FAQ - Investors
Frequently Asked Questions
CD encourages investors to develop affordable housing, mostly through the Joint Venture Program which is targeted at developing five or more units.
Are there programs available to assist investors in purchasing and fixing up homes to rent out?
Yes, we have a low-interest rate loan program that assists investors in purchasing and rehabilitating one to four unit projects in certain areas of the City to rent to low-income households. Contact Aimee Holtsclaw at 919-996-4330 or aimee.holtsclaw@ci.raleigh.nc.us for more information.
Is there a program to assist investors in building a new construction rental development?
The City of Raleigh’s Joint Venture Rental program is available to provide permanent financing to developers at a low-interest rate in order to enable them to build affordable housing for individuals or families making less than 60% of Area Median Income. These funds are available competitively in response to a Request for Proposals (RFP) that is sent out annually (usually in October). If you would like to see a sample of a past RFP or would like to be added to our mailing list, please contact Aimee Holtsclaw at Aimee.Holtsclaw@ci.raleigh.nc.us or 919-996-4330.
Are grants available for investors?
No. The City does not provide grants to investors.
Do you assist developers who are building subdivisions (townhomes, condominiums or single family homes) to sell to homeowners?
The City of Raleigh does not currently provide financial assistance to for-profit developers who are constructing housing for homeowners to purchase. The City does have programs available for eligible first time homebuyers to receive financial assistance with the purchase of these homes as long as they are located within the City limits of Raleigh.
What are the eligibility requirements?
Eligible applicants must have a good credit history, must have experience with similar-type projects, and must demonstrate financial strength.
How do I apply for a loan?
You may call our office at (919) 996-4330 and ask to speak to a Loan Specialist or you may visit our office at 310 W. Martin Street, Room 101.
A major goal of the Community Development Department is to promote the development of affordable housing that is attractive and affordable to working families throughout the Raleigh community. Partnerships are developed with non-profit developers, for profit developers and lending institutions to provide homeownership and rental opportunities. This goal is accomplished through new construction and rehabilitation of both rental and single-family houses, providing second mortgages for first-time homeowners, and purchasing existing rental properties for very low-income renters.
For More Information Contact:
Aimee Holtsclaw
CD Program Coordinator
Community Development Department
310 W. Martin Street, Suite 101
Raleigh, NC 27713
919-996-4330
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