The @NC_TAA recently recommended ways to make multifamily housing in Durham more affordable. Find out what they shared with the City Council on #BullCityToday.
Transcript:
The Triangle Apartment Association is making recommendations about how to make multifamily housing in Durham more affordable. A recent presentation to the City Council shows that the average rent is $1,510 per month in Durham versus the national average of $1,650 per month. Despite having a current high vacancy rate for multifamily units, there are many people who cannot afford rent costs in Durham. To help address the issue, the association recommended convening an affordable housing committee or advisory group that includes stakeholders from all sides of housing. It also suggested providing more funding for the Durham Affordable Housing Loan Fund to help make the acquisition of properties to create or preserve affordable units more realistic. In addition, the association recommended offering incentives for landlords to participate in the Housing Choice Voucher program to alleviate what is often perceived as a burdensome administrative process involved with participating in the program. To watch this entire discussion as well as all the previous deep-dive housing presentations provided to the City Council, visit DurhamNC.gov/1323.
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