It’s Thursday, June 6.
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Good morning, readers.
In April, we wrote about the Cottages at Idlewild, a new affordable housing development planned for Southeast Raleigh that’s a passion project for NC Central basketball coach LaVelle Moton, who grew up in the Idlewild neighborhood.
The project is unique in its partnership with the Raleigh Area Land Trust (RALT) which is financing construction of the 18 rental and homeownership duplexes that will be available to low-income families.
Under the land trust model, homebuyers will own their homes in the Cottages at Idlewild but not the land on which the homes are situated; therefore, they’ll only pay property taxes on the home value and not the land value, allowing them to keep homeownership costs low and build generational wealth. The homes will be guaranteed affordable for 99 years.
This month, the Wake County Board of Commissioners approved a $910,000 no-interest loan to support construction of the Cottages at Idlewild. Construction on the project is set to begin this fall.
“Our commitment extends beyond the present. We’re preserving affordable land for future generations and fostering ongoing economic growth for homeowners,” said Shinica Thomas, chair of the board of commissioners, in a press statement. “I’m thrilled to witness the creation of generational wealth and equity, empowering low-income homeowners to thrive.”
Units at the Cottages at Idlewild are available to families making below 50 to 60 percent of the area median income and potential homeowners could qualify for $60,000 in home buying assistance from the City of Raleigh and other sources.
The project is projected to be completed within a year.
Have a good Thursday.
—Jane
Durham
Pistachio Ice Cream is serving up Persian-style scoops in Durham’s Tuscaloosa-Lakewood neighborhood.
Wake
At its meeting this week, the Raleigh City Council adopted a Clean Transportation Ordinance that prohibits building new drive-thrus downtown, requires EV infrastructure in new apartments, hotels, and other projects with parking lots, and requires greenway and pedestrian connections for new developments.
A court ruled Wednesday that NC State administrators must allow university employees to conduct their own independent testing for toxic chemicals at Poe Hall.
Orange
The Orange County Board of Commissioners is hammering out details of a bond to fund infrastructure projects in Orange County Schools.
North Carolina
Bus fares are likely to return for some Triangle routes this summer, while others will remain fare-free.
Today’s weather
Partly cloudy with a high of 91 degrees, a chance of storms.
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