The Home Investment Partnership (HOME) Program in the Winston-Salem/Forsyth Housing Consortium
In FY 2010 HUD awarded a total of $1,405,712 in HOME funds to the Winston-Salem Forsyth Housing Consortium, a partnership consisting of the City of Winston-Salem (lead entity), Forsyth County and all of the cooperating municipalities in the County. Of these funds, $1,037,420 was allocated to the City of Winston-Salem and $227,720 to Forsyth County. HOME program activities focus on increasing the number of affordable housing units for low-income individual and families and increasing the leverage of public funds through financing partnerships. Specific programs include:
Fifth Street Apartments and Extension
The Fifth Street Apartments Phase I, a 12-unit rental rehabilitation project, was completed in 2005 and the City provided $168,140.73 in HOME Funds. Construction on Fifth Street Apartments II, an eight-unit rental property will start soon; the City has contributed $331,859 in HOME funds to this project.
Orchard Creek, a 64-unit property, has just been completed and residents are in the process of moving into their homes. The total cost of the property is $8,112,883 and the City of Winston-Salem is providing $200,000 in HOME funds.
Burton Street Apartments
A 10-unit transitional housing property, Burton Street Apartments, was completed in February 2010. The total cost of this property was $304,251 and the City provided $126,522 in HOME funds toward the construction. All units are now occupied.
Hunters Hill Apartments
Hunters Hill Apartments was built, in partnership with the NC Housing Foundation, to provide housing units for low-income, disabled individuals. The City of Winston-Salem and Forsyth County contributed $203,160 in HOME funds toward the total cost of $1,282,269 of this 12-unit rental property. Currently, all units in Hunters Hill Apartments are occupied.
The Enclave, a 68-unit property, funded by HOME and NSP funds, is currently under construction. The City of Winston-Salem and Forsyth County are providing $1,389,856 in Neighborhood Stabilization Funds; the City of Winston-Salem is providing $400,000 in HOME funds for its construction.
|Content Archived: January 3, 2014|