Buncombe County subcommittee recommends funding plan for Cox Avenue and Ferry Road, reviews six AHSP applications

The Buncombe County Affordable Housing Subcommittee reviewed six new‑construction applications for the county’s Affordable Housing Service Program (AHSP) and moved to recommend funding levels and loan terms for the Cox Avenue and Ferry Road projects to the full Board of Commissioners.

Jonathan, a staff presenter, told the subcommittee that staff received the six applications in January and had been reviewing capital stacks and site scores. “We have six applications that we will be reviewing today … totaling a little more than $8,600,000 in affordable housing service programming requests, and the total number of units proposed here comes to 655,” Jonathan said. He walked the panel through each application’s financing summary and the program’s eligibility limits.

The subcommittee heard detailed staff analyses of each project. Mossy Rock Terrace, a proposed 72‑unit development in Candler by Lowcountry Housing and Communities, requested $4,300,000 from AHSP — a sum Jonathan said “actually exceeds the program limit…