Affordable housing units to come to Cary

  • 2022-12-15
Cary is looking to build affordable housing in the town.

The project will be between the Cary Village Square Shopping Center and East Cary Middle School along southeast Maynard Road. It will be within walking distance of the new Fenton development and Cary High School. The town purchased this property 15 years ago.

There will be 126 apartments for mixed-use income. Of these, 64 units will be affordable based on the area median income (AMI); 25 will be for people making 80% of the AMI; 26 will be for those making 50% of the AMI; and the remaining units will be for families who qualify for subsidized housing. More information about such units and their amenities can be provided with brochure printing.

Housing manager for Cary, Morgan Mansa, said the goal of the development was to make it look like the rest of the town so that people with many different levels of income could live together. Mansa added that Cary is leading by example in that affordable housing is being built on land owned by the town in the heart of Cary.

A developer will lease the land from the city with the agreement that these apartments will be affordable housing for 30 years. As the land is being leased, the town can renegotiate with the developer to extend the agreement after 30 years.