Asheville -- April 30, 2026: Asheville City Council has approved a conditional zoning change for a 203-unit affordable housing development at 50 Coxe Ave. in downtown Asheville. The unanimous decision, made on April 28, 2026, marks a significant step in the city's efforts to address the ongoing housing crunch and affordability concerns in the Western North Carolina region.
The approval allows Raleigh-based Harmony Housing Affordable Development to construct a seven-story complex on 1.6 acres of Buncombe County-owned land, currently utilized for parking lots and a former warehouse. All 203 multifamily units are designated as affordable, targeting residents earning less than 80% of the area median income (AMI), which is $74,800 for a family of four. Some units will be available to residents earning as low as 20% AMI.
The project aims to contribute to Asheville's housing supply by providing dense, affordable housing in a central location, aligning with city goals for urban development. During the approval process, Council added a condition requiring the developer to use "best efforts" to meet deeper affordability targets. This condition was added after the developer noted the need for flexibility beyond federal tax credits and $9.8 million in county subsidies, which are key funding sources for the project.
The development plan includes:
203 designated affordable multifamily units.
Approximately 5,900 square feet of ground-floor retail space.
A two-story parking garage containing 121 spaces.
Primary parking access shifted from Ravencroft Drive to Coxe Avenue.
Traffic studies conducted for the project indicated "insignificant" impacts at nearby intersections, with no anticipated delays. Construction for the development is anticipated to begin in early 2027, with completion projected as early as 2029. This project is part of broader city efforts to increase housing options, following March 2025 zoning changes that aimed to reduce parking mandates, streamline permits along major roads, and allow for alternative housing types like cottage clusters.
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