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Council approves additional $607,000 housing trust loan for Fair Haven Summit; project is 100% affordable
Summary
The council approved a $607,000 additional housing trust fund loan to Commonwealth Development for Fair Haven Summit (77 affordable units). City staff said the project has 20 project‑based vouchers and key program units and is already under construction.
The Asheville City Council on May 27 approved a request from Commonwealth Development for an additional $607,000 loan from the city’s Housing Trust Fund to complete Fair Haven Summit, a 77‑unit, 100% affordable housing project under construction at 1 Wayman Boulevard.
Staff said the project had previously received housing trust fund awards and a land‑use incentive grant; the new request covers a development gap created by storm‑related delays and design changes required by the North Carolina…
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