The City of Asheville’s Community and Economic Development team has announced the first Notice of Funding Opportunity (NOFO) for its Community Development Block Grant – Disaster Recovery (CDBG-DR) Affordable Multi-Family Housing Construction Program. The program is now accepting applications from developers interested in building affordable apartment homes in Asheville.
This initiative uses federal CDBG-DR funds to increase the number of affordable rental units in the city. Additional NOFOs may be released if there are remaining funds after this round.
CDBG-DR Program Manager Elma King said, “The launch of this NOFO is a vital step in Asheville’s recovery to help developers create high-quality, disaster-resilient housing for our workforce and most vulnerable residents. At this initial stage, we are specifically seeking proposals from professional developers who can leverage these funds with Low Income Housing Tax Credits to ensure long-term affordability. This process is about more than just construction; it is a critical opportunity for the City to identify ‘shovel-ready’ multifamily projects, providing the essential data we need to make informed, strategic decisions about the future of our housing programs.”
The program aims to support multifamily rental developments that include disaster-resilience features. Awards range from $500,000 up to $10 million per project. More details on requirements and eligibility can be found on the Housing Program web page.
Developers or interested parties can submit a Notice of Intent or questions via email at CDBG-DR@ashevillenc.gov.
On January 16, 2025, the U.S. Department of Housing and Urban Development allocated $225 million in CDBG-DR funds to Asheville for recovery efforts following Tropical Storm Helene. These federal funds are designated for unmet needs related to disasters such as housing, economic revitalization, and infrastructure restoration. More information about Asheville’s CDBG-DR program and its Action Plan is available at https://ashevillerecovers.org/cdbg-dr.