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Council conditionally backs Duplex Village plan, authorizes $2.88M in gap financing
Summary
Raleigh staff recommended the Blue Ridge Atlantic team as development partner for Duplex Village in East Raleigh; council conditionally committed $2,880,000 in gap financing, approved a long-term ground lease and authorized staff to execute loan and lease documents.
City staff recommended the Blue Ridge Atlantic development team, partnered with the Raleigh Housing Authority, as the top-scoring proposer for the Duplex Village affordable housing project in East Raleigh, and the council approved staff's recommendation on Jan. 6.
Pat Dawson of the Housing & Community Development Department described the competitive evaluation (14 proposals submitted), scoring that weighed depth of…
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