Wilmington City Council to loan $698K+ to fund permanent supportive housing
Wilmington City Council voted to give thousands of dollars to a nonprofit to create more affordable housing units on Tuesday night.
WILMINGTON, NC (WWAY) — Wilmington City Council voted to give thousands of dollars to a nonprofit to create more affordable housing units on Tuesday night.
Council voted to loan nearly $700,000 to the Cape Fear Collective to rehabilitate the 15-unit Driftwood property on Princess Place Drive.
The goal is to provide more free or low-rent permanent housing. It will specifically help people with a disability who have experienced homelessness for at least a year or repeatedly over several years.
The funding comes from a community development block grant focused on coronavirus.
“Housing quality and housing safety are really important to us,” Cape Fear Collective CEO Meaghan Dennison said. “I think I can speak for our other partners when I say we really want to ensure that any one of us on our teams would live in these units so that’s the standard we’re building them to.”
Once developers are able to start construction, they hope it will be about a 60-day process before bringing units online.