Charlotte church invests $2 million in affordable housing development

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Charlotte church invests $2 million in affordable housing development covenant presbyterian church has decided to invest $2 million in a new affordable housing development in west Charlotte, the church said Tuesday.

Salvation Army preserves Uptown low-income housing through $11 million sale. Covenant Presbyterian is investing $2 million in building an affordable housing community in west Charlotte. Myers Park Presbyterian also continues to build low-income housing in Grier Heights.

City staff plans return to council by the end of May with a new development agreement. Long history The city and the Charlotte Area Transit System bought nearly 16 acres for $9.2 million. The city helped pay for that with $2 million from the Housing Trust Fund.

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Mayor Vi Lyles announced Thursday morning that she wants to make Charlotte’s affordable housing fund 10 times larger by increasing it to $150 million.. Baptist Church, said she wants the city.

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The development will offer one-, two- and three-bedroom units with monthly rents ranging from $348 to $900. The site is along one of Charlotte’s busiest thoroughfares and is near a charter school, grocery store and CATS bus routes. A spokeswoman for the Housing Partnership said construction could start in late 2018 with opening in late 2019.

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NeighborWorks’ Network Invests Nearly $2 Billion in Affordable Housing in 2015 The network’s rental housing portfolio exceeds 140,000 homes The NeighborWorks America network of local nonprofit builders invested more than $1.9 billion in the development and preservation of affordable rental homes in fiscal 2015.

Covenant Presbyterian Church has decided to invest $2 million in a new affordable housing development in west Charlotte, the church said Tuesday. The Charlotte Mecklenburg Housing Partnership is developing 185 apartments at the southwest corner of Freedom Drive and Camp Green Street.

Foster says affordable housing is the church’s number one goal. The church is still waiting for approval and hopes to get some of the $50 million bond referendum for Affordable Housing Charlotte voters recently passed. If all goes well, the units will be up in 2021. Rent will be up to $875 a month.

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Charlotte church invests $2 million in affordable housing development charlotteobserver.com Covenant Presbyterian Church has decided to invest $2 million in a new affordable housing development in west Charlotte, the church said Tuesday.