The City of Raleigh Housing & Neighborhoods Department has launched the Affordable Small-Scale Rental Development Program.
Donor Name: City of Raleigh
State: North Carolina
City: Raleigh
Type of Grant: Grant
Deadline: 08/01/2025
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
Details:
The City of Raleigh’s Housing and Neighborhoods Department announces the availability of the following:
- Approximately $3,600,000 for gap financing from Affordable Housing Bond (Bond) proceeds to support the creation and preservation of affordable rental units; and
- City-owned building sites via long-term land leases (preferred option) or fee-simple sale (alternative option) to support the creation of affordable rental projects.
Eligibility Criteria
Gap financing funds and City-owned building sites are available to non-profit developers or to partnerships between a mission-based non-profit and a for profit developer. If an emerging developer, is a for-profit, there must still be partnership with a mission-based non-profit.
For more information, visit City of Raleigh.
