Triangle Business Journal: Raleigh sold property for $1. Here's what the affordable homes will cost

Written By Loop Creative

Downtown Raleigh is set to welcome affordable homes priced no higher than $215,000, as the Raleigh Area Land Trust and Raleigh Raised Development secure unanimous approval for $700,000 in gap funding from the Raleigh City Council. With construction anticipated to begin in May and completion expected by 2025, the initiative aims to provide sustainable homeownership opportunities for residents earning between 50 to 60 percent of the area median income.

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