Affordable Housing Planned For Ballantyne
Around 175 affordable housing units are being planned for Charlotte’s Ballantyne neighborhood.
Real estate firm Northwood Office told the Charlotte Ledger Business Newsletter the units are part of its finalized rezoning petition for the project that would be located behind the Ballantyne Hotel.
Northwood owns the hotel and the Ballantyne Corporate Park. The plan calls for the affordable units to be among 2,200 multifamily units in the project.
The newsletter reports the rent in the affordable units would be set to attract people making 80 percent of the area’s median income.
Ballantyne has been criticized for its lack of affordable housing. If the city council approves the rezoning for the project, construction could begin next year.
Just last week, the city approved more than $12 million in funding and land for eight affordable housing projects.