Council awards $250,000 from 2016 bond funds to Asheville Buncombe Community Land Trust for two permanently affordable homes

The Asheville City Council unanimously approved a $250,000 grant June 24 to the Asheville Buncombe Community Land Trust (ABCLT) to assist the purchase and resale of two homes — 32 Grama Street and 32 Olive Street — as permanently affordable homeownership units restricted to households at or below 80% of Area Median Income (AMI).

Sasha Burtynsky of the Community and Economic Development Department presented the request and explained that the $250,000 would come from 2016 bond funds allocated for affordable housing. Burtynsky said the land trust is the region’s only community land trust and described the CLT model, in which the nonprofit retains ownership of land and sells houses under long‑term ground leases or deed restrictions to keep prices permanently affordable.

Burtynsky and ABCLT representatives said 32 Grama Street — a 1,600‑square‑foot, four‑bed, two‑bath house built about 1910 in East End/Stevens‑Lee area — had been purchased by the Preservation Society and extensively renovated, with project costs reported at roughly $475,000 to $500,000. ABCLT intends to buy the property for $350,000 and resell it with a deed restriction for approximately $200,000 to an income‑qualified buyer. The other property, 32 Olive Street in Southside, would be purchased by ABCLT for $200,000 and sold to a qualifying household for about $185,000 after renovations.

At the Housing and Community Development advisory meeting prior to council, HCD voted 2–1 in favor of recommending the grant. Multiple speakers from the neighborhood and preservation community spoke at council in support: neighborhood association leaders and residents described the properties as part of the area’s legacy fabric and urged council to use available bond funds to preserve housing and stem displacement. Anna Zievska, executive director of ABCLT, and other proponents noted Grama Street had been in one family for more than a century and called the work reparative.

Council members said they were moved by neighborhood testimony and the preservation effort. Staff clarified that city funds would not be disbursed until the projects were fully funded and ready to close. Council approved the $250,000 grant motion unanimously.

Next steps: staff will coordinate closing with ABCLT and the Preservation Society and apply deed restrictions to both homes so they remain permanently affordable; grant disbursement will occur at closing when additional funding sources are confirmed.