Raleigh City Councilors Tuesday approved a funding request for a Southwest Raleigh affordable housing community during a special City Council meeting.
DHIC applied for joint venture funding from the city for a $750,000 loan, which was approved unanimously by the City Council after a neighborhood meeting and discussion during a special Comprehensive Planning Committee meeting.
The special meetings were held so that DHIC could meet state deadlines for tax credits that make the property financially viable.
More than 50 members of the community attended the meeting; it had to be moved to the City Council chambers from its original location in a conference room in order to accommodate everyone.
Affordable housing developer DHIC intends to build a 48-unit community at 2904 Tryon Road for families who make less than 60 percent of Raleigh’s average median income — about $45,000 a year for a family of four. The development will have one-, two- and three-bedroom apartments.
View Larger MapThe project came under fire by area residents, who said that this would be the fourth affordable housing property within a mile.
As with all affordable housing projects, the application was evaluated using the City’s Scatter Site Policy, which ranks areas of the city for affordable housing.
Areas with less affordable housing are ranked higher than areas with more.
While the DHIC project received a low score because of its location near other like communities, its overall score was high enough for city staff to consider it for funding.
Councilor Russ Stephenson said he thinks the project was evaluated correctly and that it is a higher-quality project that what the market would put on the same site.
The site’s zoning allows for residential projects, as well as office and retail uses.
DHIC, he said, also conducts more strict background checks of potential residents than the open market.
Councilors also asked that staff review the Scatter Site Policy and come back with recommendations about how it can be improved.
Residents’ concerns with parking, traffic and idling buses have been referred to the Public Works Committee for more discussion.
