One reason just about everyone’s house in Greensboro and Guilford County got assessed such high values on their homes in this year’s revaluation is due to the fact that the area has a real housing shortage and also has tens of thousands of new people coming in in order to fill jobs with companies like Toyota and JetZero.
With housing prices high, corporations buying up some of it, and little inventory on the market, city and county leaders have decided more housing is needed in a short number of years. And much of that, they say, needs to be affordable housing. Not only will that allow new workforce participants to live in Greensboro and Guilford County (and pay taxes there), but it should also help Greensboro’s major homeless crisis.
The Greensboro City Council has just approved more than $8.1 million in funding aimed at boosting the city’s affordable housing supply, backing a slate of six multifamily projects that officials say will help address housing needs across a wide range of income levels.
The funding package, approved at the council’s recent meeting, combines federal program dollars with local bond money and will go toward both new construction and the rehabilitation of existing housing.
City officials said that the effort is part of an ongoing push to expand access to what they describe as “attainable housing” in Greensboro – a term that’s come up more and more in recent years as housing costs have climbed and availability has tightened.
The city opened the process in February, asking nonprofit and for-profit developers to submit proposals for gap financing – the kind of funding that helps make projects viable when other sources don’t quite cover the full cost.
In all, 17 applications were submitted.
Staff with the city’s Housing and Neighborhood Development Department reviewed those proposals and recommended six for funding, which the council ultimately approved.
Those six projects include a mix of new developments and renovations:
- Ellington Place, planned for 2701 North O. Henry Boulevard, will bring 75 new units to the area and will be developed by DHIC, Inc.
- Graceview Apartments, at 690 Union Street, is expected to add 84 units, with Affordable Housing Management, Inc. listed as the developer.
- Phillips Avenue Apartments, located at 2533 Phillips Avenue, will include 59 units and will be developed by Self-Help Ventures Fund.
- Southgate Market Apartments, at 734 South Elm Street, is the largest of the group, with plans for 120 units. That project is being handled by the Alexander Company, Inc.
In addition to new construction, two existing properties are set for rehabilitation.
Partnership Village, at 2133 Greenbriar Road, will undergo renovations to improve 56 supportive housing units. That project is also tied to Affordable Housing Management, Inc.
Richardson Village II, at 600 Dewitt Street, will see 24 units rehabilitated by Beacon Management Corporation.
Altogether, the six projects represent a significant addition to the city’s housing inventory – though officials caution that several steps remain before construction can begin.
Each development still needs to secure additional financing and meet various closing conditions before the work can move forward.
Some of the proposals are tied to the North Carolina Housing Finance Agency’s Low-Income Housing Tax Credit program – that’s a key funding source for affordable housing projects nationwide. Awards for that program are typically announced in late August.
City officials said the developments are designed to serve households across a broad income spectrum – from residents with very limited earnings to those closer to the area’s median income.
If everything stays on track, construction isn’t expected to begin until the fall of 2027.
That timeline reflects the reality of affordable housing development, which often involves several layers of financing, regulatory approvals and coordination among multiple partners. City and county leaders have been working this year to cut permitting red tape and streamline the process from conception to completion so that the area can get much needed housing quicker than usual.
City leaders say the investment marks another step forward in Greensboro’s long-term housing strategy, which includes initiatives like the “Road to 10,000” plan – an effort aimed at significantly increasing the number of housing units available across the city.
hopefully with adequate ‘unit’ to start with, capable people in a healthy economy will build the wealth to buy a nice HOME in a neighborhood of HOMES & get out of UNIT TOWN
If you want to talk about affordable housing please explain why Smith Homes was torn down. It had just been updated 2 years before
A donor needed to be “reimbursed” for their contribution to Skip.
ditto & it was well maintained & formed ‘community’/’enclave’ close to COG amenities & jobs. if it had closeby public schools sans busing people would have cherished it more.
The official line is that it was torn down to make way for a new development as the aging structures were deemed obsolete. The original structures were built in the 1940s and required significant upgrades to meet modern standards.
Timing did seem kinda off though.
Can anyone prove tens of thousands of new people have moved into Guilford County? My new tax rate I’m soon to pay is a major struggle for a senior on fixed income. Ho hum, who cares? I believe most citizens know who the beneficiaries will be.
So Guilford-Gotcha is going to run a real estate business? Are they going to tax themselves?
Name something our Government does well.
we got better roads than south carolina but thats about it
Why don’t they just give the money to Habitat for Humanity?
Very good Greensboro. Definitely cut the red tape to speed up the process for housing.
I drove by what was Smith Homes last week. It seems that something is about to start there. I didn’t see any signage as to what it might become.
It was torn down almost 2 years ago there never a public notice or anything said on n the news or paper that it was to be demolished. Just odd that all those tenants were relocated and no one can or will answer who made that decision especially when Greensboro has a low income housing shortage
Uh-hmm. Here is what they DON`T want to tell you. This is part of what is known as AFFH. Please look this up. Obama created it, Trump and Sec. Carson got rid of it, and Biden brought it back but hid it within another program so it wouldn`t be easily done away with. What this does is allow the Fed. Gov`t to dictate to local governments an expansion of public housing in areas that are more affluential or even middle-income. If they do not, Fed. money can be withheld from road projects, schools, transportation, etc. They can dictate the cutting of police depts. and other essential depts. There was a community in New York which was a test case for this back in 2013 and they fought it in court. The upshot is this new “housing” may be put in areas where it will LOWER your property values after they were assessed higher property taxes for supposedly being worth more. Only way to fight this is to get those bums out of office, and the likelihood of that in a city/county which is majority Democrat is as likely as seeing Chuck Schumer turn Republican, but miracles can happen.
The only local access to federal funds impact by this legislation is HUD funding. In no way does this program force low-income housing to be built in any specific areas….it does require low-income housing not be concentrated into isolated areas of low-income zones as has been historically done in many cities. The city actually self certifies as part of the funds application process versus having their plans approved by federal agencies.
jtruit8 is clearly misrepresenting how the program works. The only funds impacted for non-compliance are HUD funds. Not highway funds or policing funds etc… That is just misinformation on jtruit8’s part by error or intent.
I don’t defend the program as these types of programs to be a ‘papering’ exercise at times and I found no studies indicating its effectiveness or lack of it. Just didn’t like seeing it so misrepresented.
Please explain why these new “affordable” home are being built in neighborhood where the county raised tax value on existing homes ($90,000-$120,000) to more than $200,000. Basically the added taxes will be $80 to $120 per month just to cover the increase in taxes.
This doesn’t make sense to me
Please explain why these new “affordable” home are being built in neighborhood where the county raised tax value on existing homes ($90,000-$120,000) to more than $200,000. Basically the added taxes will be $80 to $120 per month just to cover the increase in taxes.
This doesn’t make sense to me
Careful, the gang gets in a tizzy if you switch usernames.
I’m curious as to how many of these “development” companies, Skippy boy is part of through his real estate company? We all know how he constantly touts the affordable housing line. He doesn’t get involved in anything he’s not going to benefit from and everybody in Guilford County knows it. I think that’s why he’s determined to go up on all the taxes, hoping people are going to have to sell out because they can’t afford them. So he and his realty company and his shell corporations can step in and take these properties. Skip away with your money Alston never approves or backs any project he’s not going to benefit from.