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What Does Affordable Housing Look Like in Chatham County?

A van tour on May 29 visited several affordable housing sites

Post Date:05/30/2018 3:46 PM

NEWS RELEASE FROM TRIANGLE J COUNCIL OF GOVERNMENTS:

Durham, NC., May 30, 2018 - The Chatham County Affordable Housing Van Tour kicked off Tuesday afternoon at the Chatham County Agricultural Center with representatives from the public, private and non-private sectors in attendance. The event, organized by Triangle J Council of Governments, highlighted affordable housing sites, progress being made by the Chatham County Affordable Housing Advisory Committee and continuing housing needs for both renters and homeowners in the County.

"While homeownership is important, providing rental housing is also key to providing more affordable housing", Jerry Whortan, executive director of Chatham Habitat for Humanity, said to the group. "You must address the affordable housing problem by increasing both homeownership and rental opportunities". The tour featured a range of affordable housing sites that leveraged creative strategies for financing and public-private partnerships.

Bellemont Pointe Apartments in Pittsboro

This 76-unit development was financed by Low-Income Housing Tax Credits (LIHTC), a subsidy funded by private equity that allows housing to be build for low and moderate income families (making up to 60% Area Median Income (AMI)). Bellemont Pointe also utilized US Department of Agriculture funds to further subsidize the project, allowing the site to serve households at 30% AMI. Rents are between $507 and $707 a month. 

NOTE: The Bellemonte Point waiting list has 160 households on it, and only roughly 7 units turn over a year. 

 

 Bellmonte Pointe

Chatham Habitat for Humanity Sites
in Pittsboro and Siler City

Chatham Habitat for Humanity is one of the largest affordable housing providers within the County. Chatham Habitat is currently constructing homes on 28 acres near downtown Pittsboro and recently completed several new homes in Siler City (left). Mr. Whortan pointed out solar panels on one of the homes, explaining that this addition provides roughly $500 in utility savings annually. Chatham Habitat hopes to install solar panels on every home it builds, if possible.

 

 habitat houses

The Henry Siler School

In 2017, Chatham County issued an RFP for affordable housing redevelopment of the Henry Siler School property - a vacant +2 acre lot - and the Town of Siler City rezoned to a higher-density to allow for more units. Third Wave Housing, LLC is proposing to renovate the school into 10 loft-style apartments and build an additional 34 units on the property. The project will be affordable to households up to 60% AMI. There will be 22 1-bedroom rental units between $355-$575, and 22 2-bedroom rental units between $423-$675. 
 
   NOTE:  In addition to providing the property, the County is providing a $120,000 soft loan to Third Wave Housing, pending a successful application with the NC Housing Finance agency resulting in allocation of 9% LIHTC. 

henry siler school developer

 

(

NOTE:  The group also visited a mobile home park in Siler City. Mobile homes represent about 14% of all housing units in Chatham.)

 

 

Chatham County's Affordable Housing Priority

In September 2017, the Chatham County Board of Commissioners relaunched the Chatham County Affordable Housing Advisory Committee which consists of representatives from Goldston, Pittsboro and Siler City, and County residents. The committee makes recommendations for housing programs and policies and help implement the Chatham County Affordable Housing Strategy Toolbox to address housing challenges for cost-burdened renter households.

FIND OUT MORE:  Find more information about affordable housing resources in Chatham County here.

About Triangle J Council of Governments

TJCOG is a key player in regional planning that spans cross-jurisdictional boundaries, including transportation investment, development/land use coordination, quality and quantity of the region’s limited water resources, energy & environment, and economic development. Additionally, the organization houses the Area Agency on Aging, which oversees county aging initiatives and serves as a central source of information for older adults and their caregivers.






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