Though there’s been a lot of focus on recovery and rebuilding from the storm lately, a few development projects that were underway before Hurricane Helene are moving forward in Asheville.
Asheville City Council paved the way for two new housing developments – comprising more than 400 units – at Tuesday’s meeting.
One of the projects, Pine Lane, is slated to bring 126 affordable housing units and a community clubhouse near West Asheville’s Brevard Road. The project site is approximately 10 acres in size and is located east of Interstate 26 near the intersection of Pine Lane and Brevard Road in Asheville.
There will be options for one, two, three and four-bedroom apartments.
The project, which has been in the works for several years, will be designated affordable for residents that make between roughly $40-70,000 dollars a year, depending on household size.
The city is supporting the Pine Lane Project with nearly $4 million in Housing Trust Funds Loans. Those loans were originally approved last April solely for the construction of the project, but the developer, Roers Company, said it was having trouble closing on the property, and so asked for $2.05 million of the loan to be applied towards the purchase of the property, which required another vote.
A city presentation noted that time is of the essence because the seller was "not willing to extend the contract on the land for the development, which has put the project in jeopardy."
Real estate acquisition is an approved use of the Housing Trust Fund loan, according to city policy. A 30-year deed restriction will be placed on the land to designate it as affordable even if the construction falls through.
Buncombe County has also provided $6 million dollars in loans for the project. Roers also intends to apply for 4% Low-Income Housing Tax Credits, which is expected to generate an additional $18.5 million of equity.
Council members approved the funding and zoning changes for the project unanimously.
“This is really awesome. This is affordable housing,” Council member Bo Hess said. “These are the things that we need. In fact, if we can get more of this, I would like to see that.”
Council member Sage Turner said she was especially glad that the development had three- and four-bedroom apartment units.
“For years, as we have worked so hard to develop partnerships and see affordable housing built in the community, we were getting one-bedroom, efficiencies, sometimes an occasional two-bedroom,” she said. “So I'm thrilled to see the unit count and the breakup with this.”
Other tidbits
- Council also approved a zoning request for an apartment complex on South Asheville’s Sweeten Creek Road that will include 304 units, including 280 apartments and 24 townhouse units. The project will include nearly 500 parking spots. It will not use any city funds.
- Council held a public hearing on this year’s budget process. Patrick Burger was one of several residents who urged them to prioritize sustainability, advocating for investment in renewable energy, public transit and other programs that will help drive down greenhouse gas emissions. Council will continue to accept input on its budget throughout spring. In May, it will unveil a draft and vote on it in June.
Every second and fourth Tuesday, Asheville City Council meets at the Council Chamber on the 2nd Floor of City Hall, 70 Court Plaza beginning at 5 p.m. See the full recording of the Feb. 25 meeting and the agenda.
