Raleigh invests $80M in affordable housing to combat homelessness

Raleigh City Council is taking significant steps to combat homelessness and improve affordable housing in the community. During their recent work session on April 15, 2025, city officials highlighted a comprehensive strategy aimed at addressing the housing crisis through both supply and demand interventions.

A key focus of the meeting was the city's ongoing commitment to expanding affordable housing. Since 2016, Raleigh has completed or has plans for 7,284 affordable units. This initiative is part of a broader goal to enhance the overall affordability of the housing market, recognizing that simply increasing supply is not enough to solve the homelessness issue.

The city is leveraging the 2020 housing bond, which is the largest in Raleigh's history, to fund these efforts. The bond, totaling $80 million, is divided into five categories, including public-private partnerships and gap financing for transit-oriented projects. So far, 75% of the bond funds have been committed or spent, supporting over 1,100 housing units and assisting more than 100 households with home repairs and revitalization.

City officials emphasized the importance of combining local funding with federal resources, such as Community Development Block Grants and Emergency Solutions Grants, to maximize the impact of their affordable housing initiatives. The council's approach aims not only to provide housing but also to reduce the public costs associated with homelessness and lessen the burden on first responders.

As the city prepares for the final year of the bond, officials are optimistic about the progress made and the potential for further advancements in affordable housing solutions. The ongoing commitment to these initiatives reflects Raleigh's dedication to creating a more inclusive and supportive community for all residents.