Davidson encourages the production of affordable housing by requiring 12.5% of homes in all new developments to be affordable. With inclusionary housing, construction of low-and-moderate income housing is linked to construction of housing in the marketplace by mandating developers to provide the affordable units in an otherwise market-driven development. In doing so, inclusionary housing not only generates units affordable to low-and-moderate income families, but also provides opportunities for racial and economic integration. With inclusionary housing, affordable units are built concurrently with market-rate housing.
Goals of the Affordable Housing Program
The goals of the program are to create mixed income neighborhoods; produce affordable housing for a diverse labor force; seek equitable growth of new residents; and increase home ownership opportunities for low-and-moderate income levels.
Who Qualifies for Affordable Housing in Davidson?
Many residents are unable to afford the skyrocketing price of homes in Davidson. Residents making less than 120% of the Area Median Income (AMI) in Mecklenburg County may be eligible to purchase or rent an affordable home. Individuals in a variety of professions may qualify, a few examples listed below:
Retail sales clerks
Entry level professionals in other fields
Young adults, recent high school and college graduates
The requirement to provide a certain percentage of affordable housing units applies to any new development in Davidson with 2 or more residential units. This requirement applies even if the development is phased in over time. For more information, click here Developer Requirement Developer Requirement.