Wake County is putting its money where its housing crisis is with an influx of nearly $18 million in investments that aim to create and preserve a total of 644 affordable homes across the region. Safiyah Jackson from the Wake County Board of Commissioners emphasized the investment's significance, “This is one of the largest affordable housing investments we’ve made in a single year,” according to the Wake County's announcement. The funding is set to benefit seniors, working families, and individuals on low or fixed incomes.
The investment triumphs over Wake County's annual target of 500 units, marking a noteworthy response to the escalating housing needs of its residents. It stems from the county's 2025 Affordable Housing Development Program. This initiative, which is fueled by a mixture of federal and local funds, will back both Low-Income Housing Tax Credit and non-tax credit housing endeavors.
The developments tapped for this investment span several demographics and needs within the community, casting a wide net of support in an increasingly tight housing market. The commitment rings particularly important as housing continues to be the foundation for a person's well-being, in terms of health, safety, and economic opportunity. Jackson's words underscore the broader benefits of such an investment, "When investing in our own neighbors, the seniors, working families and individuals who live right here in Wake County, we’re strengthening our entire community," as per the Wake County's announcement.
The financial backing will aid eight housing projects throughout Wake County, detailing the strategic expansion of affordable living spaces amidst skyrocketing real estate prices. While the county has been making strides in addressing the housing shortage crisis, these initiatives embody an even more aggressive effort to mitigate the consequences of economic disparity, in regards to safe and suitable housing prospects for those most in need.
