Focus on: Raleigh, N.C.

Of all the reasons Raleigh, N.C. is attractive to affordable housing developers, none may be more important that this: A friendly city government.

“Raleigh is very supportive,” said Gregg Warren, President of DHIC, a nonprofit affordable housing developer in Raleigh that has built more than 1,400 low-income housing tax credit (LIHTC) apartments in the area. “One of the City Council’s highest priorities is affordable housing. It’s a good place if you’re looking for civic support.”

The council last year approved a 1-cent-per-$100-valuation increase in property tax rate, which goes to expanding the city’s affordable housing program.  And help doesn’t just come from the city.

“The county has launched an affordable housing plan and that’s a good thing,” said Larry Jarvis, director of housing and neighborhoods for Raleigh. “Most counties don’t think of that as a one of their roles.”

Read the rest of this article written by Brad Stanhope, Senior Editor, Novogradac & Company, LLP.