’s focus on accountability reporting.
This story was originally published August 3, 2024 at 7:00 AM with the headline "Looking for affordable housing? Here are 10 projects in the pipeline for the Triangle."
