Federal Funds Allocated to Affordable Housing in Haywood County

Haywood County -- July 18, 2024: Federal funds allocated to Haywood County in the aftermath of Tropical Storm Fred

are now being utilized to address the pressing need for affordable housing in the region. Two major projects have been announced: the Balsam Edge development and the Harkins Avenue subdivision.

Balsam Edge Project

The Balsam Edge project is set to bring 84 one-, two-bedroom and three-bedroom apartment units to the land behind the Ingles on Russ Avenue in Waynesville. This development is a significant step towards providing affordable housing options to local residents, particularly those affected by the storm. The project aims to create a vibrant community with diverse housing options, catering to different family sizes and needs.

Harkins Avenue Subdivision

A $2.5 million grant has been designated for the Harkins Avenue subdivision, situated between Canton and Clyde. This initiative involves building new homes where some homeowners will be required to contribute "sweat equity." Sweat equity is a concept where individuals invest their own labor into the construction or renovation of their homes. This not only helps to reduce costs but also fosters a sense of ownership and community spirit among the residents.

Income Qualification Criteria

To qualify for these affordable housing projects, applicants must earn 80% or less of the area's median income. For a single individual in Haywood County, this means an annual income of $46,200 or less. For a family of two, the income threshold is $59,400. These criteria are designed to ensure that the housing remains accessible to those who need it the most, providing essential support to low- and moderate-income families.

WNCTimes

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