Raleigh's New Affordable Housing Projects

0:00Raleigh just greenlit five new apartment projects, adding nearly 500 affordable homes to the mix. This is all part of the city's, a home for every neighbor plan, aiming to tackle housing costs and homelessness through 2026 to 20. 30. These spots are scattered around town southeast Raleigh, near Wake Med, west of New Hope Road, south of downtown by Dorothea Dicks Park and close to NC, state Centennial Campus. Many planners picked them for easy access to buses, groceries and clinics. Rents will range from 400 to $2,000 a month, scale to local median incomes like 93,000 for singles or one, 133,000 for families of four. Three sites target seniors, with one and two bedroom units, while the others offer up to three bedrooms for families. That's a steal compared to the average $1,376 one bedroom on the market. The city is kicking in $9.9 million through its affordable rental development program.

1:00Since 2016, they've created or saved over 5,700 units, with another 2,600 in the pipeline amid Wake. County 65,000 units shortage. Expect groundbreaking in 12 to 18 months, then about two more years of building. This push could ease the squeeze for folks on fixed incomes or starting out, keeping Raleigh growing without leaving neighbors behind. You've been listening to Durham News today, AI-powered local news.