Affordable Housing
Affordable housing - a comfortable, safe place to call home that is close to work and school - is a right for all. There is a problem though: Market pressures brought about by years of remarkable economic growth in Charlotte have pushed housing and rental prices out of reach for many. The result has put an economic squeeze on families and individuals alike.
As recently as 2021, the City of Charlotte has estimated that 32,000 additional units are needed. Presently, nearly half of Charlotte’s residents shoulder outsized housing costs and pay over 30% of their yearly income on housing. LISC Charlotte is working with the public and private sectors to answer the call for more affordable housing.
As fund administrator, we put CHOIF funds to work financing construction and rehabilitation of housing in the city. Our unique position as the local office of one of the nation’s largest community development organizations makes it possible to leverage both local investment and matching grant money originating from our national offices. We provide developers low-interest capital through low-cost debt, housing vouchers, and private funding. We collect and review proposals, and ensure that housing stock is priced within an affordable range for either renters or homeowners.
CHOIF
LISC Charlotte manages the Charlotte Housing Opportunity Investment Fund (CHOIF), partnering directly with Charlotte’s Housing Trust Fund to effectively double the city’s investment in affordable housing. Learn more.
Additional Housing Programs
LISC Charlotte is actively backing other initiatives to not only boost the city’s affordable housing stock but to help residents move from renting to homeownership. Learn more.
Charlotte and LISC Acquisition Rehabilitation Program
We have joined the City of Charlotte in an initiative to make home prices more affordable for low- and middle-income families.
INLIVIAN Destination Homeownership Program
We are working with the city’s housing authority to build on a program launched by Ally Financial.
Fannie Mae’s Challenge
We are using funding to promote health-focused programs for residents of affordable housing units.