Free land and a $20m pledge: Big, new plans for affordable housing in Charlotte

Charlotte’s efforts to build more affordable housing got a boost Monday (8/27/18), with the announcement of large donations from two local companies.

Developer Crescent Communities is putting up land for affordable housing at a new mega-development in west Charlotte, while Wells Fargo pledged $20 million to groups that build housing and help homeowners with down payment assistance. Monday’s announcement comes as Charlotte is grappling with years of rising rent, soaring home prices and increasing pressure on low-income residents trying to pay for a place to live.

For more, see this story on The Charlotte Observer website:

Main photo credit: Richard Simmons, 72, of Matthews tells Charlotte City Council that he wants to put a face on the data that show rents are rising in the Charlotte area. BY JEFF SINER/Charlotte Observer

This story was produced by the Charlotte Journalism Collaborative, a partnership of six media companies working together in an effort started by the Solutions Journalism Network and funded by The Knight Foundation.