Cary Town Council has approved funding for a new round of housing and community development initiatives as part of the 2026–2027 Annual Action Plan. The approved potential investments total $5.3 million and support projects aligned with the Cary Housing Plan, including new housing opportunities, affordability preservation, and housing stability support.
- At the April 30 Council Meeting, Cary Town Council approved the draft 2026-2027 Annual Action Plan and CDBG Citizen Participation Plan, recommending $3.8 million in funding for housing initiatives this year. Cary has also submitted an application for $1.5M in Federal Congressional Community Project Funding (CPF), which would result in potential total funding of $5.3M.
- Funds will support the construction of 122 new affordable housing units, preservation of approximately 40 homes for low-income homeowners, establishment of a pilot for affordable homeownership, as well as homelessness prevention and emergency assistance for residents experiencing housing instability.
- The investment furthers the goals of the Cary Housing Plan and Imagine Cary Community Plan, benefiting residents and strengthening housing stability.
Watch the April 30 Council Meeting here.
Here’s a breakdown of the projects funded:
The Carr Center Affordable Mixed-Use Redevelopment Gap Financing
Funding: $1,302,249
In partnership with Greenwood Forest Baptist Church (GFBC) and The Carying Place (TCP), DHIC has requested funds to support The Carr Center – a proposed mixed-use development on church land at the corner of Kildaire Farm Road and SE Maynard Road. GFBC is partnering with Cary-based nonprofit, The Carying Place, and developer DHIC, who currently owns and operates existing affordable properties in Cary, to build on the GFBC property. The proposal includes 62 multi-family units (The Canopy Apartments), new day care facilities, and office space to increase community programming capacity. 51 of the units will be managed by DHIC and affordable to residents earning at or below 60% AMI; 11 units will serve The Carying Place clients, most of whom are at or below 50% AMI. Both Cary and Wake County awarded gap financing loans to this project last year and anticipated that the development team would return this year to pursue additional funding. Wake County has previously committed additional support for the daycare and transitional housing with $1,870,000 in grant funds. The development’s funding stack also includes philanthropic donations and bank financing. DHIC was awarded a 9% tax credit allocation through the Low-Income Housing Tax Credit (LIHTC) program in 2025. These credits are awarded annually by the North Carolina Housing Finance Agency on a competitive basis. Cary intends to award 65% of the total award to The Canopy Apartments, LLC (representing DHIC) via a loan and 35% to The Carr Center, LLC (representing GFBC and TCP) via a grant in alignment with the partners’ shared cost agreement. Additionally, Cary has submitted an application for $1,500,000 in Federal Congressional Community Project Funding (CPF) to support The Carr Center, which is under review. If the federal grant is awarded, the total support for FY27 would be $2,802,249 inclusive of costs to administer the grant.
Stable Homes Cary Program – NeighborUp
Funding: $600,000
As the oldest nonprofit service provider in Cary, NeighborUp provides compassionate assistance to area residents to empower people to achieve housing stability and self-sufficiency. Their portfolio of programming includes financial assistance and case management. In 2024, Council approved the establishment of the Stable Homes Cary Program that built on NeighborUp’s case management-based model to serve more residents experiencing housing instability and seed a fund to assist tenants who have been notified by the property owner that relocation will be required. NeighborUp also administers Cary’s Parks and Recreation scholarship program, Play it Forward, and the Oasis Emergency Utility Assistance Program. This assistance will support direct assistance to residents and case management resource needs including staff capacity.
Healthy Homes Cary Rehabilitation & Preservation Program
Funding: $750,000
Through the Healthy Homes Cary program, Cary provides low- and moderate-income homeowners with funding for critical home improvements which help residents age in place, preserve safe and sanitary housing, correct hazardous structural conditions, eliminate blight, and improve accessibility for persons with disabilities. In partnership with Cary-based nonprofit Preserving Home (formerly known as Rebuilding Together of the Triangle), this program is funded through a combination of CDBG and Cary General Funds. To offset costs, the program also uses a combination of local grants, partnerships, and discounted materials to make repairs, disability modifications, and home performance upgrades to homes owned by low-income homeowners. Since the establishment of the Healthy Homes Cary Program, other communities including the Town of Apex and Wake Forest have adopted Cary’s model. Cary is supportive of other communities adopting and funding this approach to keep residents in their homes and provide high-quality housing options for all.
Raleigh Area Land Trust Affordable Homeownership
Funding: $145,086
The Raleigh Area Land Trust (RALT) is organized as a Community Land Trust (CLT). RALT works to expand affordable homeownership opportunities for first-time homebuyers with household incomes at or below 80% AMI. The CLT model is used nationally to help new affordable housing supply and homeownership opportunities through shared equity where the CLT retains land ownership, and the homeowner owns the home. The CLT leases the land to the homeowner through a long-term ground lease, conveying most rights and responsibilities available to traditional homeowners. To preserve the long-term affordability, the lease limits the resale price of the home should the owner decide to sell. Homeowners agree to share the equity back with the CLT so that the same opportunity and affordable price that was available to them can be made available to another income-qualifying household. RALT will utilize this funding to acquire and renovate at least one unit for affordable homeownership. The homeowner(s) will be required to complete training and individual counseling provided by the nationally certified DHIC Homeownership Center. RALT’s funding stack also includes philanthropic donations and private bank financing.
White Oak Foundation Community Services
Funding: $125,000
The White Oak Foundation’s mission is to keep families in their homes by saving them from foreclosure and educating potential homebuyers & renters as a HUD-certified counseling agency. In addition to those services, White Oak ensures families have food to eat through a bi-monthly Food Bank distribution and hot meals to seniors as a Wake County Meals on Wheels hub. Their funding request will enable White Oak to continue its public service and intervention efforts for Cary residents with household income at or below 80% AMI with many participants below 50% AMI. This program will serve approximately 100 Cary residents with CDBG funding.
Nonprofit Capacity Building
Funding: $50,000
This project highlights a core intent of the Cary Housing Plan to support nonprofit partners working to further Cary housing and community development goals. Nonprofit capacity awards can provide partners with scholarships to the NC Center for Nonprofits’ Management Institute and assist with strategic planning and staff development. This has produced more efficient and effective programs that have increased capacity to serve more Cary residents annually. Awards made with this year’s Nonprofit Capacity Building funds may include continued scholarship support, strategic planning and staff development, and training for faith-based development partners.
Next steps: Cary staff will submit the Council-approved draft plans to U.S. Department of Housing and Urban Development (HUD). Upon HUD approval, initiative implementation will begin.