Entirely affordable housing project proposed off Brevard Road; received city, county loans
ASHEVILLE - As local leaders work to balance housing prices in Western North Carolina, a 100% affordable housing project that received funding from both Asheville City Council and the Buncombe County Board of Commissioners will soon be reviewed by local officials as the developer seeks a conditional zoning request for the project near Brevard Road. If approved, the complex will be one of several funded by the local governments in the hopes rental prices decline.
Pine Lane Apartments is a 126-unit apartment complex proposed for West Asheville off of Brevard Road by the Minnesota-based real estate investment firm Roers Companies. Every unit will affordable at 60% area median income, making it one of the few entirely affordable apartment complexes commercially built in the city.
Under 2024 standards set by the U.S. Department of Housing and Urban Development a single renter making $39,240 a year would qualify to live in one of the apartments.
"The city and county both echoed a need for deeper affordability, along with providing ancillary funding to ensure product feasibility so that we can provide high quality affordable housing to the City of Asheville," Roers Companies Development Associate Eddie Starz told the Citizen Times.
"So, a project of this size and income level checks a lot of boxes for the community," Starz continued.
The choice for entirely 60% AMI housing comes from the fact that the development will likely receive a 4% Low Income Housing Tax Credit from HUD, which requires units to be below or at 60% AMI. They expect to receive the credit in 2025, Starz said.
Pine Lane Apartments will see a conditional zoning review, meaning both the city of Asheville Planning and Zoning Commission and City Council will review and vote on the project. Though it will require City Council approval, the project has already seen wide support from both the city and the county.
Pine Lane Apartments received nearly $3.9 million from the city of Asheville Housing Trust Fund loan and received a $6.5 million loan from the Buncombe County Board of Commissioners.
During the April City Council approval of the 2025's affordable housing projects, Affordable Housing Officer Sasha Vrtunski noted that the project had received the largest Housing Trust Fund investment since the creation of the fund in 2001. City staff noted the application was strong due to the project plans including a variety of unit sizes and amenities while maintaining its affordability. The project includes pedestrian paths around the apartment complex and a clubhouse, development documents indicate.
Roers has a deep background in affordable development. Roers has previously developed affordable housing projects in Wisconsin, South Carolina, Texas and Iowa. The company recently announced closing on an affordable townhome project in Charlotte.
"We are very excited to continue working on this project with the city, county, local third parties and our project team. It’s a great project and it will provide a lot of high-quality homes for folks who need an affordable place to live," Starz said.
At the time of funding approval for the project on May 21, Commissioner Parker Sloan noted that funding for these types of projects on a county level has significantly increased in recent years. While Sloan estimated the county had spent $600,000 in 2015 on housing projects, the county had approved $19 million in 2024.
"I'm just really proud and excited. This is us showing people that we can make a difference," Sloan continued.
Traffic impact analysis already performed
A neighborhood meeting was held to discuss the project on July 29, with engineers from Civil Design Concepts fielding questions about the development from those who live in the area near Pine Lane Apartments.
One of the first questions asked was about traffic possibly increasing in the area because of the new development. Representing the applicant, Civil Design Concepts Project Manager Warren Sugg noted that a traffic impact analysis report is required for the size of the development. In a Aug. 15 North Carolina Department of Transportation Division 13 letter, the office approximated that the development would bring in around 974 unadjusted daily trips to Brevard Road, but did not suggest any changes to Brevard Road's lane layout.
The end of Pine Lane, where the development will be built, will be improved "to city standards," Sugg said. The end of Pine Lane Road is currently mostly rugged and unpaved.
Sugg noted that breaking the median at Pine Lane Road to turn left onto Brevard Road was unlikely.
"They're probably going to continue to make everybody turn right," Sugg said, noting that it would likely lead to drivers doing a U-turn at the driveway of the Fred Anderson Toyota.
Sugg suggested that those adjacent to the development keep an open mind about the project.
"Don't let the word affordable scare you," Sugg said.
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Will Hofmann is the Growth and Development Reporter for the Asheville Citizen Times, part of the USA Today Network. Got a tip? Email him at [email protected]. Consider supporting this type of journalism with a subscription to the Citizen Times.
This article originally appeared on Asheville Citizen Times: 100% affordable, 126-unit development proposed off Brevard Road
