RALEIGH, N.C. (WNCN) — Raleigh city council members voted Tuesday to approve a new goal of adding more affordable housing to the city.
Numbers provided by the city show 32,000 households are considered “cost burdened.” That means more than 30 percent of their income goes to rent and utilities.
The new goal adds 5,700 affordable housing units to the city over the next 10 years – which equals about 570 a year.
That includes both rentals and homeownership units, but the emphasis is on rentals, which are needed most.
About 470 of the rentals added each year would be new, which is triple the number from a few years ago when the city added 148 new rental units in 2014.
“It’s not enough. It’s not enough,” said Larry Jarvis, director of the city’s housing and neighborhoods department, about the supply versus demand.
He said Raleigh is in better shape than most cities, but the need is there.
“We really can’t control what happens in the private sector as properties age and they become older in some cases they may become redeveloped or refurbished and then rented to a higher income group, so we have to focus on those things that we can control and what we can control, to some extent, is supply,” Jarvis said.
The city will pay for the housing with entitlement money and the new “penny for housing” tax.
The original goal city councilmembers heard in February was for 6,700 units over 10 years, but the numbers were reduced due to challenges in the current market