Charlotte Takes Strong Steps Towards Affordable Housing

News Summary

Charlotte is grappling with an affordable housing crisis, prompting local nonprofits and churches to act. The Ascension Community Development Corporation has launched ‘The Legacy at Paw Creek,’ providing 89 new affordable homes. Collaboration through the Faith in Housing Initiative, along with a proposed doubling of the Housing Trust Fund, aims to combat this challenge and create sustainable housing solutions for moderate-income families in the city.

Charlotte Takes Strong Steps Towards Affordable Housing

In a bustling city like Charlotte, the dream of owning a home is slipping away for many families. However, a growing coalition of nonprofits and local churches is stepping up to tackle this urgent affordable housing crisis. Exciting developments are underway, aimed at making homeownership a reality for those in moderate-income brackets, such as teachers, first responders, and healthcare workers.

New Nonprofit on the Block

A newcomer to the scene is the Ascension Community Development Corporation, which is on a mission to bridge the housing gap in Charlotte. This organization recently completed its first land purchase on Freedom Drive to launch a community named The Legacy at Paw Creek. This project will provide much-needed affordable townhomes, duplexes, and triplexes, bringing a total of 89 new homes to the area. The initiative is receiving support from influential local leaders, underscoring its importance in the community’s future.

To maintain the sustainability of these initiatives, Ascension plans to offset the financial challenges associated with affordable homes by developing market-rate properties. The key is to create housing that looks and feels the same, whether it’s affordable or market-rate, so that no distinctions need to be made.

Community Collaboration

But Ascension isn’t the only player in town. Charlotte’s faith communities are actively joining the conversation through the city’s Faith in Housing Initiative. This partnership invites churches to utilize their land to create affordable housing solutions. For instance, Newell Presbyterian Church is set to build 50 townhomes right on its property, in partnership with the developer DreamKey Partners. This ambitious project is estimated at around $15 million and aims to serve community members, allowing individuals and families earning up to $84,000 to purchase homes. This move is seen as a responsible stewardship of the church’s resources and a great way to give back to the community.

Notably, congregations like Little Rock AME Zion Church have also made significant strides in affordable housing. They successfully developed a 105-unit rental housing project known as Varick on 7th, proving that faith-based organizations can play an essential role in meeting housing needs.

The Challenges Ahead

Charlotte’s housing affordability crisis is stark. A recent report shows that over 61% of renters earning under $75,000 are cost-burdened, meaning they spend too much on housing, leaving little room for other expenses. To combat this issue, the Charlotte City Council is seeking to double the city’s Housing Trust Fund from $50 million to $100 million. This funding initiative includes $35 million specifically for the production of rental housing, as well as $25 million earmarked for first-time homebuyer assistance.

The plan aims to support families earning up to 120% of the area’s median income, ensuring that vulnerable populations can access affordable housing options.

Community Engagement is Key

A recent housing summit hosted in the spring drew significant interest from churches and community organizations, highlighting the pressing need for collaborative action. Many faith communities, while facing declining attendance and revenue, are increasingly recognized as essential partners in addressing the housing crisis. These organizations are stepping up, willing to transform their land into spaces that serve the community better.

As Charlotte gears up for a referendum on the housing bond this November, community feedback is vital. Advocates are optimistic yet cautious, recognizing the potential this initiative has to make a tangible impact on housing affordability. The combined efforts of nonprofits, churches, and local government could very well be the turning point in Charlotte’s ongoing battle with the affordable housing crisis.

With all these exciting initiatives in place, Charlotte is drawing a roadmap towards a more inclusive future, where everyone has the chance to call a house their home.

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Additional Resources

• Axios: Nonprofit Affordable Housing
• WSOC TV: Charlotte’s Affordable Housing Crisis
• Spectrum News: Churches Invest in Affordable Housing
• Charlotte Observer: Housing Politics
• Charlotte Magazine: Churches and Housing Crisis
• Wikipedia: Affordable Housing
• Google Search: Affordable Housing Charlotte