County Funds Workforce Housing Projects | Wilmington News

Wilmington News Today | 2 Min News | The Daily News Now! · Jul 14, 2026 · 1m

New Hanover County just dropped a game-changing $4 million fund to turbocharge affordable housing — no zoning changes, no new approvals, just smarter financing for projects already in the pipeline. Developers can snag up to $2 million (20% of project cost) at a rock-bottom 5% interest rate — way below private lenders’ usual 15-20% — in exchange for keeping units affordable for 10 years to folks earning 60-90% of area median income. The money’s self-replenishing, and the county’s holding back $2 million for the perfect project — plus they’re eyeing faster permits and fee cuts to make it even…