Affordable Housing Development Services

The Town of Chapel Hill is seeking a development partner to develop affordable housing on a Town-owned property located at 101 Weaver Dairy Road Extension. The partner will be responsible for finalizing the development plan, conducting community engagement, securing financing, and overseeing the construction of the project. The Town is looking for a partner with experience in developing affordable housing, particularly with public-private partnerships and Low-Income Housing Tax Credit (LIHTC) financing. The project aims to provide housing affordable to a range of income levels, with a priority for units serving households earning 60% or less of the Area Median Income. • The project will involve the redevelopment of the existing Fire Station 4 site, which includes a new fire station and affordable housing units. • The Town is seeking a partner that can provide a comprehensive approach to the project, including community engagement, financing, and construction. • The partner will be required to provide financial guarantees and abide by all applicable Town policies and regulations. • The project is expected to be completed within 48 months, with a construction start date anticipated for Fall 2028. • The Town is offering various incentives to support the development of affordable housing, including a streamlined development review process, waiver of development-related fees, and gap financing through the Town's Affordable Housing Funding Program and Affordable Housing Bond.