The Cary Town Council has approved up to $5.3 million in funding for housing and community development initiatives as part of the 2026–2027 Annual Action Plan. This investment aims to address the town’s growing need for affordable housing and support for residents experiencing housing instability.
Key Components of the Plan
The approved funding will support several projects aligned with the Cary Housing Plan, including:
- Construction of 122 new affordable housing units.
- Preservation of approximately 40 homes for low-income homeowners.
- Establishment of a pilot program for affordable homeownership.
- Provision of homelessness prevention and emergency assistance for residents facing housing instability.
These initiatives are designed to create new housing opportunities, preserve existing affordable housing, and provide stability for vulnerable residents.
Funding Breakdown
At the April 30 Council Meeting, the Town Council approved the draft 2026-2027 Annual Action Plan and the Community Development Block Grant (CDBG) Citizen Participation Plan, recommending $3.8 million in funding for housing initiatives this year. Additionally, Cary has submitted an application for $1.5 million in Federal Congressional Community Project Funding (CPF). If approved, this would bring the total potential funding to $5.3 million.
Community Impact
These investments reflect Cary’s commitment to addressing housing affordability and supporting residents in need. By focusing on both new construction and the preservation of existing homes, the town aims to provide a comprehensive approach to housing challenges. The inclusion of emergency assistance and homelessness prevention measures further underscores the Council’s dedication to fostering a stable and inclusive community.
Residents interested in learning more about these initiatives or seeking assistance can contact the Town of Cary’s Housing and Community Development Department for further information.