41 Budget-Friendly Units Soon at Asheville’s Haywood St. Apartments
TL/DR –
The Haywood Street Community Development in Asheville is constructing an affordable housing project, featuring 41 units, primarily for those earning 30-50% of the area median income. The development will constitute one-, two-, and three-bedroom apartments, with 37 units reserved for housing voucher holders. The project, which is being funded through public-private partnerships and has a total budget of $12.25 million, was approved by the Asheville City Council in February 2022 and is expected to take 12-18 months to build.
Asheville Encourages Affordable Housing with Groundbreaking New Project
From the edge of an empty lot overlooking Asheville’s stunning mountain vistas, Jeanette King envisioned the view that future residents will wake up to each morning. This lot is the site for the Haywood Street Community Development’s (HSCD) first deeply-affordable housing project.
A Decade in the Making
Working together with fellow board member, Carrie Pettler, the HSCD is set to transform this once vacant plot into a 41-unit affordable housing complex, primarily targeting those earning 30-50% of the area’s median income. Outlined across the mountainous skyline, the building will feature one-, two-, and three-bedroom apartments, small decks with mountain views, and community spaces.
Creating an Impact
King, who has personally experienced the struggles of homelessness, expressed the deep emotional impact of having a safe structure over one’s head. She believes the project’s location, at 339 West Haywood St., is ideal due to its proximity to downtown and the Asheville Rides Transit garage. Furthermore, the site will experience significant changes with the arrival of the $1.3 billion I-26 Connector project.
Deeply Affordable, Deeply Needed
The majority of these apartments will be reserved for housing voucher holders, targeting individuals earning between 30-50% of the area’s median income (AMI). With Asheville’s 2023 AMI for one person at $17,850 and $20,400 for two, these units will provide a more affordable living option in an area with a rapidly rising cost of living. The remaining apartments will be rented to families earning 80% of the AMI or below.
Financing the Future
The affordable housing complex will be funded through public-private partnerships. With a total budget of $12.25 million, the project received financial support from various sources including Asheville City Council, Buncombe County, Dogwood Health Trust, and fundraising efforts. Construction is expected to begin soon, with an estimated completion time of 12-18 months.
Hope for More
Board members and HSCD staff hope this project serves as a model for future deeply-affordable housing developments. With the ongoing housing crisis in Asheville, locals like Pettler believe that more affordable housing projects are necessary to keep the city’s diverse residents in their homes.
Groundbreaking Ceremony
The groundbreaking ceremony for the HSCD’s first deeply-affordable housing project will take place on February 21 at 12:45 p.m. at 339 West Haywood St.
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