August 23, 2022Asheville City Council
From the minutes, not yet reviewedWhat it does
Lets the City Manager negotiate and enter into a Purchase and Sales agreement with Laurel Street Residential for the development of 319…
- Passed. Everyone present voted yes.
- Who it's for: Households earning up to 80% of the area median income: up to $81,920 a year for a family of four, or $57,360 for one person (HUD's 2026 income limits for tax-credit housing in the Asheville area).
- What the minutes say it will do: “The project will result in a mixed-income development adjacent to Lee Walker Heights, which aligns with the initial vision for the property.”
More from the minutes
- “loper is also providing an additional 22 units at 80% AMI for 30 years.”
- “The City will gain approximately 65 new affordable housing units for a period of 30 years.”
- “Utilizes City-owned land to produce affordable housing in a public/private partnership with a for-profit developer.”
Official title: Council authorized the City Manager to negotiate and enter into a Purchase and Sales agreement with Laurel Street Residential for the development of 319 Biltmore
Carried unanimously
From the minutes: This motion was seconded by Councilwoman Kilgore and carried unanimously by roll call vote.
Read the motion as recorded
“Councilwoman Mosley moved to authorize the City Manager to negotiate and enter into a Purchase and Sales agreement with Laurel Street Residential for the development of 319 Biltmore.”
Open the minutesMotion text in the minutes