​Project History

The County partnered with the Development Finance Initiative (DFI) at UNC Chapel Hill’s School of Government in September 2022 to help meet the goal to deliver at least 1,500 affordable rental units for low- and moderate-income households by 2030.  DFI partners with communities to attract private investment for projects by providing specialized finance and real estate development expertise. Following a feasibility study, DFI is now conducting a site-specific pre-development process on the sites prioritized by the Commission. The goal for any development on these County-owned sites is the creation of residential units affordable to households earning less than 80% of the Area Median Income (AMI). DFI will also assist with application and negotiation, ensuring the public interests with qualified private development partners for each project.

 

The Sites

Valley Street Building Rendering

Coxe Avenue Building Rendering

Erwin Hills Building Rendering

These images represent a minimum of multifamily residential development possible on each site (limited by on-site parking). They do not include any design details. Future steps in the development process will refine density, complementary uses, building orientation and other details.

 

Upcoming Community Meetings: Defining the Public Interests of Each Site

Buncombe County, with DFI, is currently seeking a community input to define the public interests of each property. Community interests and concerns will ultimately drive DFI's process. This process includes one-on-one meetings with key parties, in-person, and virtual community meetings, as well as an online input form. The online survey will open on April 12 after the first community meeting for the downtown properties.

 

For example: 

  • Should the units serve specific populations?  
  • Is the goal to maximize number of units on the site even if the cost increases? Or should the development maximize units without substantially increasing cost?  
  • How should this building relate to the space around it?  
  • Are there preferred ground floor uses for Coxe Avenue that may differ for Erwin Hills?  

The County and DFI will then work with an architect to develop plans that meet the guiding public interests and are achievable within the physical and regulatory constraints of each site. DFI will evaluate the financial feasibility of each plan and identify how the County would need to participate in order to facilitate the private development of affordable housing and other community-defined uses. At the end of this process, the County will partner with qualified private developers whose plans will meet both community and private sector interests.

  •  

 

Next Steps & Future Community Feedback Opportunities

After the community meetings occur and feedback is collected by DFI, the County will select preferred scenarios for each site. Later, the community will have an opportunity to review potential development plans that emerge from this process and reflect on which, if any, best meet the guiding public interests. A second series of input sessions will be held in the summer of 2023. The County and DFI will then work with an architect to develop plans that meet the guiding public interests and are achievable within the physical and regulatory constraints of each site. DFI will evaluate the financial feasibility of each plan and identify how the County would need to participate in order to facilitate the private development of affordable housing and other community-defined uses. At the end of this process, the County will partner with qualified private developers whose plans will meet both community and private sector interests.

 

The graphic above outlines the continuous flow of community input and reflection on the public interests throughout the affordable housing development process. From initial community input sessions to contracting with private developers, the public interests inform each step.

 

To learn more about affordable housing in Buncombe County, visit our County website here.

 

 

Past Events

The community meetings listed below helped the County and DFI understand the specific public interests for each site and the context of their individual neighborhoods.  

 

 

Watch: Tapped In Episode: Housing Matters

with Buncombe County's Community Development Division Manager Matt Cable who shares more about affordable housing initiatives and how the community can get involved. 

Board of Commissioners Approve Process to Access Additional Opioid Settlement Funding, Advance Affordable Housing Study, & More

Click the image below to read the full article

Do You Qualify for Housing Services in Buncombe County?

Determining household income is the first step in qualifying for housing services. Many housing services use income caps, based on federal Area Median Income (AMI) data, to ensure they help people who need the most assistance. Click here to use our AMI Calculator to see if you qualify for the needed program.