Skip to content

Housing Call: October 31, 2023

NCHC Updates

  • Thank you to all those that attended Housing Works last week, we welcomed over 1200 attendees. 
  • Thank you for filling out the survey on County Profiles & NCHC resources! We look forward to sharing the feedback and results with you in the coming weeks.

  

Federal Updates

  • In an effort to help create more affordable housing, the White House released a new plan on Friday to help property owners convert empty offices into apartment units. The Administration plans to offer financing resources for the commercial-to-residential conversions, provide technical assistance, and incentivize states and cities to participate. The new plan intends to build on the initiatives in the White House Housing Supply Action Plan, which aims to lower housing costs, boost housing supply, and promote fair housing, and the Administration’s actions to lower energy costs and tackle the climate crisis.
  • The House of Representatives has a new speaker. Louisiana Representative Mike Johnson was elected to the position last week after three other nominees failed to garner enough votes. With a Speaker in place, the House can resume consideration of its fiscal year (FY) 2024 appropriations Congress has until November 17 – when government funding expires – either to pass all 12 annual spending bills or enact another continuing resolution (CR) to extend current levels of federal funding.
  • The House could potentially consider the THUD appropriations bill this week. The House bill provides a $6.4 billion increase over FY23-enacted funding. While it increases funding for most rental assistance programs, it proposes deep cuts to and even the elimination of some HUD programs. The House will also consider amendments that would further reduce investments in affordable housing and harm households with the lowest incomes. In the Senate, lawmakers are considering a three-bill “minibus” appropriations package, including an FY24 spending bill for THUD. The Senate THUD bill would provide significant new investments in affordable housing, increasing HUD funding by $8.26 billion over FY23 levels. Senators are expected to finish voting on amendments and hold a final vote this week.
  • Last week the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA).
  • The National Council for State Housing Finance Agencies released their 7th edition of best practices for housing credit administration to respond to key issues impacting affordable housing such as:
    • Skyrocketing development financing, insurance, and operating costs;
    • Escalating pressures on the continued long-term affordability of existing properties; and
    • Siting considerations related to renter opportunity, community revitalization, and disaster risk.

 

State Updates

  • Municipal elections are underway in many parts of the state, with election day coming up on November 7. Early voting is open through this Saturday, November 4. If you haven’t voted already, you can find an early voting site, your polling place, and your sample ballot on the NC State Board of Elections website at gov. Affordable housing is a key issue to consider during municipal elections as local decisions often have a big influence on the availability of resources, location and types of housing in our communities.

 

State Legislative Updates

  • North Carolina Republicans voted to approve new redistricting maps for next year that enact new boundary lines for state House and Senate districts, as well as for U.S. House districts. This latest redistricting is a result of court rulings related to maps for the 2022 elections. The new map divides the state’s 14 congressional districts into 10 districts that favor Republicans, three that favor Democrats and one that is considered competitive between the two major parties, according to analysts. North Carolina currently has a delegation split 7-7 between Democrats and Republicans, after a court-ordered map was used in the 2022 elections.

 

Local Community Updates

  • The UNC Farm at Penny Lane in Pittsboro partnered with Cross Disability Services and the UNC School of Social Work to build 15 tiny homes for people with mental illness who are living on a fixed income. Each tiny home is just over 400 square feet and those living there will pay about $300 per month.
  • Haywood County is launching a $10M Affordable Housing Development Fund in partnership with the NC Office of Recovery and Resiliency (NCORR). Funds will be used to increase the availability of safe, affordable housing in a part of the state that experienced major damage from Tropical Storm Fred. An Affordable Housing Development Fund Panel will be evaluating and selecting projects to be funded, which will include single-family and multifamily developments. Letters of Interest are due March 1, 2024, in advance of the program application deadline of May 1, 2024. The county also received additional funds from HUD to provide down payment assistance for first-time home buyers.
  • In Apex, a new development called Stone Glen Apartments is under construction along Apex Peakway. The community will include 164 apartment homes and its Apex’s first 100% affordable project in more than 25 years. Prices will start at $690 for a one-bedroom and range to more than $1,700 for a three-bedroom. According to the Town’s 2021 Affordable Housing Plan, Apex has a shortage of 2,000 units for residents earning less than $40,000 a year.
  • The City of Durham is planning for the redevelopment of an old building that used to be the former police headquarters downtown. The Council’s vision for the vacant five-story building includes at least 80 affordable housing units, historic preservation and commercial space. Several developers are currently being considered to redevelop the four-acre property.
  • New Hanover County commissioners approved almost $3 million as part of the county’s “2023 Workforce Housing Services Program.” The plan is for the funding to be divided between four different programs:
    • a 72-unit affordable senior housing development
    • a Habitat for Humanity community with 35 new single-family units for families earning 80% AMI or less
    • New Beginning’s Rental Assistance Program, which provides assistance and services to 127 families each year
    • WARM NC’s program to complete repairs on 40 units over the next two years

 

Reports & Resources

 

Events

  • [in person] The NC Center for NonProfits is hosting their annual Conference on November 2-3 at the Benton Convention Center in Winston-Salem to connect with nonprofit colleagues, learn from experts and practitioners, and share insight
  • [virtual] Homelessness is a Housing Problem | Harvard Joint Center for Housing Studies on November 3, 2023 at 12 noon
  • [virtual] Multi-Sector Advocacy: A Look Ahead | NLIHC’s Opportunity Starts at Home campaign on November 9, 2023 at 2:30 p.m.
  • [virtual and in-person] The State of Housing Design 2023 | Harvard Joint Center for Housing Studies on November 17, 2023

 

In the News

 

 

Recommended read

Housing Call: October 10, 2023

Many thanks to our sponsors