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Council approves subsidy for Azalea Gateway phase 1 after debate over affordability sharing and environmental remediation
Summary
City Council approved a financial subsidy for phase 1 of the Azalea Gateway redevelopment (former Raytheon site), a 340-unit project with 102 affordable/workforce units and a negotiated 50-year affordability term; vote was 6-1 after discussion about Live Local legislation, subsidy of 120% AMI units, and environmental remediation obligations.
City Council voted 6-1 Feb. 20 to approve a financial subsidy request for phase 1 of the Azalea Gateway Apartments, a multi-phase redevelopment of the former Raytheon site near Tyrone Mall that would ultimately include about 1,000 units, with 300 units restricted as affordable or workforce housing.
Mark Van Lew presented the plan, saying phase 1 would include 340 units total, with 102 units restricted as affordable or workforce housing (51 at 80% AMI and 51 at 120% AMI) and a negotiated 50-year affordability term. The developer team combines Porter Azalea Land and the Falcone Group under an LLC…
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