Wake County is set to invest nearly $18 million into eight housing developments, aimed at creating and preserving 644 affordable homes. This initiative is targeted at supporting seniors, working families, and individuals on low and fixed incomes. According to the Wake County Board of Commissioners, the need for affordable housing has never been greater.
“This is one of the largest affordable housing investments we’ve made in a single year,” said Safiyah Jackson with the Wake County Board of Commissioners. “We know housing is the foundation for health, safety and economic opportunity. When investing in our own neighbors, the seniors, working families and individuals who live right here in Wake County, we’re strengthening our entire community.”
These funds surpass Wake County’s annual goal of creating and preserving 500 units. They are part of the 2025 Affordable Housing Development Program, which backs both Low-Income Housing Tax Credit projects and non-tax credit initiatives, using both federal and local funds.
The county assessed proposals based on the ability to serve the lowest income residents, ensure long-term affordability, quality, and feasibility.
The developments receiving funding will submit their final applications for tax credits to the North Carolina Housing Finance Agency in May, with results expected in August 2025.
For further details on Wake County’s Affordable Housing Development Program, information is available at wake.gov/housing.
