RALEIGH, N.C. (WNCN) – Affordable housing is a big problem in Raleigh with a big price tag.
“There’s a shortage of housing for both renters and homeowners in the city,” said Sophia Ramos, Communications Analyst for the City of Raleigh’s Housing and Neighborhoods Department.
“As new people come to the area and these jobs that may be higher-paying, the city (is) also striving to provide affordable housing to them and housing to residents of all income groups,” Ramos explained.
In November, voters passed an $80 million affordable housing bond in Raleigh. It’s been almost 10 years since the last housing bond passed.
Ramos said the affordable housing bond will be used over five years in five stages starting in July.
“The first $24.8 million that is budgeted, there are a few areas that the city will focus on. One is securing city-owned sites near major transit corridors,” she said.
Another part of that is working with developers and nonprofits to help build more homes and help people who are homeless.
In 2016, the city started a goal to create 570 affordable housing units a year for 10 years, with a total of 5,700 housing units by 2026.
“With the bond resources, we expect to exceed that number,” Ramos said.
Right now, the city has built or preserved just 2,900 affordable housing units.