The City of Raleigh received the 2022 Home Ownership Development Award for the East College Park project. Awards were presented at the 2022 NC Affordable Housing Conference, held at the Raleigh Convention Center, on Wednesday, September 7.
For the past 33 years, the Housing North Carolina Awards have recognized our state’s top efforts to provide affordable housing. Hosted by the North Carolina Housing Finance Agency, awards are given in the Home Ownership Development, Home Ownership Rehab, Rental Development, and Supportive Housing categories.
The City of Raleigh began the East College Park project in 2017 to moderate residential values, increase homeownership opportunities, and encourage diversity within this historic neighborhood. Adjacent to St. Augustine’s University and located just five minutes north of downtown Raleigh, East College Park provides easy access to public transit, major employers, and the downtown corridor.
By using a combination of local and federal funds, the project allows new single-family homes and townhomes to be built on City-owned lots. East College Park fosters a mixed-income community, where 60% of the homes are income-restricted to serve low- and moderate-income households, and 40% have no income restrictions. To date, over 90 single-family homes have been built or are in the final stages of construction. Public spaces, such as Fisher Street Park, have also been updated as a part of the redevelopment.
“The East College Park Project is an excellent example of the kinds of investments the City of Raleigh is making in affordable housing. While this project has made a significant impact, we must continue to explore all options to address the issue of housing affordability so that everyone can build a life in Raleigh,” said Raleigh City Manager Marchell Adams-David.
The City facilitated the construction of homes with project partners including CB Pugh Enterprises, Carolina Cottage, Evergreen Construction, RD Construction, Habitat for Humanity, and St. Augustine’s University Community Development Corporation.
To increase affordability, the City utilized its Homebuyer Assistance Program and leveraged the NC Housing Finance Agency’s Community Partners Loan Pool to provide homeowners with down payment assistance. In addition to providing affordable housing opportunities, the development also created jobs through a local job fair for contractors and builders and a partnership with Habitat for Humanity for an apprenticeship program.
The next phase of East College Park will include the addition of townhomes. Once completed, a total of 150 new homes will be added to the neighborhood. To see all the ways the City is addressing the need for affordable housing, please visit the Affordable Housing Goals page.