The North Carolina Office of Recovery and Resiliency (NCORR) has funded its largest affordable housing project to date, an 80-unit affordable multifamily apartment development in Fayetteville called McArthur Park II. The apartments were built to meet key housing needs in an area that lost units due to past hurricanes Matthew and Florence while allowing residents to stay in their community.
The Cumberland County housing project was made possible by $9.8 million in federal long-term disaster recovery funding provided through the NCORR Community Development Program. In total, the NCORR program has committed more than $81.4 million in funding to projects that will create more than 1,000 affordable rental units, both in public housing and in private multifamily developments in storm-impacted regions of the state.
The McArthur Park II development is an example of NCORR’s focus on affordable housing as part of a larger community development and resilience goal. The apartment development is located strategically within one mile of key services, like shopping centers and a park. The units were built to fill an affordable housing need in the community and are earmarked for families whose income is at or below 60% of the area median income, which is approximately $35,760 based on HUD 2021 data.
A public-private partnership was critical to development of the property—NCORR partnered with North Carolina Housing Finance Agency, City of Fayetteville, Wells Fargo, Low Income Housing Tax Credit Equity Investors and United Developers.
A division of the N.C. Department of Public Safety, NCORR administers the state’s Community Development Block Grant–Disaster Recovery funds in eastern counties hard-hit by hurricanes Matthew and Florence, as well as areas of Haywood County that were impacted by Tropical Storm Fred. In addition to disaster recovery and affordable housing, the office manages programs that support resiliency, mitigation, strategic buyout, infrastructure, local government grants and loans, and pandemic-related rent and utility assistance. Learn more about NCORR programs and initiatives at: https://www.rebuild.nc.gov/.
McArthur Park II Photos: