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Council approves transfer of city loans for two affordable apartment complexes
Summary
Council approved staff recommendation to transfer city loan obligations for two 50‑unit affordable properties (the Arbors and Milburnie Road Apartments) from Essential Housing back to Harmony Housing, with staff saying recorded land-use restriction agreements keep affordability covenants in place.
Raleigh City Council on March 17 approved a request to allow transfers of city loan obligations for two affordable rental properties — the Arbors and Milburnie Road Apartments — from Essential Housing back to Harmony Housing.
Erica Brandt of the city’s Housing & Community Development team outlined the loans’ histories: both properties were originally developed in the…
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