Frequently Asked Questions
What is affordable housing?
What is assisted housing?
What is the incentive for private
developers to participate in an
assisted housing project?
How do zoning requirements fit
in to the Locational Policy?
What is the Housing Locational
Policy?
Why is assisted housing
important in Charlotte?
Why does the City Housing
Locational policy currently apply
to State and Federally funded
assisted housing projects?
Will the presence of an assisted
housing project reduce my
property values?
Why aren’t there exemptions in
the proposed policy as there has
been in the past?
What about affordable housing
around transit stations? Is there
another policy for that? Does that
policy “trump” the Housing
Locational policy?
Housing is affordable if the occupants are paying no more than 30% of their
annual income on housing plus utilities.
A housing development receiving City, State or Federal assistance in order to
lower the cost to the occupant. This is also referred to as Subsidized Housing.
Assisted housing is affordable, but not all affordable housing is assisted.
Beyond meeting a need in the community, there is currently no financial
incentive for developers to build affordable housing. The Housing &
Neighborhood Development Committee will discuss inclusionary zoning (policies
that require or encourage developers to set aside a percentage of the units in
housing developments for low- and moderate-income residents) and density
bonuses to offset the developer’s project costs and compensate for providing
affordable units later this year.
If a parcel is not appropriately zoned for multi-family use it requires a rezoning.
Rezoning petitions are heard by City Council.
The Housing Locational Policy provides a guide for the financing and/or
development of new multi-family rental housing projects designed to serve, in
whole or part, households that earn 60% or less than the area median income.
The City Council is currently analyzing the existing policy, to determine the need
for revisions.
The estimated need for affordable housing units in Charlotte has been reported
between 12,500 – 15,000 units. The community adds about 400 new affordable
units each year.
This allows the City Council to evaluate concentration of affordable housing,
regardless of what governmental entity provides the subsidy.
There is no evidence that assisted housing negatively affects property values.
This is an effort to make the policy more uniform and streamlined across all
affordable housing categories.
There is a transit oriented development policy which addresses affordable
housing. The policy calls for development of assisted multi-family
housing within ¼-mile of a transit station when part of a mixed income housing
development. This policy supersedes the Housing Locational Policy.