Charlotte Invests $26.4M in Affordable Housing Across the City

Published on May 12, 2026

A blue house surrounded by trees

The Housing Trust Fund makes a $26.4 million investment in affordable housing.

Charlotte City Council recently approved $26.4 million in Housing Trust Fund investments to support 13 affordable housing developments across the city. These investments are expected to create approximately 816 affordable homes, including 602 rental units and 214 homeownership opportunities. 

This funding round includes a mix of family housing, senior housing and homeownership developments, with a significant portion of rental units targeted to residents with the greatest housing needs. Approximately 25% of rental units will be affordable to households earning 30% of area median income (AMI), or approximately $33,650 for a family of four. 

Multifamily (Rental) Developments 

The approved funding supports five multifamily developments, all of which include a mix of affordability levels, with units ranging from 30% to 80% AMI. 

  1. Village at Grier Heights (District 1)
    • 80 units (senior housing)
    • AMI mix: 30%, 50%, 60% and 80%
    • Housing Trust Fund investments: $2,763,000
  2. Oak Valley Family (District 1)
    • 188 units (family housing)
    • AMI mix: 30%, 60% and 80%
    • Housing Trust Fund investment: $1,500,000
  3. Mineral Springs Commons II (District 4)
    • 91 units (senior housing)
    • AMI mix: 30%, 50% ,60% and 80%
    • Housing Trust Fund investment: $1,100,000
  4. Evoke Living at Wilora Lake (District 5)
    • 120 units (senior housing)
    • AMI mix: 30%, 50% and 70%
    • Housing Trust Fund investment: $5,850,000
  5. River District Mixed-Income II (District 5)
    • 123 units (family housing)
    • Housing Trust Fund investment: $5,600,000

Several developments are being delivered in partnership with faith-based organizations, helping activate underutilized land for affordable housing. Projects like Mineral Springs Commons II, Hovis Road, and Evoke Living at Wilora Lake reflect a growing model where churches partner with developers to create housing while maintaining a connection to the surrounding community. 

The inclusion of River District Mixed-Income II reflects a strategy of investing early in large-scale, mixed-use developments. As the River District continues to grow, this investment is intended to help ensure housing options at a range of price points are included from the outset rather than added later. 

Homeownership 

Eight developments will create 214 homeownership opportunities across the city, with most homes targeted to households earning between 60% and 80% AMI. 

  1. Billingsley Homeownership (District 1)
    • 21 units
    • AMI mix: primarily 60-80%
    • Housing Trust Fund investment: $1,050,000
  2. South Crigler Duets (District 2)
    • 6 units
    • AMI mix: primarily 60%
    • Housing Trust Fund investment: $360,000
  3. Hovis Road (District 2)
    • 39 units
    • AMI mix: primarily 80%
    • Housing Trust Fund investment: $780,000
  4. Legacy at Paw Creek (District 2)
    • 23 units
    • AMI mix: workforce/market mix with affordable units primarily targeted around 80% AMI
    • Housing Trust Fund investment: $1,340,000
  5. Oakdale Road (District 2)
    • 65 units (Habitat for Humanity development)
    • AMI mix: primarily 80%
    • Housing Trust Fund investment: $2,930,000
  6. Aveline at Prosperity Church (District 4)
    • 16 units
    • AMI mix: primarily 60-80%
    • Housing Trust Fund investment: $800,000
  7. Wisteria Drive (District 6)
    • 24 units (Habitat for Humanity development)
    • AMI mix: primarily 80%
    • Housing Trust Fund investment: $1,400,000
    • Located near the Archdale and Arrowood light rail stations, Wisteria Drive aligns with broader transit-oriented development goals by supporting affordable homeownership near transit infrastructure.
  8. Zion Hills (District 5)
    • 20 units (Habitat for Humanity development)
    • AMI mix: primarily 60-80%
    • Housing Trust Fund investment: $1,000,000

Several homeownership developments use models designed to make homeownership more attainable today while helping keep homes affordable for future buyers. Projects led by Habitat for Humanity and community land trusts help lower costs for first-time buyers and create long-term affordability in Charlotte’s housing market.

Learn more about the Housing Trust Fund and the other affordable housing work that the city is doing, along with opportunities for renters, homeowners and landlords.

 

 

 

 

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