Construction is underway on 200 affordable apartments in Raleigh.
City leaders and partners held a groundbreaking Oct. 21 for Chapanoke Apartments, a 200-home affordable rental community developed by Harmony Housing Affordable Development, according to the City of Raleigh's announcement. The city's release doesn't give a street address or a completion date.
The unit mix
The 200 apartments break down as:
- 66 one-bedroom apartments
- 86 two-bedroom apartments
- 48 three-bedroom apartments
Every unit will serve households earning between 30% and 70% of area median income. For a two-person household, the city says that's $31,800 to $74,130 a year. Forty of the homes are set aside as supportive housing for residents with disabilities, and 10 more are reserved for referrals through city housing programs. Families Together will provide on-site services.
Who paid
The City of Raleigh approved $4.5 million for the project. Wake County added $7.1 million plus a low-cost, long-term land lease. With that public money in place, the homes will stay affordable for at least 30 years, the city says. The release doesn't give a total project cost or name the rest of the financing.
The project is part of the city's affordable housing plan, A Home for Every Neighbor.
Why it matters for Contractors
Two hundred units is a full-size multifamily job, and with the city and county money committed and the land lease in place, this one is past the talking stage. The city's release doesn't name a general contractor, so trades looking for work should go to Harmony Housing Affordable Development or watch for the GC's sub solicitations.
Projects with city and county money often come with paperwork: minority and women-owned business participation goals, and in some cases wage requirements, depending on the funding sources. Wake County subs who are certified as small, minority or women-owned businesses should make sure the GC knows it. Those certifications can win work on jobs like this one.