June 24, 2025Asheville City Council
From the minutes, not yet reviewedWhat it does
Lets the City Manager negotiate and enter into a Development and Lease Agreement with Laurel Street Residential for the development of 319…
- Passed. Everyone present voted yes.
More from the minutes
- “The following is the proposal summary: Entire Project: 221 units”
- “Phase I - 109 units with 33 project-based vouchers”
- “Phase II - 112 units - 4% LIHTC”
Official title: Council authorized the City Manager to negotiate and enter into a Development and Lease Agreement with Laurel Street Residential for the development of 319 Biltmore, which will include 162 units affordable for 40 years and a 99-year ground lease; and reaffirm the 2022 decision (Resolution No. 22-184) to “sell” the property, but now as a ground lease and according to the new project proposal of greater number of affordable units and longer period of affordability
Carried unanimously
From the minutes: This motion was seconded by Councilwoman Roney and carried unanimously.
Read the motion as recorded
“Councilwoman Ullman moved to authorize the City Manager to negotiate and enter into a Development and Lease Agreement with Laurel Street Residential for the development of 319 Biltmore, which will include 162 units affordable for 40 years and a 99-year ground lease; and reaffirm the 2022 decision (Resolution No. 22-184) to “sell” the property, but now as a ground lease and according to the new project proposal of greater number of affordable units and longer period of affordability.”
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