Commissioners Hear an Update on Affordable Housing Project at 50-52 Coxe Avenue
In the briefing on Tuesday, March 4, Buncombe County Board of Commissioners received an update on the affordable housing development project on the County-owned property at 50-52 Coxe Avenue. Developed in partnership with UNC School of Government’s Development Finance Initiative, the proposed project is entirely affordable and consists of 206 units all designated at 80% or less of area median income, as well as a ground floor with retail space, services, and amenities.
After reviewing proposals from nine developers between July and September 2024, County staff is recommending the selection of Harmony Housing as the project’s development partner, but the Board of Commissioners won’t vote on entering a memorandum of understanding until March 18. According to staff, Harmony Housing demonstrated alignment with the guiding public interests and illustrated its qualifications, relevant experience, and ability to deliver in a timely manner.
“This is a very exciting project we've been working on for quite some time,” said Commissioner Terri Wells. “We know how desperately our community needs more housing and especially more housing that people can afford.”
The proposed milestone schedule estimates that groundbreaking will occur in early 2027 and that construction could be completed as early as 2029.
View the full presentation here. Learn more about the project here.