Source: CBS 17
Fifty-four new affordable homes will be built in Chapel Hill, as the town received $14.8 million from the U.S. Department of Housing and Urban Development to finance the construction.
“We know the key to bringing down housing costs – we need to build more affordable homes,” stated Adrianne Todman, HUD acting secretary, in a press release. “Each and every day, we are building new homes to meet the needs of our growing nation. Today, thanks to collaboration with our partners, 54 new affordable homes will be built for families in Chapel Hill, North Carolina.”
The new rental homes will be built at Trinity Court Apartments. Trinity Court Apartments is made up of 40 affordable rental homes and has been vacant since 2018.
The funding supports the demolition and new construction of the new homes. According to the HUD website, the property will have many onsite amenities including a playground, picnic area, and several other community spaces.
“Building brand-new homes is crucial to addressing the shortage of affordable housing options that is affecting households across the nation,” stated Julia Gordon, Assistant Secretary for Housing and Federal Housing Commissioner, in a press release. “The Biden-Harris administration is committed to ensuring that individuals and families can live in vibrant neighborhoods with access to safe and quality housing.”
In May, the Biden-Harris administration announced new funding aimed at increasing affordable housing, supporting renters and homeowners, aiding people experiencing homelessness, and improving public facilities and community resilience across the U.S.
“Homeownership is an essential part of the American Dream that represents so much more than a roof over our heads. For people all across our nation, a home represents financial security, the opportunity to build wealth and equity, and a foundation for a better future for themselves, their children, and future generations,” stated Vice President Harris, in a press release.
“That is why President Biden and I are expanding on our historic investments in housing by announcing $5.5 billion that will increase access to affordable housing, invest in economic growth, and address homelessness in communities throughout America. This funding will build more affordable homes and support renters and homeowners while also lowering costs, building wealth, and creating jobs”.
