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Saving Raleigh’s Last Affordable Housing | Raleigh News
A nonprofit is stepping in to save Raleigh’s last stand of truly affordable housing — a 50-unit complex in Biltmore Hills, bought for $6.5 million and set for a $4.7 million renovation to keep longtime residents in their homes. Once home to Black families during segregation, this historic complex is now part of a desperate fight against the city’s affordability crisis: rents that once hit $1K/month are now a rarity, with most new units priced out of reach. With federal tax credits, city and county funds, and loans, Preservation of Affordable Housing is preserving the buildings and keeping…
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