Get in the Zone
With politics as polarizing as ever, it is rare to find bipartisan votes around economic development. Yet, the Charlotte City Council unanimously approved zoning for multiple affordable housing projects. Since the recent Zoning Hearing, City Council has encouraged developers to add ten affordable housing units to a proposed mixed-use development at Kenilworth Avenue and Pearl Way in Midtown. Five of the affordable units are reserved for families making 60% or less of the AMI and the other five reserved for 80% AMI or less. Council approved the rezoning unanimously. Any effort to approve and build affordable housing is a win for the rental housing industry.
They also unanimously approved a rezoning petition for the development of one hundred apartment units on three acres off Arrowood Road. 70% of the residential units are reserved for households earning up to 80% of AMI for a period of no less than 20 years. This tremendous effort to provide essential housing for low-to-moderate income families is exactly how lawmakers should tackle affordable housing. Charlotte’s migration boom is a secret to no one, and city leaders have a responsibility to keep this city affordable for all their residents. By working together and finding common ground, our leaders are putting their residents first and doing what is best for their community.
While not all zoning decisions result in affordable housing projects, City Council strongly encourages developers to give back. A large multi-use development across from Pearl Street Park in Midtown received pushback for not having affordable housing units. Barbara Rainey with the Cherry Community Organization and Brooklyn Coalition said, “We hope that you will choose to be the city council who begins to honor the promises that were made to so many Black families, businesses, and schools. Affordable housing must be a part of this plan.” The Council listened and encouraged developers to consider supporting affordable housing efforts. While there are not affordable housing units in this development, Peter Pappas of Pappas Properties has pointed out his past affordable housing investments in the area. Pappas is providing a $250,000 contribution to the city’s Affordable Housing Trust Fund as part of the project. City Council has held developers accountable to not only build affordable housing units but to financially give back to their community.
Charlotte City Council continues to understand the needs of their citizens and support the rental housing industry. Let us applaud their unanimous efforts to approve affordable housing and encourage developers to do the same. It is safe to say, they understood the assignment.