Affordable Housing Plan

In September 2023, the Town Council approved an Affordable Housing Plan and Investment Strategy. The Plan outlines four key areas of focus for the Town’s affordable housing work over the next five years:

• Reduce barriers to building homes
• Expand and preserve affordable homeownership
• Expand and preserve affordable rental housing
• Increase staffing and funding capacity

The Investment Strategy estimates that implementation of the Plan will require $50 million over five years, which is expected to support the development of as many as 900 new affordable homes and the preservation of as many as 400 affordable homes.

Town staff have incorporated the Plan into an affordable housing workplan that serves as the guide for implementing our affordable housing work. We track and communicate our progress through our Affordable Housing Quarterly Reports,  Affordable Housing Dashboard, or FY 24-26 Work Plan.

The Affordable Housing Plan and Investment Strategy draws from several foundational resources, including the: 

• Council Goals (2023-25)
• Comprehensive Affordable Housing Analysis (2017)
• Affordable Housing Rental Strategy (2014)
• Northside and Pine Knolls Community Plan (2012)
• Affordable Housing Strategy (2011)
• Inclusionary Zoning Ordinance (2010)

These resources together established the guiding principles behind the creation of the Town’s new Plan.

To learn more about the Town’s Affordable Housing Plan, contact Emily Holt at eholt@townofchapelhill.org.