Asheville Haywood St. Apartments to Offer 41 Deeply-Affordable Units

Haywood Street Community Development Breaks Ground in WECAN

By HERE News Network

In Asheville, the Haywood Street Community Development board members are laying the groundwork for the group’s inaugural deeply affordable housing initiative. This project will see the construction of 41 apartments, predominantly aimed at individuals earning between 30-50% of the median income in the area. After more than a decade of planning, the development will start to take shape on a rugged parcel of land along West Haywood Street.

The Detailed Plan

With their vision set against the backdrop of the Appalachians, team members Jeanette King and Carrie Pettler provided a glimpse of the project. The development encompasses one, two, and three-bedroom apartments at three and four stories, outdoor spaces with mountain views, and shared areas. The prospect of this housing project has sparked feelings of hope for those who have faced challenges securing reliable accommodation in the region.

Local Support and Expectations

Carrie Pettler, a local resident and the board’s representative from WECAN, explained that the vast majority of residents are eager to support the development. Pettler, who has observed the district transform since 2005, hopes that this project will inspire other deeply affordable housing initiatives to combat escalating housing expenses and gentrification.

Project Financing and Details

Purchased for a combined $1.8 million, the three plots of land that compose the development site were obtained between March 2022 and November 2023. With a switch in the original design plan, the project will now consist of a split three and four-story building, reducing overall construction costs and providing a more visually appealing structure.

The 41 apartments will be identified as deeply affordable housing for voucher holders earning 30-50% of the area median income. Four three-bedroom units will be set aside for individuals earning 80% AMI or less. The project will be financed through a blend of public, private, city council, and charitable resources, amounting to a total budget of $12.25 million.

Anticipated Impact

Upon completion, the Haywood Street apartments could usher in a fresh era for deeply-affordable housing. Once the initial process of construction begins, it’s expected to take between 12 to 18 months for it to culminate. Haywood Street Community Development board member Walker Strickland has emphasized her passion for affordable housing and her willingness to see the model replicated across other districts.

Developing Further Projects

Taking a broader look at the housing crisis, Pettler indicated that as soon as construction breaks ground on this project, planning would start on the next one. The board members are enthusiastic about this development but shared a collective vision for the future – to burst the bubble of the housing crisis with deeply affordable homes.

Project’s Ground Breaking Ceremony

The public is welcome to observe the commencement of this significant deeply affordable housing initiative. The groundbreaking ceremony will take place on February 21, at West Haywood St. The project is expected to sow the seeds of community development, and hopefully, it’s just the first of many more to come.