Charlotte has a new strategy for affordable housing: Pay to fix up existing units
“Charlotte City Council is taking a new tack in its struggle to make up for the city’s shortfall in affordable housing: Fix what you have rather than build what you don’t. City Council voted Monday to allocate $2.1 million to subsidize renovation and rehabilitation of the privately owned Sharon Oaks apartments in east Charlotte. It’s the first time the city has used its affordable housing money to renovate existing apartments rather than underwrite new developments.”