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The committee unanimously supported $3.5 million in Housing Trust Fund support to preserve the 297-unit NOAH property at 1001 N. Tryon Street and moved the recommendation to full Council. Members also continued reviewing possible changes to the Affordable Housing Funding Policy, including ways to better align it with transit-related displacement concerns.
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The committee backed using $3.5 million to help keep 1001 N. Tryon Street affordable instead of letting it convert to market-rate housing. The proposal would keep 100 units affordable for 60 years and preserve affordability for the other units for 20 years, with no displacement of current residents. The committee also kept working on policy changes meant to better protect residents as transit and transportation projects move forward.
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