Frequently Asked Questions

Current Project

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What are the development details?

  • Location- Three parcels spanning 339, 343 & 357 West Haywood Street
  • 41 deeply affordable apartments (a mix of 1, 2 and 3 bedroom units)  
  • 100% of units affordable to individuals earning less than 80% of Area Median Income* (AMI)
  • More than half of units reserved for HUD voucher holders earning at or below 50% of AMI
  • Ground Floor Community Space (3,000 square feet) 
  • Total Cost of Land + Construction = $12.5 million

* The median income for all cities across the country is defined annually by HUD. AMI is the midpoint of a region’s income distribution – half of families in a region earn more than the median and half earn less than the median. HUD defines 30% AMI as “extremely low income,” 60% AMI as “very low income,” and 80% AMI as “low income.”

How much will residents pay for rent?

Affordable rental rates are established by the Department of Housing and Urban Development (HUD) and vary according to income level and number of bedrooms. When an individual receives a HUD voucher, the federal government pays a portion of the rent. For example, a 1-bedroom unit will rent for $1,557/month to an individual with a HUD voucher. However, the tenant will never pay more than 30% of their income for rent.  

What are the next steps?

We have launched a capital campaign to raise $2.5 million towards construction. Once we collect $1.69 million in gifts and/or pledges and close on a bank loan, construction can begin.

What is the anticipated timeframe for building and occupancy?

  • Land acquired April 2022
  • Break ground as soon as December 2023
  • 18 months of construction
  • All units occupied by July of 2024

How will my contributed funds be used?

The first $1.69 million raised will enable us to secure the loan needed to begin construction. Additional funds raised will support onsite programming and provide seed money for future housing developments.

What makes your proposal distinctive?

  • The building is deeded permanently affordable, striving to meet the need for affordable house in perpetuity (forever). 
  • Convinced that blended communities are the healthiest communities; our proposal includes various income levels and offers 1, 2, and 3-bedroom apartments.
  • Intended to be forever homes, the apartments will be constructed with quality materials. 
  • Certain the isolation of poverty doesn’t end with a set of house keys, a Director of Community will be hired to nurture life after move-in day.  
  • Aware that community requires community space, our building has 2,000+ square feet set aside for community gatherings and onsite services including a pantry stocked by MANNA Food Bank. 

What is the project budget?