Affordable Housing Project Approved in Ephesus Fordham District
Town Manager Roger Stancil approved the Greenfield Place form district permit on June 13, 2016, which will bring 80 affordable rental units within the Ephesus Fordham District. This project puts the Town well on its way to creating at least 300 affordable housing units in the project area.
DHIC Inc. is the Triangle area's oldest and largest nonprofit housing organization. Since 1974, the agency has built or renovated and subsequently managed more than 1,500 affordable rental homes and 400 homes for sale. This will be its first project in Chapel Hill, where there is a large need for affordable rental housing.
DHIC received low income housing tax credits to assist with development and construction costs from the NC Housing Finance Agency (NCHFA) in August 2015. A second tax credit application is currently under review by the NCHFA to complete the second phase of the project, called Greenfield Commons. A decision is expected by August 2016. Greenfield Commons would house up to 69 affordable senior housing units.
The Town of Chapel Hill will provide close to nine acres of Town-owned property for the development for $100. The land was identified previously in an asset review list of real estate holdings that the Town could conceivably sell to meet Town goals. The land is currently undeveloped and located adjacent to Chapel Hill Memorial Cemetery on Legion Road. Construction is expected to begin in September 2016.
To read more about the Greenfield Place project, visit www.townofchapelhill.org/greenfield.
The proposed affordable rental development projects will continue to advance the Town’s goals to increase the availability of and access to housing, to expand socioeconomic diversity, to provide people with the ability to remain in Chapel Hill through different stages in their lives, and to support employee recruitment and retention.