Today Governor Stein, the North Carolina Department of Commerce’s (NCDOC) Division of Community Revitalization (DCR), and the North Carolina Housing Finance Agency (NCHFA) announced 10 projects to develop 828 new rental units will receive awards totaling more than $69 million in Community Development Block Grant Disaster Recovery (CDBG-DR) funds. This federal funding will expand the supply of affordable, resilient rental housing in western North Carolina.
“Getting families back into safe housing that they can afford is critical to the recovery from Hurricane Helene,” said Governor Josh Stein. “This program will ensure these 828 apartments remain financially accessible to people living in the 828 area code for the next 30 years.”
Governor Stein is laser-focused on creating safe, stable, and affordable housing of all types. State-funded nonprofit partnerships and Renew NC have completed more than 1,000 homes. Renters in WNC face some of the highest housing cost burdens in the state, and affordable rental housing is important component of a full recovery.
Last month, Governor Stein signed into law North Carolina’s first full state budget in more than two years that appropriates more than $700 million to support Hurricane Helene recovery – the third Hurricane Helene Recovery package since Governor Stein took office in January 2025. That includes $40 million to support Renew NC’s Temporary Relocation Assistance (TRA) program so each family has a place to live while their home is under construction and $35 million for additional grants to volunteer organizations that help repair and rebuild housing.
Earlier this year, Governor Stein signed an executive order to increase housing opportunities and affordability for all North Carolinians. Executive Order No. 36 directs cabinet agencies to work together to increase housing supply, affordability, and access and to use technology to deliver data-driven solutions.
Awards are provided through the Rental Production Program for Disaster Recovery (RPP), which combines CDBG-DR funds administered by DCR with NCHFA’s Low-Income Housing Tax Credit (LIHTC) program to support financially feasible and resilient housing with long-term affordability in disaster-impacted communities.
The RPP is a competitive program offering low-cost gap-financing loans for the development of multi-family affordable housing. These funds complement other financing sources, including LIHTC, when applicable.
Eligible projects include new construction, acquisition, and rehabilitation of multi-family rental housing located in HUD-designated Most Impacted and Distressed (MID) counties, including Ashe, Avery, Buncombe, Burke, Caldwell, Cleveland, Haywood, Henderson, Madison, McDowell, Mecklenburg (ZIP code 28214 only), Mitchell, Polk, Rutherford, Transylvania, Watauga, and Yancey.
Developers of affordable rental housing, such as nonprofit developers and public housing programs, were eligible to apply to the Rental Production Program for Disaster Recovery. Their projects were required to demonstrate a tie back to Hurricane Helene impacts, meet a CDBG-DR national objective, and comply with all federal, state, and local requirements, as well.
The 10 award recipients will provide 828 affordable multi-family rental units in Ashe, Buncombe, Burke, Caldwell, Cleveland, Haywood, Henderson, Rutherford, Transylvania, and Watauga counties. They are as follows:
“Housing is a critical building block for western North Carolina economic recovery,” said NC Commerce Secretary Lee Lilley. “Our partnership with the North Carolina Housing Finance Agency will help meet the growing need for housing for working families in the west.”
Recipients receiving low-cost CDBG-DR financing must comply with income limits, rent restrictions, and other program requirements for a minimum 30-year affordability period. NCDOC will monitor these projects throughout the affordability period to ensure continued compliance with federal requirements and confirm that units serve eligible low- and moderate-income households.
The Rental Production Program for Disaster Recovery requires all non-administrative funds to be fully committed, and all required documentation submitted to NCDOC by October 30, 2030. All program activities must be completed and all funds expended by January 28, 2031.
Earlier today, the state’s commitment to expand affordable housing in western North Carolina strengthened with the launch of the Renew NC Workforce Housing for Ownership Program. This final Renew NC program will fund the development of homes for purchase by households earning up to 80% of area median income in 16 HUD-Identified Most Impacted and Distressed (MID) counties.
Renew NC is North Carolina’s long-term disaster recovery effort, committed to rebuilding impacted communities stronger so they are more resilient to future storms. Renew NC is administered through the North Carolina Department of Commerce Division of Community Revitalization and funded by a $1.4 billion CDBG-DR grant from the U.S. Department of Housing and Urban Development (HUD).
The North Carolina Housing Finance Agency is a self-supporting public agency created by the North Carolina General Assembly that provides safe, affordable housing opportunities to enhance the quality of life of North Carolinians.