Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Affordable Housing topic
No spam. Unsubscribe anytime.
Council approves CDBG gap funding for East College Park site work to build six townhomes
Summary
Raleigh approved a conditional commitment of $448,733 in Community Development Block Grant funds to Evergreen Construction to pay for site work on East College Park townhome Site 4, enabling construction of six for-sale townhomes with at least four units reserved for buyers at or below 80% AMI.
Raleigh City Council voted to approve a conditional commitment of up to $448,733 in Community Development Block Grant (CDBG) funds to support site improvements for East College Park townhome Site 4.
Jess Brandes (Housing and Neighborhoods) told council the East College Park revitalization program seeks to deliver attractive, energy-efficient townhomes for first-time buyers. Under the program’s terms, at least 60% of units are intended for lower-moderate-income buyers (no more than 80% of area median income). Staff said financing gaps caused by construction cost increases after the COVID-19 pandemic made the project infeasible without gap support. The proposed contribution would cover site work so Evergreen Construction Company can complete six townhome units: four reserved for low- and moderate-income buyers and two market-rate units; all would be for first-time homebuyers.
Staff said due diligence — including an HUD environmental review — was completed in 2024 to allow CDBG funds to be used for site improvements. Council moved to approve the conditional commitment and authorize appropriate city officials to execute documents; the motion carried unanimously.
Housing staff noted the sources for the project remain the sales proceeds of the townhomes and the requested gap financing. Council asked about oversight to ensure quality and compliance; staff responded that personnel changes had occurred since the earlier phases and that current staff would provide proper oversight. Council also confirmed that the 80% AMI limits referenced are HUD figures.
