CityView Magazine

Homes of Hope HOPE VI housing units offer safe and attractive housing to low-income residents BY MICHAEL JAENICKE S OMETIMES IT TAKES MORE than a village to transform the village's appearance, outlook. A network of private and public entities have joined forces, contributing $113 million to revital- ize a neighborhood and make the American dream of homeownership and affordable housing possible for low-income people in Cumberland County. Fayetteville's 747 of hope to rebuild public housing is starting to land along its runway on Old Wilmington Road. That's where 747 new apartments, town homes and single family homes have been built a few blocks from Fayetteville's revitalized downtown business area. Three of seven complexes already have residents living in them. The project is collectively known as HOPE VI. HOPE is an acronym for Housing Opportunities for People Everywhere. For- merly known as Carolina Commons, demand for HOPE VI has already exceeded the supply. With assistance from HUD, rent at 44 | September/October • 2011 image and a typical HOPE VI public housing unit will cost about $120 a month. Houses will be sold to qualified applicants who earn no more than 80 percent of the county's median income. Last year the median income for a family of four in Cumberland County was $52,000. The project came about because of a partnership between Cumberland County, the city of Fayetteville, the U.S. Depart- ment of Housing and Urban Development, the North Carolina Housing Finance Agency, PWC and Duggins Smith Builders. Action for Hope VI started in 2008, just before the na- tionwide recession hit. Cumberland County gave $4 million for infrastructure. The city of Fayetteville donated 34 acres of land and waived many filing and permit fees. PWC pitched in $800,000 for physical infrastructure, $2 million in labor and material for electric and streetlights and $171,000 in waivers for facility investment fees. The N.C. Housing Finance Agency has administered the federal and state tax credits. Of the 747 units, 105 are new affordable homes for purchase

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