Affordable housing within Greensboro’s budget

Regarding administration funds and budgets for social work and investment, the city of Greensboro, North Carolina has allocated a significant sum for affordable housing for its residents.

According to statements from the City Council, it was revealed that now the resources for the current and next fiscal year are intended for affordable housing and community support. The Council stated that approximately $802 million is allocated to improve the crisis.

They also declare that the housing issue is in a complex situation in the city; however, this is a significant step toward community and resident progress.

According to U.S. rankings regarding rent price increases, Greensboro ranks sixth, and seventh for eviction rates.

For all these reasons, the administration has decided, for the second time, to allocate additional significant support to the Greensboro Housing Authority to improve housing demand and the situation of many families in the city.

With this allocated budget, the Council states, the Housing Authority will be able to improve the implementation of programs and initiatives aimed at housing affordability, and they will be able to allocate part of this budget for emergency assistance.

Additionally, the Greensboro Department of Housing and Neighborhood Development has spoken out on the matter, and through its director, it stated that their objectives, since first implementing their housing strategies in 2020, are to provide access to homeownership, supportive housing, affordable rental housing, and neighborhood reinvestment.

Although their objectives are clear and their strategies work to some extent, they recognize the importance of improving and strengthening the programs to meet the demand for affordable housing and improve the quality of life for residents.

To reach a possible solution to the housing crisis in the city of Greensboro, the Housing Department will work together with developers who will acquire city properties and implement housing initiatives in accordance with strategies and measures aimed at improving housing affordability for those facing homelessness due to foreclosure, auctions, or simply never having had the financial capacity to buy a home for the first time.

Available Foreclosures:

Greensboro: 150 homes available.

By Elias DaSilva | September 30, 2024