Stepping up its efforts to tackle the housing affordability crisis, Raleigh City Council has sealed the deal with Habitat for Humanity of Wake County, approving the sale of city-owned land intended for low-income housing development. As per the agreement, two parcels located at 24 and 428 S. Bloodworth Street will be purchased by Habitat Wake for $200,000, paving the way for the construction of four affordable homes aimed at assisting first-time homebuyers.
Emphasizing a long-term commitment, Habitat Wake promises to keep the homes within reach of individuals earning up to 60% and 80% of the Area Median Income (AMI) for an extensive 99-year period, as reported by the City of Raleigh. The initiative is designed to bolster the stability and longevity of affordable housing options in the region, potentially aiding generations of residents.
Moreover, this isn't the first time the City Council has demonstrated its dedication to affordable housing. Last year, in December 2023, the Council made a symbolic gesture by selling another piece of land to Habitat Wake for a solitary dollar. This pattern of sales reflects an ongoing strategy to expand the affordable housing stock in Raleigh in meaningful ways.
The latest approval by the Council is consequential as it echoes the city's stance regarding the affordable housing issues grappling the area. "This project will help more people achieve their dream of owning a home and building a better life for themselves and their families," a statement said.
