Asheville County selects Urban Atlantic for Ferry Road development partnership

The Buncombe County Board of Commissioners held a briefing on June 3, 2025, focusing on the Ferry Road development project, which aims to address community needs for conservation, affordable housing, and recreation. The meeting featured presentations from Ebi Otterstall and Sarah Odeo, who provided updates on the project’s progress and the evaluation of proposals from potential development partners.

The county acquired the Ferry Road property in 2020 to engage the community in determining its priorities. Following public engagement, the county established goals for the site, including creating a mixed-income, multi-generational community and conserving at least 55% of the natural resources. The development plan aims to provide 645 housing units, with over half designated as affordable.

Two proposals were received from development teams, which were evaluated based on their alignment with the county's guiding public interests and their capacity to deliver the project effectively. After thorough assessment, staff recommended Urban Atlantic as the master development partner. Urban Atlantic's proposal includes a mix of market-rate and affordable housing, with plans for community amenities accessible to all residents.

The proposed development will feature a combination of rental and homeownership units, with specific allocations for low-income households. The timeline for the project anticipates a five-year completion period, with an estimated total development cost of approximately $160 million. The county is expected to contribute $19 million in funding to support the project.

The commissioners expressed their commitment to reviewing the investment policy regularly and emphasized the importance of community engagement in the development process. The next steps will involve further discussions and a vote on the proposal scheduled for June 17, 2025.