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Board approves $3.5M CDBG-DR amendment to support 84-unit affordable housing development
Summary
Haywood County authorized a $3.5 million budget amendment and document execution to support the Blossom Edge 84-unit Mountain Housing Opportunities project (CDBG-DR and other financing), which the county expects to leverage substantial outside financing and begin construction this summer.
The Haywood County Board of Commissioners approved a developer agreement and a $3,500,000 budget amendment to support Mountain Housing Opportunities' 84-unit Blossom Edge multifamily development near Ingles/Chick-fil-A in Waynesville. Hannah White, the county's Community and Economic Development manager, said the $25M project will reserve all 84 units for low- and moderate-income households because the developer secured financing from the North Carolina Housing Finance Agency; she said the project expects to close financing and begin construction in late summer with a projected finish in the third quarter of 2027.
"For our project, 51% of the units had to go to the 80% and below, but because Mountain Housing had already secured financing ... a 100% of their 84 units will go to low to moderate income individuals," White said. The presentation noted HUD environmental clearance steps were clearing, the project had already drawn multiple funding partners, and local CDBG disaster-recovery funds would be a leveraging element. The Board voted to authorize the county manager to execute documents and approved the budget amendment by voice vote.
