New affordable housing development coming to downtown Raleigh

The Raleigh City Council approved funding and a land lease on Tuesday for a project that will bring affordable homes to downtown Raleigh.

2026-06-17

The city council approved almost $1.24 million and a long-term land lease to help with the project. 

The project looks to bring 28 rental homes to city-owned sites near East Street and Cabarrus Street. 

Residents need to earn 30% to 60% of the area median income. In Raleigh, the area median income for a family of four is around $79,380.

Eight of the homes are for people with disabilities earning less than 50% of the area median income.

The project developer is Local Post, a property management company based in the Triangle.

Tuesday's approval is one of several affordable housing projects approved by the city of Raleigh in recent months. In April, Raleigh leaders approved bringing 491 new apartment homes across five developments.