Charlotte’s Housing Impact Fund raises more than $100M to buy and rehab apartments

CHARLOTTE, N.C. – Charlotte is getting a big boost in affordable housing. The city’s Housing Impact Fund has raised more than $100 million to buy and fix up existing apartments to keep them affordable. The private sector money will go toward providing about 1,500 affordable housing units.

Since 2020, the fund has secured more than 2,000 apartments for people like Aisha Johnson. She had been living in a hotel. Now she lives in the Lake Mist Apartments, one of the first properties to be transformed. Johnson says, “It’s a good environment. It’s safe. They have well-lit security. We have security at nighttime, swimming pool, it’s a nice complex. It really, really is. I haven’t had no problems since I’ve been here.”

Some rents are as low as $300 a month. The new units will stay affordable for at least 20 years.