County plans 200-units of affordable housing in downtown Asheville

ASHEVILLE, N.C. (828newsNOW) – Buncombe County Commissioners chose the larger of two proposed options Tuesday in approving a 200-unit affordable housing project on a pair of county-owned properties in downtown Asheville.

The project, located at 50 and 52 Coxe Ave., is estimated to cost $59.1 million. The approval now sets the stage for the county to seek proposals from potential development partners, with a goal of beginning construction in early 2026, according to a release from the county.

To help choose the preferred option, commissioners partnered with the UNC School of Government’s Development Finance Initiative (or DFI), which works with communities to help attract private-sector investments on major projects including affordable housing.

The approved project was the larger of two proposals considered for the site. The smaller one would have used only one of the two county-owned parcels, included only 130 units of housing and cost an estimated $38.5 million, according to presentation slides prepared by the initiative.

The larger project that was approved will require the closure of Sawyer St., but in response to concerns raised during the public comment process, the plan is to keep access open to pedestrian traffic, DFI said in its presentation.

During the comment period, some participants raised concerns about whether the project would have enough parking, and whether the units should be affordable to lower-income residents, the group reported.

Within the approved plan, housing units are meant to be affordable to residents earning 80 percent or less of the area’s median household income, $68,019.

The Development Finance Initiative told commissioners that the majority of people surveyed favored the larger project, in part because it provided more affordable housing units in downtown Asheville.

In a release, Commissioner Amanda Edwards praised the public input that went into the plan.

“The best thing we can do is maximize the County land available to us to meet our goal of 1,800 affordable housing units,” she stated.

“Land is a premium in Buncombe County. When we have a good piece, let’s do it,” Commissioner Al Whitesides stated in the release.

For background, the UNC School of Government Development Finance Initiative presentation can be seen HERE.