Raleigh, NC Welcomes New Affordable Housing

The Chapanoke will showcase a 200-unit apartment complex offering one to three bedroom configurations.

Raleigh city officials, Wake County leadership, and collaborative partners are set to commence construction on an innovative affordable housing community in Raleigh this Wednesday, addressing the region's escalating housing shortage.

The Chapanoke will showcase a 200-unit apartment complex offering one to three bedroom configurations. Developed on previously publicly-owned property, these apartments will serve households with incomes ranging from 30% to 70% of the Area Median Income (AMI).

Gilbane Development stated in a press release, "Chapanoke embodies years of coordinated effort among Wake County, the City of Raleigh, Wake Technical Community College, Raleigh Community Partners, and financing collaborators to repurpose former public land into a sustainable community resource that will deliver affordable housing opportunities for Wake County residents for decades to come."

According to Gilbane Development, the nearly $93 million initiative receives backing through Low-Income Tax Credit Housing equity alongside public and private investment sources.

Assuming construction proceeds on schedule, Chapanoke is anticipated to welcome its first residents in 2028.