Wake County Commits $18M to Affordable Housing for Seniors and Families
Date: 23-apr-2025
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April 23, 2025 — Raleigh, North Carolina — In a major move to combat housing insecurity, Wake County is investing nearly $18 million to create and preserve 644 affordable housing units across the region. The initiative is part of the county’s ongoing effort to support seniors, working families, and residents living on fixed incomes.
Targeting Those Who Need It Most
The funding will be directed toward both new housing developments and the preservation of existing affordable units. The goal: provide stable, long-term housing options in an area where rents and property values continue to climb at some of the fastest rates in the state.
“We are making this investment because stable, affordable housing is the foundation for health, education, and economic mobility,” said Wake County Commissioner Shinica Thomas. “This is not just about homes—it’s about dignity, security, and opportunity.”
Where Will the Housing Go?
The projects funded through this investment will be spread across urban and suburban areas in Wake County, ensuring a mix of access to public transportation, schools, and employment hubs. Some developments will focus on senior-specific housing, while others aim to support multi-generational families and individuals living below the area median income.
Also Read
- 🏘️ 265 units will be preserved through repairs and upgrades
- 🏗️ 379 new units will be constructed across five sites
- 👵 Senior-focused housing will be included in at least two developments
Why It Matters Now
Wake County’s population continues to grow rapidly, fueled by job growth and urban migration. But housing affordability has not kept pace. According to recent studies, nearly one in three households in the region spends over 30% of their income on housing.
This initiative comes at a time when rising interest rates and inflation have made both renting and buying homes more difficult for many residents. The $18 million investment is expected to leverage additional funds from federal and state grants, multiplying its impact through public-private partnerships.
Looking Ahead
County officials emphasized that this is just the beginning. “This investment is a down payment on a much larger vision,” said Housing Director Rebecca Harrell. “We are working to build a Wake County where no one is left behind, and everyone has a place to call home.”
The developments are expected to break ground later this year, with completion of the first units targeted for early 2026.
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