Greensboro City Council approved the allocation of over $8.1 million combined federal program funds and local bond dollars to the construction and upkeep of six affordable multifamily housing developments at its April 21 meeting. 

The City sought proposals from eligible nonprofit or for-profit developers/organizations for affordable multifamily housing development gap financing in February. Out of the 17 applications, Greensboro’s Housing and Neighborhood Development staff selected six projects to recommend to City Council for funding. 

Pending receipt of additional financing and adherence to closing conditions, projects receiving funding include: 

• Ellington Place, 2701 N. O.Henry Blvd. - new construction of 75 units by DHIC, Inc. 

• Graceview Apartments, 690 Union St. - new construction of 84 units by Affordable Housing Management, Inc. 

• Phillips Avenue Apartments, 2533 Phillips Ave. - new construction of 59 units by Self-Help Ventures Fund 

• Southgate Market Apartments, 734 S. Elm St. - new construction of 120 units by the Alexander Company, Inc. 

• Partnership Village, 2133 Greenbriar Rd. - rehabilitation of 56 supportive housing units by Affordable Housing Management, Inc. 

• Richardson Village II, 600 Dewitt St. - rehabilitation of 24 units by Beacon Management Corporation 

Selected proposals include both applicants participating in the North Carolina Housing Finance Agency (NCHFA) for 2026 Low-Income Housing Tax Credits (LIHTC) program and non-LIHTC participating developers. NCHFA credits are typically awarded in late August. 

These projects will provide homes for households across a broad range of incomes, from families with very limited earnings to those who make closer to the local average. Construction is anticipated to begin in fall of 2027.