Citizen Will

Homestead Twins: Joint Hearing Oct. 19th

Homestead Road is becoming quite the corridor. Stretching roughly east-west along the Chapel Hill/Carrboro urban boundary, the road, already servicing several developments and schools, will become a vital connector to UNC’s Carolina North (whether we want it to or not).

Tonight the Town Council and Orange County Commissioners will hold a rare joint zoning hearing to review a proposed development, Homestead Twins, on the corner of Seawell School Rd. and Homestead. While the development, with its 72 “twin” townhouses – some sized over 2000 sq./ft. – will obviously add to the traffic load on Homestead, the applicant has made a fairly decent case for pedestrian transit. The Town’s Comprehensive Plan emphasizes walkability, and with nearby schools, Homestead Park and the new Senior center, residents should have plenty to do within a quick jaunt.

Further pluses are the developers commitment to set aside %20 of the units for affordable housing and preservation of over %60 of the 21.5 acres as open space.

Further information for tonights 7:30pm hearing is here, background on the application is here [PDF].

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3 responses to “Homestead Twins: Joint Hearing Oct. 19th”

  1. Robert P. Avatar
    Robert P.

    Will,
    I won’t be able to make it, too many meetings this month already. But, I would be interested to find out if the affordable housing is set in stone. What is to stop the developer from making it affordable housing for two years, then saying “Oops, can’t afford it anymore” and jacking it up to high-rent studios or something?

  2. Administrator Avatar
    Administrator

    Good question Robert. The housing will be entrusted to the Orange Community Housing and Land Trust,, which will actually set the value going forward. That said, the values and qualifications track Chapel Hill and regional trends.

    The housing is meant for working folks who make less than %80 of the area median income (%80 of $63.5K or roughly %50K or less). This includes folks like teachers, police/fire/general staff, UNC staff, hospital staff, workers, retail, etc.

    Housing is pitched at 2/3rds appraised values. Buyers are actually buying a 99 year lease. On resale the property cycles back through the trust and the values are adjusted accordingly.

  3. Robert P. Avatar
    Robert P.

    Thanks Will.

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