Avenues Project
Summary
The Housing Authority bought 721 and 703 First Avenue for $63,000 to build four townhomes and two single-family rentals with a park. The commission extended the affordability covenant from five to fifteen years so the homes stay income-restricted long term.
At a glance
- Total mentions
- 6
- Last 30 days
- 1
Discussed at 2 meetings in the last 60 days; most recently Oct 14, 2026.
Impact analysis
The lots sold at $63,000 tax value; the redevelopment is expected to be partly FEMA-funded.
Low- and moderate-income renters who will gain six affordable units in the Greater Five Points/Duffyfield area.
Drivers currently dealing with daily traffic headaches, detours, and slower commutes through the construction zones.
Mentions & discussions (7)
Redevelopment Commission - Oct 14, 2026
The Housing Authority bought 721 and 703 First Avenue for $63,000 to build four townhomes and two single-family rentals with a park. The commission extended the affordability covenant from five to fifteen years so the homes stay income-restricted long term.
Redevelopment Commission - Sep 9, 2026
The Housing Authority's recent grant award is fueling movement on the Avenues Project, with Habitat for Humanity conversations expected soon. Updates come at the October meeting.
Redevelopment Commission - Jun 10, 2026
The Housing workgroup was scheduled to discuss the Avenues Project and how to use Brownfields grant funds — both aimed at housing and redevelopment in targeted neighborhoods.
Redevelopment Commission - Apr 8, 2026
The Housing workgroup was scheduled to discuss the Avenues Project, part of the commission's affordable housing efforts.
Redevelopment Commission - Mar 11, 2026
The Housing workgroup was to discuss the Avenues Project and how brownfields grant money could be used.
Redevelopment Commission - Feb 11, 2026
About $240,000 remains in a brownfield grant for conceptual drawings on several Second and Third Avenue lots that are on the non-sellable list. The consultant says the ball was dropped and wants direction on the city's appetite for redevelopment of those parcels.
New Bern Avenue BRT Construction Updates
New Bern Avenue BRT Construction Updates RaleighNC.gov
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