City of Asheville Publishes the Final Affordable Housing Plan

With a year-long development process moved to the rear window, the Affordable Housing Plan has finally come to fruition. The final and top priority strategies will begin implementation this fall in the City of Asheville.

After a year of exhaustive research, community engagement, and analysis, the City of Asheville has published the 2024 Affordable Housing Plan. The journey started in September 2023 when the city commenced development of an Affordable Housing Plan update. The original plan dated back to 2008, updated in 2015, but a rapidly growing population and evolving needs demanded new strategies. The comprehensive 113-page plan is now ready to guide the city’s affordable housing goals and priority areas for the next decade.

Foundational Findings

Based upon a detailed examination of population demographics, housing development, and factors impacting Asheville’s future, a number of key findings shaped the plan’s recommendations:

• Limited homeownership opportunities for low- and moderate-income households
• Residents’ fears and experiences of displacement
• Rising property taxes in line with growing property values
• A housing stock that doesn’t cater to residents’ needs in terms of affordability, size, type or accessibility
• A rapidly expanding population, many of whose incomes do not align with area housing costs

Priority plans

Following the addressing and assessing of these needs, the plan presented recommendations falling under five broad goals.

1. Promote policies and resources that help residents stay and thrive: This goal involves expanding tenant protections and homeownership readiness initiatives.
2. Preserve existing affordable housing and improve housing quality: This goal focuses on acquiring affordable housing at risk of affordability loss.
3. Increase housing supply that meets the needs of current and future residents: With this goal, reducing regulatory barriers is a priority.
4. Align place-based policies and programs with related city initiatives: This goal encourages incentivizing transit-oriented development.
5. Broaden and strengthen the affordable housing ecosystem and tools: This goal is dedicated to increasing nonprofit service providers’ capacity.

This fall, the city and its strategic partners will commence work on top priorities, including enhancing the regulatory incentives for affordable housing, educating the community on resources and rights, and supporting the construction of rental and for-sale housing.

Home in on the details in the full document, or explore the plan presentation. Celebrate this wonderful news for Asheville. Stay tuned for more local news & events coming to you every morning, free of charge.