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Council clears two affordable housing moves: local approval for Triangle Square bonds and conditional gap funding for 15 Summit veterans project
Summary
Raleigh City Council authorized a local approval letter for predevelopment bonds for the Triangle Square project and approved a conditional commitment of gap financing for an 11‑unit supportive housing project for veterans at 15 Summit Avenue, both actions taken June 17.
Raleigh City Council on Tuesday approved two separate actions intended to move forward affordable housing projects in different parts of the city.
For the Triangle Square redevelopment, the council authorized the mayor to execute a local approval letter required by the Public Finance Authority of the State of Wisconsin. Housing and Neighborhoods staff said the developer, Triangle Town Center Holdings, has secured $9.3 million in Wisconsin‑issued bonds for…
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