Durham CAN Wins $4M for Affordable Housing

Affordable Housing, Durham City Council, Durham Housing Authority

Durham CAN Wins $4M for Affordable Housing

Tuesday, June 6, 2017
IndyWeek
The Durham City Council on Monday night approved a $4.162 million grant that will allow the Durham Housing Authority to buy back twenty acres of vacant land known as Fayette Place.
 
The money will come from the city’s general fund and can only be used to acquire the land and maintain it until it is sold or developed.
 
Development Ventures Incorporated, a real estate development company controlled by the Housing Authority, and Campus Apartments, which currently owns the land, have agreed to close on the deal no later than June 16....