City of Asheville
Asheville Affordable Housing Due Diligence Study
The City of Asheville hired Lord Aeck Sargent to assess three city-owned “high impact” sites for developing affordable housing in and around downtown.
With a recently approved $25 million Affordable Housing Bond, these sites represent an opportunity to begin to pro-actively address the City’s current gap in affordable units. During the nine-month planning process, LAS performed a wide variety of assessments for each site including: urban design, site suitability for mixed-income housing and mixed-use development, densities and massing, and open space.
The potential site development scenarios aligned with detailed economic pro forma scenario testing and affordable housing financing strategies (prepared by Bleakly Advisory Group) to provide the City with a tool to determine the most effective use of bond funds. The final plan document sets the stage for the procurement of a development partner(s).