Wake County works with a variety of private and public sector partners to make affordable housing available for all individuals and families.
Since 2010, Wake County has lost 59% of its housing units with rent below $750 per month, and 40% of units with rent below $1,000.
Why is this happening? Restrictions on affordable housing units eventually expire, at which point investors can purchase them and convert them to market-rate, significantly increasing rents. Wake County is also an attractive market for investors to purchase naturally occurring affordable housing developments and increase the rent of those units.
But Wake County, the City of Raleigh and our community partners are working to keep these units affordable.
Wake County made a historic investment in constructing new affordable housing and has funded nearly 3,000 units since 2019. However, addressing housing affordability requires both building new units and preserving those that already exist.
To help, Wake County invested $10.5 million along with $4 million from the City of Raleigh to create the Wake County Affordable Housing Preservation Fund, which will provide multifamily developers below-market capital to acquire and preserve existing rental units.
Self-Help Ventures Fund, serving as administrator, leveraged investments from Wake County and the City of Raleigh to attract additional capital from banking partners to create a $61.6 million fund. The fund will allow loans to be made fast enough for development partners to take advantage of competitive acquisition opportunities.
The Wake County Affordable Housing Fund will help preserve more than 3,170 affordable units over the next 15 years!
Two Loan Options for Developers:
- Bridge Builder: Short-term revolving loans to help acquire properties, giving development partners time to stabilize the properties and obtain long-term supportive financing.
- Place Saver: Permanent financing loans to acquire and rehabilitate properties, targeted specifically towards naturally occurring affordable housing properties.
Want to apply? Reach out to Self-Help to learn how:
John “JJ” Froehlich
Housing Sector Leader | Commercial Lending
Join the Fund
If you or your organization is interested in contributing to the fund, contact Self-Help Ventures Fund:
Amanda Frazier Wong
Requests for Proposals
Wake County Affordable Housing Development Program (AHDP)
- 9% Low-Income Housing Tax Credit Projects
- 4% Low-Income Housing Tax Credit Projects
- Non-Tax Credit Projects
- 2021 HUD Income Limits
- Sample Conflict of Interest Statement
- Wake County Rental Assistance Housing Program (RAHP)
- Corporation for Supportive Housing Support Service Plan Example
- Sample Enhanced Services Plan
- Sample Second Chance Policy
Wake County Department of Housing Affordability and Community Revitalization is pleased to announce the availability of loan funds under the Wake County Affordable Housing Development Program (AHDP). For-profit and non-profit developers are invited to submit a proposal for funding to assist in the new development and/or rehabilitation of affordable rental housing for low-income families. Developers applying for funding under the 4% or 9% Low-Income Housing Tax Credit (LIHTC) requests for proposals must also be seeking an allocation of 4% or 9% federal Low-Income Housing Tax Credits (LIHTC) through the North Carolina Housing Finance Agency (NCHFA).
Developers may also submit applications for funding under the Non-Tax Credit request for proposal, which does not require application for LIHTC. Funds are available in the form of low-interest rate loans that may be used for construction or permanent financing in the development of tax credit projects. A detailed description of the program and application package are above.
Wake County 2023 application criteria:
- Wake County has policy objectives of de-concentrating poverty and locating affordable housing in areas of opportunity. Proposed developments will be evaluated based on their proximity to the following factors:
- Existing and proposed affordable housing
- Existing and proposed transit
- Existing amenities, specifically schools, public facilities such as senior centers, and grocery stores
- Preference will be given to projects which comprise the following:
- Projects that offer a portion of units set-aside for households earning 40% of the Area Median Income (AMI) or less
- Projects with units set aside to serve special needs populations
- Project including a “Second Chance” policy or other tenant selection criteria which increase access for residents with credit or criminal barriers
- Minimum of 10% of units must be set aside for Wake County voucher holders
- Awards for applications that meet only baseline affordability requirements set forth in the NCHFA QAP and do not propose deeper affordability will be subject to a maximum per unit subsidy cap.
- 4% LIHTC project applications will be accepted on a rolling basis until September 29, 2023
- Non-Tax Credit applications will be accepted on a rolling basis and will be awarded as funds are available
9% LIHTC applications must be received by Friday, Jan. 27, 2023. 4% LIHTC applications and Non-Tax Credit applications will be accepted on a rolling basis from January 20 until September 29, 2023. Incomplete applications will not be considered.
The $100 application fee in the form of a check should be made payable to Wake County Department of Housing Affordability & Community Revitalization. Proposals will not be evaluated until receipt of the application fee.
Application fee checks should be mailed to:
- Ms. Kelly Baraldi, Housing Programs Manager
Wake County Department of Housing Affordability & Community Revitalization
336 Fayetteville St., 4th Floor Room 419
PO Box 550
Raleigh, NC 27602
****This year, Wake County will receive the application packages via electronic submission. Please note the requirements for electronic submission.*****
If you have any questions regarding Wake County funding, please contact Mark Perlman, Equitable Housing and Community Development Division Direction, at email@example.com or 919-856-5254.
Request for Qualifications for COVID-19 Homeless Prevention Relocation Program
After initially gauging community partner interest through a request for Letters of Interest, the Housing Department is releasing a Request for Qualifications today for qualified community service agencies to partner with Wake County on intervention three. Selected agencies will receive funding to provide relocation assistance and financial support to households, which were not successfully stabilized by interventions one and two.
House Wake! Announces Partnership with Telamon Corporation to Help Prevent Evictions due to COVID-19
Through a competitive bid process, the Wake County Department of Housing Affordability & Community Revitalization has selected Telamon Corporation to be the program administrator for the House Wake! Eviction Prevention Program.
The partnership with Telamon Corporation focuses specifically on eviction prevention, which is the first intervention in a three-step process focused on reducing evictions in Wake County by providing resources to tenants and landlords. It will pay 50% of back rent owed, as well as a portion of future rent for up to three months, in exchange for landlords not pursuing eviction.
“Families across Wake County are facing significant financial challenges as a result of the pandemic, and it’s critical that we help as many of them as possible avoid losing their homes,” said Wake County Commissioner Dr. James West. “Now that we’ve secured a partnership with Telamon Corporation, we can assure residents that the help they need is just weeks away.”
Telamon Corporation will start accepting applications for assistance from residents by the end of August. The company will also process the applications, coordinate in-take of perspective clients and facilitate payment to the landlords.
The Telamon Corporation is one of four organizations partnering with the county for Phase II of the House Wake! strategic plan. The others are:
- City of Raleigh;
- Legal Aid of North Carolina; and
- The Raleigh Wake Partnership to End and Prevent Homelessness
Together, these organizations will implement programs that prevent the displacement of Wake County renter households that suffered a loss of income as a result of COVID-19. Up to $17 million from CARES Act funding will be available to kickstart the program. The program is expected to serve up to 3,000 households in Wake County.
The House Wake! three-step intervention process consists of:
- Eviction Prevention, which aims to provide financial assistance to tenants and landlords to cover rent shortfalls resulting from a loss of income;
- Eviction Mediation Services, which provide pro-bono legal support through a partnership with Legal Aid of North Carolina for tenants who need legal counsel to negotiate filed evictions with landlords; and
- Relocation Assistance, which will assist with relocating residents whose housing could not be stabilized through interventions 1 or 2.
After initially gaging community partner interest through a request for Letters of Interest, the Housing Department is releasing a Request for Qualifications today for qualified community service agencies to partner with Wake County on intervention three. Selected agencies will receive funding to provide relocation assistance and financial support to households, which were not successfully stabilized by interventions one and two.
“Providing eviction prevention services and legal support are lifelines to renters fighting to stay in their homes,” said Wake County Housing Affordability and Community Revitalization Department Director Lorena McDowell. “Our hope is that through this robust program, we will drastically reduce the number of residents who become homeless due to the COVID-19 pandemic and help to support the struggling housing market in our community as well.”
About House Wake!
House Wake! is a strategic plan to minimize the effects of COVID-19 on homeless and precariously housed Wake County residents, while maximizing opportunities for positive long-term outcomes.
This plan uses and coordinates federal, state and local funding to address the COVID-19 crisis within our homeless and precariously housed populations and aims to move the maximum number of people possible to housing stability. The program will begin taking applications for assistance in late August. More detailed information on the House Wake! Strategic Plan and the Eviction Prevention Program can be found here.
Rental Housing Development
We assist with funding for construction of various types and scales of affordable housing for low–income individuals, seniors and families. We primarily encourage development by making low-interest loans available to developers.
Landlord Engagement Unit & Housing Provider Partners Incentive Program
The Landlord Engagement Unit (LEU) was created with the intention of bridging the gap between Housing Provider Partners with affordable rental homes and Wake County residents who are seeking permanent affordable housing.
In order to receive assistance through the LEU, residents must already be working with an emergency response provider or community partner and be referred by their case manager.
This unit seeks to create partnerships with housing providers to increase the supply of affordable housing through an incentive program called Lease 2 Home. This program will provide financial support to participating housing provider partners in Wake County to assist in making their rental homes affordable.
The Division of Housing Affordability and Community Revitalization assists organizations with the acquisition of property to develop single-family and multi-family homes that can be either renter- or owner-occupied.
Public Land Disposition
The county and its municipalities own land that is appropriate for affordable housing. Over time, we evaluate our properties to determine which ones are suitable to sell for affordable housing projects. Any available sites will be listed on our RFP Page as we seek buyers and partners for development.
Rehabilitation and Construction Partnerships
We seek construction partners to perform rehabilitation work via two programs:
- A program for elderly and disabled homeowners; and
- A program for low-income homeowners with emergency rehabilitation needs
Permanent Supportive Housing
Supportive housing combines affordable housing with intensive tenancy support services. Several of our programs prioritize projects that include permanent supportive housing, since it serves populations most in need. We seek partners to finance and develop permanent supportive housing units and to coordinate and provide support services.
Community Agency Grants
FY2021 Combined Housing Services Funding Announcement
We are excited to announce Wake County and the City of Raleigh have partnered with seven community organizations to provide much needed services to vulnerable populations experiencing homelessness or at-risk of homelessness. Over one million dollars in funding will support partnerships to ensure that these populations have access to housing assistance, street outreach, temporary housing, case management and other important services.
- Emergency Response Shelter Services - $550,505
- Street Outreach Services - $151,330
- Housing Stabilization Rapid Rehousing Services - $318,931
- Homeless Management Information System Administration - $76,500
Congratulations to the following community organizations on being awarded funds for their incredibly important work:
- Haven House - (street outreach services)
- Healing Transitions - (emergency shelter services)
- Passage Home - (rapid rehousing services)
- The Salvation Army of Wake County - (emergency shelter services)
- Triangle Family Services (rapid rehousing and street outreach services)
- The Raleigh Wake Partnership to End and Prevent Homelessness – (homeless management information system)
- Urban Ministries of Wake County - (emergency shelter services)
For questions, please contact David Harris
We assist the towns of Apex, Fuquay-Varina, Garner, Holly Springs, Knightdale, Morrisville, Rolesville, Wake Forest, Wendell and Zebulon with funding for community development projects, public facilities, and infrastructure that creates, preserves, or supports affordable housing in low income neighborhoods.